France's Hermes Q1 revenue up 6% at constant FX on Americas, Japan demand

Hermes International SCA

15/04/2026 07:13

Overview

France luxury goods maker's Q1 2026 revenue rose 6% at constant exchange rates

Q1 revenue declined 1% at current exchange rates due to negative currency impact

Company redeemed 31,487 shares for €60 mln during the quarter

Outlook

Hermès confirms an ambitious medium-term goal for revenue growth at constant exchange rates

Company says it enters 2026 with confidence despite economic and geopolitical uncertainties

Hermès says it will pursue long-term development based on creativity and control over know-how

Result Drivers

GEOGRAPHICAL PERFORMANCE - Double-digit sales growth in the Americas, Japan, and Europe (excluding France) offset weaker performance in France and the Middle East, with local demand and new store openings supporting results

SECTOR DRIVERS - Leather Goods and Saddlery (+9%) and Silk and Textiles (+8%) recorded robust growth, driven by product desirability, increased production capacity, and creative collections

CURRENCY IMPACT - Significant negative currency fluctuations reduced reported revenue by €290 mln, resulting in a 1% decline at current exchange rates

Company press release: ID:nGNE1RDFt7

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
EUR 4.10 bln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy", 8 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the apparel & accessories peer group is "buy"

Wall Street's median 12-month price target for Hermes International SCA is €2,315.00, about 29.8% above its April 14 closing price of €1,783.00

The stock recently traded at 37 times the next 12-month earnings vs. a P/E of 44 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)