“These results are likely to be met with some disappointment despite moderating expectations,” Piral Dadhania, an analyst at RBC Europe Ltd. wrote in a note to clients.
(April 15): Hermès shares tumbled the most on record after the Birkin bag maker’s sales growth slowed, hit by the disruption from the conflict in the Middle East like many of its rivals in the luxury goods industry.
Sales rose 5.6% at constant exchange rates in the first quarter, Hermès International SCA said in a statement Wednesday. Analysts had expected a gain of 7.44%.
