Hermès shares slide, Jefferies sees July 29 earnings on watch

Hermès shares came under pressure on Monday after Jefferies pointed to July 29 first-half results and a softer China backdrop. Kepler Cheuvreux also flagged margin pressure in a separate note.

By Anna Wagner, Analysts & Consensus desk. Reviewed prior to publication on 2026-06-22, 18:54.

Hermès (FR0000052292) shares traded lower on Monday in Paris after Jefferies highlighted the luxury group's July 29 first-half results and a mixed China backdrop. Investing.com cited the note alongside a second analyst call from Kepler Cheuvreux, which pointed to margin pressure in the coming report.

What Jefferies said

Jefferies kept a Buy rating on Hermès and cut its price target to 2,000 euros from 2,400 euros, according to the report published on June 22. The brokerage said investors will watch for signs of recovering momentum when the company reports second-quarter earnings on July 29. Investing.com on the Jefferies note

Separately, an Investing.com report said Kepler Cheuvreux analyst Charles-Louis Scotti warned of about 100 basis points of adjusted EBIT margin compression in the first-half 2026 figures. The same report said Hermès shares fell as much as 6.2 percent on Monday, and trade around 1,635.5 euros in the cited session. Investing.com on the Kepler Cheuvreux note

July 29 is next

July 29 is the key calendar point now. That date sits in the market's view because both analyst notes point to the same first-half release and to China-linked demand trends.

Hermès also remains a CAC 40 name, which keeps the Paris listing closely watched by European luxury investors. The stock's Monday trading range and the analyst revisions give the session a clear Paris market anchor. MarketScreener quote page for Hermès International

Leather goods lead the mix

Hermès' business still centers on leather goods, silk, ready-to-wear and accessories, with leather goods the core revenue driver. The group's store network and scarcity model remain central to pricing power in the luxury segment.

Paris price check

The Hermès shares (FR0000052292) trade on 2026-06-22, 18:54 on Euronext Paris at 1,639.00 euros.

Hermès International at a glance

• Company: Hermès International SCA
• ISIN: FR0000052292
• Ticker: RMS
• Trading venue: Euronext Paris
• Price (as of 2026-06-22, 18:54): 1,639.00 euros
• Sector / industry: Consumer Discretionary - Luxury Goods
• Index membership: CAC 40
• Next earnings date: 2026-07-29

Disclaimer: This article is for information only and does not constitute investment advice.