Hermes Sales Growth Slows to 6 Percent Amid Iran Conflict
Hermes reported 6 percent sales growth, missing estimates as the Iran war slowed tourism. Middle East revenue fell 6 percent amid regional geopolitical tension.
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The French luxury group HERMES INTERNATIONAL reported a slowdown in first-quarter sales growth, missing analyst expectations as the conflict involving Iran dampened luxury spending across the Middle East and Europe. The company saw a notable decline in tourist traffic, which weighed on performance in France and other key markets.
