Hermès Q1 sales hit by store closures across geographies

The Hermès Group’s consolidated revenue amounted to 1,506 million euros (1,625.6 million dollars) in the first quarter 2020, down by 6.5 percent at current exchanges rates and 7.7 percent at constant exchange rates. In the first quarter 2020, the company said, all the geographical areas were impacted by the health crisis and store closures. The revenue generated in the group’s stores was down by 7 percent at constant exchange rates. The company expects sales in the second quarter will be significantly impacted by the closures of a significant part of the network.