Hermès: growth accelerates in Q1

(CercleFinance.com) - The French luxury group Hermès International has had a robust start to 2018: sales growth at constant exchange rates (also on a like-for-like basis, as there were no changes in the consolidation scope) reached 11%, almost as good as at LVMH (13%), over the period from January to March (Q1 2018), representing sales of 1.
39 billion euros.

The group has confirmed its forecasts.

By way of comparison, this rate reached 8.6% for FY 2017, including 5% in Q4, while management said that on 8 February, it was aiming for ambitious growth in sales at constant rates for 2018. This target, which was not provided, was confirmed this morning.

Still excluding FX factors, the momentum was boosted by Asia and N&S America. By division, Leather Goods and Saddlery (about half of sales; +7.5% in Q1 2018), Clothing & Accessories (+17.1%), Perfume (+16.1%) and Watchmaking (+11.3%) all stood out.
All trades reported strong growth, as did all geographical areas, company boss Axel Dumas said.


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