Hermès Falls 8% as China’s Luxury Recovery Remains Elusive

Hermès shares fell as much as 8% after management said China’s luxury market had stabilised but had yet to show a fundamental rebound.
Q2 revenue rose 6.7% at constant currency to €4.1 billion , slightly exceeding expectations.
The Americas led regional growth at 13.7% , while Asia excluding Japan accounted for approximately 43% of first-half revenue , leaving Hermès highly exposed to the pace of China’s recovery.