Hermès Sees No US Slowdown as Sales Jump 23%

Sales at Birkin bag maker Hermès rose 23 percent in the first quarter, above market expectations, as wealthy shoppers in China and Europe splurged on luxury fashion and accessories despite higher prices and global market turmoil.

Shares were up 1 percent in morning trading.

Hermès finance chief Eric du Halgouet told journalists store traffic in the United States, where rival LVMH earlier this week flagged softer demand for fashion, leather…