Luxury fashion label Hermès has reported that its Q2 earnings showed a 9% year-over-year increase in sales, continuing to demonstrate its strong performance amid the luxury sector’s ongoing sales slump. The Birkin bag maker claims that its recent price increase strategy has been well-received by its customer base, enabling the company to pass on controversial US duties to its affluent clientele.

— Read more in Hermès Keeps Flying Higher Reporting 9% Sales Jump at Hypebeast.

Shares dipped 4 percent following the announcement, reflecting broader investor caution amid a decline in entry-level luxury. Sales in Hermès’ silk and beauty departments fell by 4 percent, and executive chairman Axel Dumas noted a decline in aspirational shoppers and first-time clients.

— Read more in Hermès Bucks the Luxury Downturn With 9% Sales Growth in Q2 at Robb Report.