Hermès

Football professionals like Erling Haaland and Jude Bellingham are increasingly showing off expensive designer bags, thereby boosting demand for luxury handbags and offering hope for brands like Hermès in a difficult market environment. The luxury sector is suffering from weaker demand in China and the Middle East; LVMH and Kering reported first-half revenue declines of around 3 percent each. Haaland’s Birkin collection is estimated at about €1.1 million, and consulting firms see potential among male buyers, who currently account for only around a quarter of the market. » More on manager-magazin.de

JPMorgan cut its price target for Hermes from €2,000 to €1,800 but left the rating at "Neutral." Second-quarter and half-year results were slightly above expectations, prompting analyst Chiara Battistini to slightly raise her revenue and EBIT estimates. Despite the better figures, she justified the lower price target by citing increased volatility and an assumption of higher capital costs; the stock also came under pressure as investors question the sustainable growth outlook. » More on finanzen.net

Luxury group Hermès reports a 4.8% revenue rise in the second quarter to just under €4.1 billion (adjusted +6.7% due to a strong euro). Growth was mainly driven by a recovery in France and robust gains in North and South America, while revenue in the Middle East continued to decline, though less sharply than before. For the first half, revenue is 1.6% higher at around €8.2 billion; the adjusted operating profit of €3.35 billion is roughly in line with the previous year. » More on finanzen.net