business / news / / The Straits Times
Shares in French luxury group Hermes sank 14 per cent at the open on April 15.
Hermes shares fell 14 per cent to a three-year low after war-hit sales in key regions.
KEY POINTS
- Sales in the Middle East dropped 6 per cent, with Dubai mall sales plunging 40 per cent in March.
- Hermes' overall sales growth of 5.6 per cent missed Visible Alpha consensus of 7.1 per cent.
- Currency fluctuations reduced Hermes’ revenue by €290 million in the first quarter.
COMPANIES
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