HERMES sales continue growth trend, yet remains cautious about second half of 2010

Sales at HERMES International rose even faster in April and May than the 18,5% increase registered in the first quarter of the year, but these growth levels should drop off in the second half, Patrick Thomas, CEO said on Monday. ”Sales continue to progress at an extremely good rate for the time being, in fact at a rhythm superior even to the the first quarter, especially in watches” added Mr Thomas at the company’s annual meeting.

He also added that this strong growth should not provide the grounds for overestimating the forecasts for the end of the year. According to HERMES’s CEO, the company is also benefiting from the weakness of the EURO. As for Japan, which is Hermes’s leading market, the company CEO confirmed expansion through organic growth without opening new stores, rather expanding and enlarging existing ones.