Hermès leather goods sales fall short of expectations, shares drop to over three-year low

Glonghui, July 29｜Hermès share price fell to a more than three-year low, as the French company's leather goods sales fell short of investors' expectations. The Birkin bag maker said on Wednesday that, at constant exchange rates, leather goods sales grew 10.2% in the second quarter. Although this shows the company's resilience compared to other luxury brands, it still underperformed analysts' expectations of 10.7% growth. Its share price in the Paris stock market once dropped more than 11%, reaching the lowest level since January 2023.