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Hermes shares sink as Iran war hits Middle East sales, tourism

Hermes shares sink as Iran war hits Middle East sales, tourism

By Helen Reid April 15 (Reuters) - Shares in French luxury group Hermes sank 14% at the open on Wednesday after it said the Iran war hit sales in the Middle East as well as in Europe, with fewer tourists visiting Paris or London and buying designer items.
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Hermès Faces Sales Pressure Amid Middle East Conflict and Weaker Tourism

Hermès Faces Sales Pressure Amid Middle East Conflict and Weaker Tourism

Hermès Faces Sales Pressure Amid Middle East Conflict and Weaker Tourism
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Gucci sales extend falls as Iran war clouds de Meo turnaround

Gucci sales extend falls as Iran war clouds de Meo turnaround

PARIS, April 14 (Reuters) - Sales at Kering's Italian flagship brand Gucci dropped by 8% in the first quarter from the previous year, the 33 billion euro ($39 billion) fashion group said on Tuesday in what it called a "first step" in its recovery.
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Qantas Reduces Domestic Flights Amid Rising Fuel Costs Due to Middle East Conflict

Qantas Reduces Domestic Flights Amid Rising Fuel Costs Due to Middle East Conflict

Qantas Group has announced a reduction in its planned domestic capacity expansion for the April-June quarter, scaling back by five percentage points due to rising fuel costs triggered by the conflict in the Middle East. Originally, Qantas intended to increase domestic capacity by 4% year-on-year for the quarter, but now expects a 1% decrease. This adjustment affects both Qantas domestic and Jetstar flights. In response to strong demand for international travel to Europe, Qantas is reallocating capacity from the U.S. and domestic routes to increase flights to destinations like Paris and Rome. The airline's overall international capacity growth remains at 3% for the quarter. Qantas has hedged approximately 90% of its exposure to crude oil for the second half of the fiscal year but remains vulnerable to changes in jet refining margins. The airline estimates its second-half fuel costs will range between A$3.1-3.3 billion, up from a previous projection of A$2.5 billion.
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Kering shares slide after Gucci sales disappoint

Kering shares slide after Gucci sales disappoint

MILAN/PARIS, April 15 (Reuters) - Kering shares plunged as much as 10% on Wednesday after first-quarter sales at its Italian flagship brand Gucci dropped more than expected, underlining the challenges in reviving the brand's appeal.
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Asia-Pacific Markets Anticipate Gains Amid U.S.-Iran Deal Hopes and Oil Price Drop

Asia-Pacific Markets Anticipate Gains Amid U.S.-Iran Deal Hopes and Oil Price Drop

Asia-Pacific markets are expected to open higher, driven by optimism surrounding a potential U.S.-Iran diplomatic agreement and a decrease in oil prices. The Nikkei 225 in Japan, Hong Kong's Hang Seng, and Australia's S&P/ASX 200 are all poised for gains. This follows a positive performance in U.S. markets, where the S&P 500 and Nasdaq Composite saw significant increases. The potential U.S.-Iran deal is seen as a factor that could stabilize the Middle East, impacting global oil prices and market sentiment. President Trump indicated that negotiations with Iran are being considered, although no official schedule has been set.
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Qantas Adjusts Operations Amid Rising Fuel Costs Due to Middle East Conflict

Qantas Adjusts Operations Amid Rising Fuel Costs Due to Middle East Conflict

Qantas Adjusts Operations Amid Rising Fuel Costs Due to Middle East Conflict
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LVMH shares fall after Iran war hits first-quarter sales

LVMH shares fall after Iran war hits first-quarter sales

By Helen Reid April 14 (Reuters) - Shares in French luxury goods group LVMH fell as much as 3% on Tuesday after first-quarter sales were hit as the war in Iran dented spending by Middle Eastern shoppers, further delaying a long-awaited recovery for the luxury sector leader.
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LVMH flags sales impact of Iran war in blow to hopes for luxury revival

LVMH flags sales impact of Iran war in blow to hopes for luxury revival

PARIS, April 13 (Reuters) - French luxury giant LVMH suffered a heavy impact from the Middle Eastern conflict https://www.reuters.com/world/iran/, it said on Monday, as sales fell in the Gulf and many rich tourists from the region also stopped spending in Europe.
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U.S. Imposes Blockade on Iranian Shipping, Oil Prices Surge

U.S. Imposes Blockade on Iranian Shipping, Oil Prices Surge

Oil prices have surged by over 7% to reach $102 a barrel following the U.S. decision to impose a blockade on Iranian shipping through the Strait of Hormuz. This move comes after the collapse of peace talks over the weekend, leaving the fragile ceasefire in jeopardy and continuing to disrupt Middle East energy exports. The blockade aims to exert pressure on Tehran, potentially affecting up to 2 million barrels of Iranian-linked oil flows. The financial markets have reacted with a 'risk-off' approach, as seen in the decline of stock indices like Europe's STOXX 600 and S&P 500 futures. Additionally, U.S. Treasury yields have risen, reflecting increased market uncertainty.
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Exclusive-Luxury brands face profits squeeze as Iran conflict shrinks Dubai Mall sales

Exclusive-Luxury brands face profits squeeze as Iran conflict shrinks Dubai Mall sales

By Tassilo Hummel and Helen Reid PARIS, April 13 (Reuters) - Sales at Europe's biggest luxury brands have shrunk in Dubai and Abu Dhabi as the Iran conflict https://www.reuters.com/world/iran/ hit the sector's fastest-growing market in the latest setback for the $400 billion industry whose value has
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Luxury Sector Faces Challenges Amid Geopolitical Instability and Market Slowdown

Luxury Sector Faces Challenges Amid Geopolitical Instability and Market Slowdown

Luxury Sector Faces Challenges Amid Geopolitical Instability and Market Slowdown