Hermès first half results "the worst in the luxury sector"
03/09/2007
Analysts at BNP Paribas have said currency fluctuations involving the yen and the dollar, weak growth in the most important emerging markets, and a "less favourable" range of goods on offer have combined to hurt luxury goods brand Hermès.
Analysts at the bank have called the Paris-based company's results for the first half of the year "mediocre" and "probably the worst in the luxury goods sector".
They said specifically that one of the family-owned group's biggest problems was that "organic growth" in two of the three most profitable luxury goods sectors, leathergoods and watches, had been particularly weak.
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