The luxury goods house’s sales, impacted by unfavorable currency effects and the onset of the conflict in the Middle East, dipped slightly on a current-rate basis. On the day the results were released, Hermès’s stock price plummeted dramatically.
After another highly enviable year in 2025 for the luxury sector, Hermès is showing less dazzling performance in the first quarter of 2026.
The luxury goods house has certainly just announced consolidated revenue still up 6% at constant exchange rates (after +9% last year) to €4.1 billion in the first quarter of 2026. But impacted by the significant adverse effect of currency exchange rates, amounting to €290 million, it also suffered a slight 1% decline at current exchange rates.
A tense geopolitical context
“In a tense geopolitical context, Hermès remains on course, faithful to its long-term strategy,” emphasizes Axel Dumas, CEO of Hermès. “Bolstered by its creative vitality, its uncompromising quality, and the loyalty of its customers, Hermès continues its profitable growth in 2026 with conviction and confidence. The fundamentals of the Hermès model are, more than ever, a key differentiator.”
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Read more > Hermès: another record year in 2025
Featured photo: © Hermès
