The bad news from the luxury goods sector does not tear off. After LVMH had already scared the markets, there is now bad news again. The Hermès luxury group with its numbers for the first quarter remained behind the expectations. The reaction was not long in coming – the share recently lost 1.8 percent in a slightly changed overall market on Thursday. After all, it did not fall back to the previous annual lows like LVMH, but was still relatively good.
This was also due to the fact that the numbers only disappointed a little. The analysts of Deutsche Bank only spoke of a small misconduct compared to the consensus estimates. Above all, the Asia business as well as the segments watches and fragrance water would have been weakened. Apart from that, the first quarter was quite solid. Meanwhile, the experts from the Swiss major bank UBS pointed out that the weakness of the Asia business should also be seen against the background of the high comparison basis of the previous year.
The reaction was more relaxed at the spirits manufacturer Pernod Ricard. The stock, which is listed in the sector of the food and luxury food manufacturers, but which is attested to a certain proximity to the luxury segment due to high-priced products, hardly gave up despite disappointing quarterly figures. The analyst: Inside UBS, a disappointing European business spoke. However, the view of the year as a whole was unchanged.