Hermes reports spectacular Q2 financials but warns on euro
Luxury giant Hermes pursues its continued outstanding performance, outpacing all its competitors and defying the international weak economic context. Hermes Q2 revenue rose 22.2% (9.7% after accounting for the positive impact of currency changes) to 1.177 billion euros ($1.3 billion).
Slower sales in China, particularly Hong Kong and Macau, were offset by Japan where Hermes recorded a 27% sales increase, mainly due to the booming number of wealthy Chinese shoppers. America was the second best performing market with a 10% jump in sales, followed by Europe (
Leather-goods and saddlery was the best performing product category with sales rising 15 percent on the same basis. Watches returned to growth after five quarters of declines.
The company maintains its mid-term goal for revenue growth of about 8 percent at constant exchange rates. However, the company warns of a slight decline in operational profitability for the first half of 2015 due to the weak eur