Trade Now

Capital at risk Advertisement
Share Name Share Symbol Market Type
Hermes International EU:RMS Euronext Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -10.50 -0.86% 1,206.50 1,206.50 1,207.50 1,225.50 1,200.00 1,225.00 18,163 10:02:19

Hermes 3Q Revenue Surged on China Sales, Europe Tourism Rebound

21/10/2021 7:53am

Dow Jones News

Hermes (EU:RMS)
Historical Stock Chart

From Oct 2021 to Oct 2022

Click Here for more Hermes Charts.
   By Joshua Kirby 

Hermes International SCA's revenue rose strongly in the third quarter, driven by sales in Greater China and the return of tourists to European cities.

The French luxury-fashion company on Thursday posted revenue of 2.37 billion euros ($2.76 billion) in the quarter, an increase of 31% at constant currency from the EUR1.8 billion it booked in the same period last year, and 40% higher over two years.

Analysts had expected sales of EUR2.24 billion, according to a consensus of three estimates provided by FactSet.

Hermes's best performance was in Asia excluding Japan, where sales were 67% higher than in the third quarter of 2019. This was aided by "remarkable" performance in Greater China, the company said.

In Europe, sales were 23% higher over two years thanks to the partial return of tourists and store renovations in Milan and Paris, Hermes said.

The result compares favorably to rival LVMH Moet Hennessy Louis Vuitton SE's own fashion division, which posted a 38% increase over two years at the group's third-quarter update last week.

Nevertheless, Hermes's pace of growth could falter in the year's final quarter as demand runs ahead of production capacity for the Parisian group, analysts at Stifel said in a recent research note.


Write to Joshua Kirby at; @joshualeokirby


(END) Dow Jones Newswires

October 21, 2021 02:38 ET (06:38 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

1 Year Hermes Chart

1 Year Hermes Chart

1 Month Hermes Chart

1 Month Hermes Chart
ADVFN Advertorial
Your Recent History
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

Log in to ADVFN
Register Now

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20221003 09:17:26