Business
Hermes Shares Fall After Sales Show Little China Pickup
Hermes RMS 2.78%increase; up pointing triangle shares dropped despite the luxury group booking an acceleration in sales, with some analysts pointing to a lack of a convincing rebound in the key Chinese market.
The Parisian fashion house, maker of the famed Birkin bag, made revenue of 4.09 billion euros ($4.66 billion) over the quarter through June. That marks an organic increase of 6.7% from the same period a year earlier. For the first quarter, the group booked a 5.6% rise in revenue.
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