Hermes (RMS FP) CEO says momentum in the US is strong, APAC is growing slightly Y/Y and expects growth for leather goods to pick up in the coming months; Growth objectives remain unchanged
Middle East:
- Seeing slight improvement in returns with all stores open in the Middle East.
- Some stores closed in the Middle East at the beginning of March.
Context
Hermes' CEO indicates robust momentum in the U.S. market, with slight annual growth in the Asia-Pacific (APAC) region and an impending uptick in leather goods sales, suggesting confidence in maintaining growth objectives. This implies a positive outlook for luxury consumer demand, which may support the stock and sector performance in the luxury goods space as it signals resilience against broader economic uncertainties.
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