HERMES Q3 REVENUE GROWTH SLOWS ON WEAK CHINESE DEMAND

What happened: Hermes reported slower third-quarter revenue growth, following LVMH's downbeat quarterly sales update earlier this month. The finance chief said the Chinese market was "very difficult." Key numbers: Quarterly sales rose 4.3% year-on-year in currency-adjusted terms to €4.10 billion (US$4.6 billion), below an expected 5.2% Why it matters: The results marked Hermes' weakest quarterly sales growth rate since early 2020. Analysts have flagged a growing sense among investors that Hermes' historically high valuation may move closer to industry averages as its expansion slows. Coverage: 3 outlets in 24h

Hermes reported slower third-quarter revenue growth, following LVMH's downbeat quarterly sales update earlier this month. The finance chief said the Chinese market was "very difficult."

The results marked Hermes' weakest quarterly sales growth rate since early 2020. Analysts have flagged a growing sense among investors that Hermes' historically high valuation may move closer to industry averages as its expansion slows.