Investors looking for stocks in the Consumer Products - Staples sector might want to consider either BJ's Wholesale Club (BJ) or Hermes International SA - Unsponsored ADR (HESAY) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. ...

If you are looking to diversify your portfolio away from US-heavy allocation, in the face of the US-induced tariff threats that may reshape the world's trade, Europe, in particular high-quality European stocks with geographically diversified revenue streams might a good place to parkI’m a Financial Analyst at a Fortune 500 company, investing with a long runway—30 years to retirement and plenty of compounding ahead. I write about building a thoughtful portfolio that balances strong growth potential with soli ...

2025.05. 24 本文字数：820，阅读时长大约1.5分钟 作者 | 第一财经 樊志菁 据央视新闻消息，当地时间5月23日，美国总统特朗普在社交媒体上表示，建议自6月1日起对欧盟征 收50%的关税，而如果产品在美国制造或生产，则不必缴纳关税。 特朗普发文称，欧盟成立的主要目的就是"在贸易上占美国的便宜"。他表示，欧盟设置了强大的贸易 壁垒、征收增值税、企业罚款、非货币贸易壁垒、货币操纵、针对美国公司不公平且不合理的诉讼 等。特朗普称，美国与欧盟的谈判"毫无进展"。 欧洲的奢侈品行业生产手袋、鞋子、时装等商品，对海外市场高度敏感，美国被视为该行业今年增长 的最大希望。 法国经济部的数据显示，法国奢侈品行业规模全球第一，雇佣了60多万人。意大利则 是高端皮革制品主要生产国，这两个国家是美国大多数奢侈品的最大出口国。 路易威轩创办人兼主席阿尔诺(Bernard Arnault)近日表示，欧盟对美国总统特朗普贸易要求的立场 必须软化，并通过谈判达成协议，以避免高关税，保护欧洲就业。美国是路易威轩集团最重要的市场 之一，占年销售额的25%。 贝恩资本合伙人达尔皮齐奥（Claudia D'Arpizio）本周在一次 ...

Group 1 - Hermes is experiencing challenges as its peers face significant struggles, with declining revenue and unaccounted growth [1] - The shares of Hermes are unable to find a stable floor amidst the difficulties faced by the industry [1] Group 2 - The investment strategy focuses on companies with strong qualitative attributes, aiming to buy at attractive prices based on fundamentals and hold long-term [2] - The portfolio management approach emphasizes avoiding losers while maximizing exposure to high-potential winners, often resulting in a 'Hold' rating for great companies if their growth opportunities are below the threshold or if downside risks are too high [2]

如果我们回顾奢侈品发展的历史脉络，可以清晰看到：奢侈品的兴起，是与社会的经济循环紧密相关，但它的根基，却深植在人类恒久不变的欲望之中。 对于一个国家的奢侈品消费历程，奢侈品研究专家阿肖克·颂教授曾做出五个阶段的精辟总结： 这一过程说明：奢侈品并非单纯地为经济繁荣锦上添花，而是贯穿于从生存、发展到精神追求的全过程。它是人类对更美好生活的自然延伸，是从稀缺中 生出的仪式感，是在日常之上寻找意义的渴望。因此，经济周期起伏，市场情绪短暂动荡，对真正高质量的奢侈品需求都不会随之消失。人们或许会在一 时压缩开支，但他们对美、独特性和身份认同的追求，不会因此熄灭。 历史告诉我们：每一次危机后，奢侈品都更强 近期，不少业内都在谈论奢侈品行业的"遇冷"。从高端时装到顶级腕表，从一线大牌到独立品牌，销售遇冷、需求下滑成为了时下商业领域的新焦点。而 不断变化的数据确实也表明，即使在疫情期间都表现出了强劲韧性的奢侈品市场开始降温。但我们认为这只是暂时的市场休整，目前奢侈品的短期下滑， 是现象，不是趋势。 理解奢侈品是产业视角，不能只看短期数据。拉长时间的坐标轴，每一次全球性冲击——无论是金融危机、主权债务危机，还是疫情黑天鹅——都未 ...

Core Insights - The company EG 427 is at the forefront of developing non-replicating HSV-1 (nrHSV-1) vector technology for neurological applications, with data to be presented at the ASGCT meeting [1][4] - The innovative dual-payload nrHSV-1 vector allows for the delivery of multiple transgenes with distinct expression dynamics, providing a significant advantage over existing vector technologies [3][6] - The company has initiated a phase 1/2 clinical study of its lead candidate, EG110A, targeting neurogenic bladder-related incontinence, marking a significant milestone in its development pipeline [4][7] Vector Technology - The nrHSV-1 vector technology enables the expression of two different transgenes controlled by independent regulatory elements, allowing for varied expression durations [2][6] - In vivo studies demonstrated that the vector can achieve high transgene expression in specific neuronal populations, with stable expression levels observed for at least six weeks post-administration [2][6] - The HERMES platform utilized by the company allows for targeted biodistribution of therapeutic proteins within the brain, addressing a range of neurodegenerative diseases [8] Clinical Development - The first patient has been treated in a clinical study of EG110A, which aims to address multiple severe bladder diseases, potentially improving patient care and reducing healthcare costs [4][7] - The ongoing research supports the company's vision of developing genetic medicines that are safe, targeted, and cost-effective for chronic neurological diseases [4][6] Future Prospects - The advancements in nrHSV-1 vector technology are expected to facilitate pipeline growth by addressing challenges in genetic medicine for prevalent pathologies [6][8] - The ability to deliver gene editing proteins and corrected genes through a single vector could revolutionize treatment approaches for autosomal dominant diseases [3][6]

Core Insights - Health Monitor Network achieved recognition at the 2025 Hermes International Creative Awards, winning all 12 submissions, including six platinum awards, highlighting its excellence in point of care advertising [1][2] - The awards celebrate impactful educational content across various platforms, including print and digital Patient Guides, Clinician Updates, digital exam-room screens, and a podcast, emphasizing the company's commitment to empowering patients and healthcare providers [1][5] - The Hermes Creative Awards are administered by the Association of Marketing and Communication Professionals (AMCP), which is known for evaluating creative work across a wide range of organizations, including Fortune 500 companies [3] Company Overview - Health Monitor Network has over 40 years of experience as a targeted healthcare marketing platform for the Pharma/OTC industry, creating bespoke healthcare education to enhance patient-physician dialogues [5] - The company boasts the largest proprietary physician office network in the industry, with over 250,000 offices and more than 450,000 healthcare professionals engaging with its omnichannel educational products [5] - Health Monitor delivers premium point of care content that empowers patients and healthcare providers with trusted information, aiming for optimal health outcomes and impactful ROI for brands [5]

Core Viewpoint - Hermes plans to increase prices in the US to mitigate the impact of President Trump's tariffs on the European Union, specifically the current 10% tariff [1][4]. Group 1: Financial Performance - Hermes reported a 7.2% increase in total first-quarter sales, adjusted for currency movements, which is below the 18% growth seen in the previous quarter [5][8]. - The company's revenue for the first quarter was $4.69 billion, up from $4.33 billion the previous year, but slightly below analysts' forecasts of $4.7 billion [8][12]. - Growth was observed across all areas, particularly in the Americas, with strong momentum in the US noted in March [9]. Group 2: Market Context and Strategy - The price hike is a strategic response to the tariffs, which were initially threatened at 20% but were reduced to 10% for a 90-day negotiation period [4][11]. - Analysts suggest that Hermes is better positioned than many competitors due to its retained pricing power and consistent outperformance in the luxury sector [8]. - The company remains optimistic about revenue growth despite global economic uncertainties, reaffirming its ambitious goals for growth at constant exchange rates [10]. Group 3: Competitive Landscape - Hermes recently surpassed LVMH as the world's most valuable luxury group, with a market capitalization of approximately $280 billion compared to LVMH's $279 billion following LVMH's weaker-than-expected sales [12]. - The luxury market is experiencing volatility, with analysts cautioning that the recent surge in US sales may be a temporary phenomenon as consumers rushed to purchase items before tariffs took effect [9].

Financial Data and Key Indicators Changes - The group's consolidated revenue reached EUR 4.1 billion in Q1 2025, up 9% at current exchange rates and 7% at constant exchange rates [3] - Currency fluctuations had a positive impact of EUR 49 million on revenue [3] - The outlook for 2025 remains unchanged despite a more uncertain economic and geopolitical context [5] Business Line Data and Key Indicators Changes - Leather goods and saddlery grew by 10%, driven by new models [11] - Ready-to-wear and accessories increased by 7%, with successful presentations of new collections [13] - Silk and textiles grew by 5%, while perfume and beauty remained stable [14] - Watches continued its strategy with new complications unveiled, but faced challenges [15] Market Data and Key Indicators Changes - Asia (excluding Japan) grew by 1%, with local client loyalty driving sales despite a downturn in Greater China [7] - Japan recorded a growth of 17%, supported by local client loyalty [8] - The Americas grew by 11%, with strong performance in the U.S. [9] - Europe (excluding France) grew by 13%, while France saw a growth of 14% [9][10] Company Strategy and Development Direction - The company is reinforcing investments in production capacity with three additional leather workshops planned over the next three years [4] - Hermès aims to distribute over EUR 500 million to employees in profit sharing for 2024, reflecting its commitment to responsible employment [4] - The company continues to focus on a value-based strategy to maintain revenue levels [31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating economic uncertainties due to a highly integrated artisanal model [5] - There is cautious optimism regarding growth, with expectations of single-digit growth rather than double-digit [44] - The company remains vigilant about geopolitical changes impacting financial markets [44] Other Important Information - The company plans to open two new stores in the U.S. in H2 2025 [9] - Inventory levels have returned to normal, particularly for leather goods [24][72] Q&A Session Summary Question: Changes in trends due to U.S. news and tariffs - Management reported 11% growth in the Americas, with no significant changes in trends observed for early April [18][20] - Tariff levels have not been finalized, but price increases will be implemented to offset the impact [22] Question: Performance in Asia Pacific and Greater China - Growth in Greater China was flat compared to Q1 2024, attributed to a high comparative basis [28] - Taiwan showed dynamic growth, while Macau faced challenges due to a drop in Chinese tourists [29] Question: Breakdown of volume, price, and mix for Q1 - Mature markets showed solid growth with increasing volumes, particularly in France, Europe, and Japan [37] - Challenges were noted in silk and fashion accessories, particularly in China [38] Question: Future growth expectations - Management remains ambitious but cautious, expecting single-digit growth rather than double-digit [44] Question: Inventory levels and profitability - Low inventory levels were primarily noted in leather goods, while other categories were at normative levels [72] Question: Tariffs and price increases - Price increases in the U.S. will aim to offset the 10% tariff, with no increases planned for other regions [55][64]

Core Insights - LVMH has lost its title as the world's most valuable luxury company, with a market capitalization of approximately 244.1 billion euros, falling below Hermes, which has a market cap of 248.1 billion euros [1][3] Financial Performance - LVMH reported total revenue of 20.3 billion euros for the first quarter, reflecting a 3% organic decrease year over year, which did not meet analyst expectations and led to a decline in LVMH shares [5] - The fashion and leather goods segment of LVMH experienced a 5% organic year-over-year drop in revenue, totaling 10.1 billion euros in the first quarter [6] - Revenue from the wine and spirits segment was 1.3 billion euros, showing a 9% decrease, while watches and jewelry remained stable, and both perfumes and cosmetics and selective retailing segments saw a 1% organic decline compared to the first quarter of 2024 [6] Regional Performance - LVMH noted that Europe achieved growth on a constant consolidation scope and currency basis, while the United States experienced a slight decline despite good performance in Fashion & Leather Goods and Watches & Jewelry [7] - Japan's performance was down compared to the first quarter of 2024, which had benefited from strong growth in Chinese consumer spending [7] Company Outlook - LVMH expressed that it remains vigilant and confident at the start of the year, despite facing a disrupted geopolitical and economic environment [9]