Paris — Luxury goods maker Hermès said on Friday that
it notched up "solid" growth in the first six months of the year and in
the second quarter, driven by rising sales across all regions.
Hermès said in a statement that sales grew by 8.9% to ¤1.36bn ($1.6bn) in the three months to June,
pushing first-half sales up by 11.2% to ¤2.71bn, noting "The operating profitability at the end of June should be close to the highest historical level achieved last year".
Hermès’s CEO Axel Dumas told a telephone news conference, "We’re very happy with these results. They show the stability of our growth and the strength of our business model." But the company cautioned that the first-half performance "cannot be extrapolated over the full year, due, in particular, to the favourable impact of foreign exchange hedges in the first months of the year".
The group did not provide any specific sales targets for the current year, but said that "in the medium term, despite growing economic, geopolitical and monetary uncertainties around the world, the group confirms an ambitious goal for revenue growth at constant exchange rates".
Sales in Asia, excluding Japan, grew by 14% at constant exchange rates in the period from January to June. Sales in Japan were up 3%, sales in America grew by 9% and European sales were up by 7%.
By division, the leather goods and saddlery division notched up the strongest growth of 12%. Sales of ready-to-wear and fashion accessories expanded by 10%. The silk and textiles division grew by 6%, and perfumes by 8%.
Sales of watches, on the other hand, declined by 1% in the six-month period, which Hermès said was "penalised by a still challenging market".
AFP
Hermès said in a statement that sales grew by 8.9% to ¤1.36bn ($1.6bn) in the three months to June,
pushing first-half sales up by 11.2% to ¤2.71bn, noting "The operating profitability at the end of June should be close to the highest historical level achieved last year".
Hermès’s CEO Axel Dumas told a telephone news conference, "We’re very happy with these results. They show the stability of our growth and the strength of our business model." But the company cautioned that the first-half performance "cannot be extrapolated over the full year, due, in particular, to the favourable impact of foreign exchange hedges in the first months of the year".
The group did not provide any specific sales targets for the current year, but said that "in the medium term, despite growing economic, geopolitical and monetary uncertainties around the world, the group confirms an ambitious goal for revenue growth at constant exchange rates".
Sales in Asia, excluding Japan, grew by 14% at constant exchange rates in the period from January to June. Sales in Japan were up 3%, sales in America grew by 9% and European sales were up by 7%.
By division, the leather goods and saddlery division notched up the strongest growth of 12%. Sales of ready-to-wear and fashion accessories expanded by 10%. The silk and textiles division grew by 6%, and perfumes by 8%.
Sales of watches, on the other hand, declined by 1% in the six-month period, which Hermès said was "penalised by a still challenging market".
AFP
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