French luxury group Hermes International’s reported a drop in first-quarter revenues due to late deliveries, but said the pace quickened in March and April, and that it maintained its goal for full-year organic sales growth of 8 percent.
Hermes reported that sales in the three months ended March climbed 3.3 percent to 324.8 million euros, from 314.5 million euros a year ago, driven by robust sales in its main leather goods category. Though sales grew 8 percent in Hermes retail outlets, the company was weaker at wholesale, due mainly to late deliveries in small leather goods, watches and tableware.
Fashion also is performing and the sales of Jean Paul Gaultier’s second ready-to-wear collection for the house has been deemed “very good.” Overall sales of rtw and fashion accessories, including shoes, gloves and hats, improved 7.2 percent to 75.8 million euros.
Fragrance sales jumped 19 percent on “excellent” sales of the new Un Jardin sur le Nil perfume. Silk sales gained 3.6 percent to 36.7 million euros. Performance in the U.S., where sales gained 16.7 percent at constant currency rates to 49.6 million euros. After exchange conversions, sales in the U.S. were up 12 percent.
Though European sales only rose 8 percent to 52.3 million euros, the firm had seen a return of tourist trade and had felt an “upswing in March and April. Japan, with a 3.5 percent sales gain to 95.8 million euros, was marred in the quarter by delivery issues that Maury said had been resolved. She said sales there should gain some 8 to 10 percent for the year.
Click Here: France Rugby Shop
www.hermes.com
Recent Comments