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Stock impact report

Hermes sales up 7% in first quarter, slightly missing expectations [Yahoo! Finance]

HSBC Holdings, plc. (HSBC) 
US:NYSE Investor Relations: hsbc.com/investor-relations
Company Research Source: Yahoo! Finance
costs from President Donald Trump's tariff policies, the company said, as it posted first-quarter sales below market expectations in a rare show of weakness. Banking on its pricing power, Hermes intends to add a premium to all of its products sold in the country from May, coming on top of regular price adjustments which were around 6-7% this year. "We are going to fully offset the impact of these new duties by increasing our selling prices in the United States from May 1, across all our business lines," said Finance Chief Eric du Halgouet, adding the company was still finalising the exact rates. The company known for its Kelly and Birkin handbags, which fetch upwards of $10,000, reported sales for the three months ending in March of 4.1 billion euros ($4.66 billion), a 7% rise on a constant currency basis. The performance fell below analyst expectations for 9.8% year-on-year growth, according to a VisibleAlpha consensus estimate cited by HSBC, slowing from an 18% surge in the Show less Read more
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