Hermes Q1 Sales Slow, Shares Fall 10%

Hermes posted Q1 revenue €4.07bn, up 5.6% organic YoY, missing consensus 7.1% and analyst €4.16bn estimate.
Sales growth slowed due to Iran war impact (~150 bps) and weak Chinese demand, with APAC ex‑Japan up 2.2% versus 5.7% forecast.
The Americas region delivered a strong 17.2% sales increase, while Hermes shares fell more than 10% in Paris trading.
Hermes reaffirmed its medium‑term sales growth guidance at constant exchange rates, citing confidence despite uncertain economic and geopolitical backdrop.