Iran war impacts Hermes sales in Middle East and Europe
Hermes reported 5.6% sales growth as the Iran war hit Middle East spending and tourism. Sales in the Gulf fell 40% in March while US revenue rose 17.2%.
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The French luxury group HERMES INTERNATIONAL reported a slowdown in first-quarter sales as the conflict involving Iran impacted consumer spending across the Middle East and Europe. The geopolitical tension has deterred shoppers in major hubs, leading to a decline in foot traffic and confidence in previously resilient markets.
