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Hermes Quarterly Sales Slide 42% After Lockdowns Shut Most Stores

  • Hermes sales dropped 42% last quarter amid lockdowns
  • French luxury brand hired 300 people in sign of confidence
LVHM and Luxury Giants Profit Hit by Store Closures in Wake of Virus
Photographer: Adrienne Surprenant/Bloomberg
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Even the maker of the iconic Birkin bag, the world’s most resilient luxury product, is feeling the brunt of pandemic-induced lockdowns across the globe.

Hermes International’s sales dropped 42% in the three months through June, the company said in a statement on Thursday. Analysts were expecting a 40% slide based on constant exchange rates.