Hermès grows quarterly sales as leather goods offset softer fashion demand

Hermès ($RMS) reported third-quarter 2026 revenue of €4.10 billion, up 5.5% as reported and 4.3% at constant exchange rates. Leather Goods and Saddlery sales increased 10.8% at constant currencies, while Ready-to-Wear and Accessories declined 2.0% and Watches fell 6.0%. The differing performances show how strongly the group’s quarterly growth depended on its core leather-goods business.

Asia-Pacific excluding Japan was broadly flat at constant currencies, compared with growth of 8.8% in the Americas, 7.2% in Europe and 9.6% in Japan. Middle Eastern sales declined 4.5%. Nine-month revenue reached €12.26 billion, up 2.9% as reported and 5.5% at constant exchange rates, with currency movements reducing revenue by approximately €310 million over that period. Management maintained its longer-term ambition for strong constant-currency growth, without setting a new numerical annual sales target.

Sources:

• assets-finance.hermes.com
• finance.hermes.com