Bloomberg | Bloomberg | Getty ImagesLONDON — European luxury stocks tumbled on Monday as analysts warned of a deteriorating demand outlook, particularly among high-spending Chinese consumers. "Following the post-Covid peak in consumption in 2022, luxury sector revenues have been sequentially slowing. Across European luxury firms, they expect a 1% revenue decline in 2024. The Stoxx Europe Luxury 10, an index tracking top names in the sector, managed to hold flat but has fallen 3.82% in the year to date. 'Prolonged period of weakness'They're not alone in their bearish view on Europe's luxury sector.

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Persons: Hugo Boss, Germany's Hugo Boss, Burberry, Kering, Hermes, Jon Cox, Kepler Cheuvreux, CNBC's, Cox Organizations: Hugo, Hugo Boss AG, Bloomberg, Getty, Bank of America, Korean, BofA Securities, Kepler, U.S, CNBC, Burberry Locations: Shanghai, China, American, Europe