Hermès International stock gains while Q3 growth slows
Published on 10/30/2026 at 10:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSGrowth slows as leather leads
- Third-quarter revenue growth eased to 4.3 percent at constant exchange rates, below analyst expectations.
- Leather goods remained the strongest division, while accessories, watches and shoes faced weaker demand in China.
- Hermès expects a Geneva flagship opening in early November and further capacity expansion for leather goods.
Hermès reported its slowest quarterly growth in six years on October 22, as weaker demand in China and softer non-leather categories offset continued strength in leather goods. WWD reported that third-quarter revenue rose 4.3 percent at constant exchange rates to 4.1 billion euros, below the 5.2 percent growth expected by analysts.
Leather goods remained the central growth driver, with sales increasing 10.8 percent at constant exchange rates. Perfume and beauty advanced 7.5 percent, while sales at subsidiaries including John Lobb, Saint-Louis and Puiforcat rose 10.5 percent. Silk products grew 1.4 percent.
Other categories were weaker. Ready-to-wear and accessories declined 2 percent, jewelry and home products fell 1.1 percent, and watches dropped 6 percent. Chief Financial Officer Eric du Halgouët said the pressure was concentrated in volume-driven categories such as accessories, shoes and watches, while higher-value products helped cushion the decline.
Greater China remained the main regional concern. Du Halgouët cited weak consumer confidence, a soft property market and elevated savings, while also pointing to a new tax on offshore goods. He said the group remained confident in China's medium- and long-term potential and planned to continue improving its store network.
Outside China, the Americas and Europe continued to support sales. Hermès said its new London flagship exceeded expectations without reducing sales at other London locations. The company is scheduled to open a new Geneva flagship in early November. Management also plans three additional leather-goods workshops by 2030.
Hermès International stock traded at 1,284.25 euros on Lang & Schwarz at 10:38 CET on Friday, October 30, 1.64 percent above the Xetra close of Thursday, October 29. Investors can follow the real-time quote of Hermès International stock.
Portfolio strength meets regional pressure
The results underline the growing split within Hermès' portfolio. Scarce leather goods continue to benefit from strong demand and limited production, while categories that depend more heavily on customer volumes are more exposed to weaker conditions in China and other markets. For investors, the pattern raises the importance of leather-goods capacity and the pace of recovery in lower-growth categories.
WWD reported that management expects price increases of 4 to 5 percent in 2027, while new creative collections in January are intended to support ready-to-wear momentum. The group also plans further investment in jewelry, beauty and retail locations.
The CAC 40 market provides the broader French equity backdrop for the luxury group.
More information is available in more news and analyses on Hermès International stock.
Hermès International at a glance
- Company: Hermès International
- ISIN: FR0000052292
- Lang & Schwarz price: 1,284.25 euros at 10:38 CET on October 30, 2026
- Daily comparison: 1.64 percent above the Xetra close of 1,263.50 euros on October 29, 2026
- Xetra symbol: HMI.DE
- 52-week range: 1,228 to 2,276 euros
