Hermes Stock Slumps as Birkin Bag Maker Flags Slowdown -- WSJ

Dow Jones04-15

By WSJ Editors

There's trouble in luxury land.

Shares of Hermes dropped as much as 12% Wednesday after the Birkin bag maker reported a slowdown in sales growth for the first quarter. If sustained, the fall would be the stock's biggest drops since Hermes went public in 1993, according to FactSet data.

Hermes flagged a weaker rate of growth in Asia compared with last year, as well as a hit from the conflict in the Middle East.

Hermes is known as one of the brands that are most resilient to downturns, thanks in part to demand for its most coveted handbags, which outpaces the rate at which it produces them. Yet its first-quarter sales came in below expectations, according to a FactSet consensus-potentially spooking luxury-goods investors about the state of affairs for the sector.

The update compounded on negative headlines from luxury peers this week.

-- Gucci owner Kering released a downbeat trading update of its own after markets closed yesterday, sending its stock down nearly 10% in morning trading today.

-- LVMH on Monday reported weak quarterly sales as the war in the Middle East held back growth and weighed on hopes of a rebound in demand for high-end goods.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

April 15, 2026 05:13 ET (09:13 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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If sustained, the fall would be the stock's biggest drops since Hermes went public in 1993, according to FactSet data. \n\n\n     Hermes flagged a weaker rate of growth in Asia compared with last year, as well as a hit from the conflict in the Middle East. \n\n\n     Hermes is known as one of the brands that are most resilient to downturns, thanks in part to demand for its most coveted handbags, which outpaces the rate at which it produces them. Yet its first-quarter sales came in below expectations, according to a FactSet consensus-potentially spooking luxury-goods investors about the state of affairs for the sector. \n\n\n     The update compounded on negative headlines from luxury peers this week. \n\n\n     -- Gucci owner Kering released a downbeat trading update of its own after markets closed yesterday, sending its stock down nearly 10% in morning trading today. \n\n\n     -- LVMH on Monday reported weak quarterly sales as the war in the Middle East held back growth and weighed on hopes of a rebound in demand for high-end goods. \n\n\n       This item is part of a Wall Street Journal live coverage event. 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