Hermès does away with sales forecasts
14/09/2016
Hermès achieved revenue of €2.44 billion during the first six months of the year, a 7% increase in currency-neutral terms on the same period of 2015. Net income for the period was up 13% to €545 million.
Sales in Japan were particularly strong, recording a 10% increase year-on-year. Hermès said this was thanks to its “selective distribution network” and came despite the strengthening of the yen. The rest of Asia also saw an increase in sales (+5%), with good performance in China offsetting ongoing difficulties in Hong Kong and Macau.
Hermès said the 8% growth of sales in Europe confirmed the “resistance” of its stores in the face of recent terrorist events, particularly in France.
The brand described the 16% growth in sales from its leathergoods and saddlery division as “remarkable”. This growth was led by sales of handbags, including the Birkin and Kelly ranges. It added that the increase in capacities at its production locations in France also contributed to his strong performance.
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