Hermès overtakes Bernard Arnault's LVMH to become France's most valuable company

Bernard Arnault is CEO of LVMH.

Reuters

• Hermès surpassed LVMH's valuation on Tuesday after Bernard Arnault's company reported disappointing sales.
• The 3% decline in first-quarter sales compared with a 2% rise forecast by analysts.
• LVMH stock has fallen 38% in the past 12 months, while Hermès is up 2%.

Hermès surpassed arch rival LVMH on Tuesday to become France's most valuable company after Bernard Arnault's conglomerate posted sliding first-quarter sales.