Reported 22 days ago
Luxury brand Hermes announced it will pass the costs of U.S. tariffs onto its clients as first-quarter sales showed a rare weakness, slightly missing market expectations. Despite a 7% rise in sales, the company plans to increase prices by 6-7% starting May 1 to offset the new duties. Factors like a slowdown in China and geopolitical uncertainties contribute to concerns about future growth in the luxury sector.
Source: YAHOO