Hermes' results come as luxury stocks have come under pressure due to uncertainty over the pace of China's post-pandemic recovery, while a months-long spending frenzy in the U.S. market cools amid rising inflation.
"We've seen no interruption in (growth) trends," Hermes Executive Chairman Axel Dumas told journalists.
"Strong print across the board," said Exane BNP Paribas, citing fast sales growth and consensus-beating margins.
Analysts said the results showed the strength of Hermes' business model, which entails careful management of production and stocks.
Hermes shares traded up 3.3% in early morning trading, while rival Kering was up 1% and LVMH was down 0.5%.
Persons:
Veronique Nichanian, Gonzalo Fuentes, Birkin, Hermes, Richemont, We've, Axel Dumas, Dumas, Bernstein, Kering, LVMH, Mimosa Spencer, Silvia Aloisi, Sharon Singleton
Organizations:
REUTERS, BNP, Thomson
Locations:
Paris, France, U.S, China