Hermes shares fall as Q1 is not up to the 'usual standards'

Shares in Hermes HRMS.PA fall 3.6% to the bottom of France's blue-chip index CAC 40 .FCHI, after the Birkin bag maker slightly missed Q1 expectations

Hermes Q1 sales rise 7.2% at constant currency to 4.13 billion euros ($4.69 billion), missing expectations of respectively 7.9% growth to 4.16 billion euros according to a trader

"Overall, this is a better performance relative to the rest of the peers (so far)..., albeit not up to the usual Hermes standards", J.P. Morgan says

JPM adds there's a question mark whether Hermes might be "less immune" from the broader China slowdown this time around

Up to Wednesday's close, Hermes shares rose 1.77% YTD, having gained 21% over the whole of 2024

($1 = 0.8802 euros)