Hermes sales growth full year 2013 may exceed 10 percent
Hermès International said sales growth this year may top 10 percent after reporting revenue that surpassed analysts’ estimates in the second quarter. Sales climbed 12 percent to 910.4 million euros ($1.2 billion), the Paris-based company said today in a statement. Analysts predicted 897.4 million euros, according to the average of five estimates compiled by Bloomberg.
Sales excluding currency swings rose 16 percent, topping estimates for 13.5 percent growth. Leather-goods sales advanced 12 percent, accelerating from the first-quarter’s 7.3 percent gain, as Hermès was better equipped to serve Asian demand for its Birkin and other handbags after opening two new workshops last year. The company expects production capacity to increase steadily throughout 2013.