business / news / / Devdiscourse
French luxury group Hermes has reported a weaker than anticipated first-quarter sales performance.
Hermes reported first-quarter sales growth of 6%, below the expected 7.1%.
KEY POINTS
- Geopolitical tensions in the Middle East, including the Iran war, directly impacted Hermes' sales.
- Tourist declines in shopping hotspots like Paris led to fewer purchases of Birkin and Kelly bags.
- Hermes' CFO confirmed the Middle East experienced the most significant sales declines in March.
COMPANIES
Summarized by Newsio from Devdiscourse. How we summarize →