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Hermes booked revenue of 4.07 billion euros ($4.80 billion) for the first three months of the year.
Hermes' Q1 revenue rose 5.6%, down from a 9.8% rise in the prior quarter.
KEY POINTS
- First-quarter sales declined year-over-year at current exchange rates due to a €290 million currency impact.
- Hermes' Q1 revenue of €4.07 billion missed analysts' estimates of €4.16 billion.
- The war in Iran is cited as a factor clouding the luxury sector's recovery prospects.
COMPANIES
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