Gate News message, April 15 — Shares in French luxury group Hermès sank 14 percent at the open on April 15 after the company reported that the Iran war has significantly impacted sales in the Middle East and Europe, with declining tourist numbers reducing purchases of designer items in Paris, London, and other major luxury hubs.
Sales in the Middle East region fell 6 percent in currency-adjusted terms to €160 million, down from €185 million in the first quarter of 2025. Chief Financial Officer Eric du Halgouet noted that luxury mall sales in Dubai and other Gulf shopping centers dropped 40 percent in March alone, following strong double-digit growth in January and February. The decline in tourism has also hit airport concession stores and luxury retail centers in Britain, Italy, and Switzerland, where Gulf shoppers are a key customer base. Sales in France declined 2.8 percent due to reduced tourism, while Asia—Hermès’ largest region by sales—saw revenue growth of just 3.5 percent, with air travel disruption affecting Singapore and Thailand. The United States was a bright spot, with currency-adjusted sales up 17.2 percent.
Hermès’ overall sales rose 5.6 percent in currency-adjusted terms, falling short of analyst consensus expectations of 7.1 percent growth. The company’s stock dropped to its lowest level in more than three years, bringing year-to-date losses to 28 percent. Currency fluctuations reduced revenue by €290 million in the quarter, resulting in a 1 percent decline in reported sales to €4.07 billion from €4.13 billion a year ago. LVMH and Kering reported similar war-related sales impacts earlier this week.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Dogecoin Holds $0.094 as X Cashtags Drive Market Attention
Key Insights
Dogecoin holds above $0.094 despite market weakness as Bitcoin and Ethereum stabilize, reflecting resilience and sustained demand across major cryptocurrencies during the consolidation phase.
X launches smart cashtags enabling real-time crypto and stock tracking, improving marke
CryptoNewsLand3h ago
SEC Approves NYSE Rule Change to Enable Tokenized Securities Trading
The SEC has approved a NYSE proposal to create a trading mechanism for tokenized securities, allowing them to be traded alongside traditional shares with full fungibility and equal trading rules.
GateNews3h ago
Meta Stock Rises 1.73% as Company Plans 8,000-Job Layoff Starting May 20
Meta Platforms plans to cut about 8,000 jobs, or 10% of its workforce, starting May 20, despite rising stock prices. The company, with over $200 billion in revenue, is focusing on AI investments amid significant restructuring, aligning with industry trends of layoffs.
GateNews4h ago
Goldman Sachs Files Bitcoin Income ETF Using Options Strategy
Goldman Sachs proposed a Bitcoin-focused income ETF that avoids direct Bitcoin holdings, using linked ETFs and options strategies for income. This filing reflects increased competition in the crypto investment space among major firms.
CryptoFrontNews11h ago
SIX Taps Chainlink to Deliver Equities Data Onchain
SIX has integrated Swiss and Spanish equities data onchain via Chainlink's DataLink, enhancing access to over 75 blockchain networks. This allows the use of verified market data in various digital finance products, meeting growing institutional demands for reliable data.
CryptoFrontNews11h ago
X's Cashtags Feature Generates $1B in Trading Volume Within Days of Launch
X has launched the Cashtags feature, integrating financial trading into its social feed, generating $1 billion in trading volume shortly after its release. Currently available for iPhone users in the U.S. and Canada, it allows easy access to market data and discussions. X Money, a peer-to-peer wallet, is set for rollout amid regulatory concerns, while a new integration with Wealthsimple enables direct in-app trading.
GateNews12h ago
