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Hermès Sales rise on strong dollar, yen
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Hermès Sales rise on strong dollar, yen

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Hermès shows some positive sales in the US and abroad.

Luxury company Hermès International S.c.a. said Friday it now expects sales to grow this year, after a recent pick-up in demand and a boost from the stronger dollar and yen pushed third-quarter revenue up 10%. Hermès said it now expects to “slightly beat” its previous target of steady sales when stripping out currency fluctuations, as long as current trading conditions persist. However, it also warned that operating income is likely to fall 5% this year, compared with its previous forecast for a “slight contraction,” because the strength of the euro will weigh on its earnings in the second half. “We remain prudent as it’s too early to say whether the pick-up is lasting — wholesale revenues are still lower,” Deputy Financial Director Lionel Martin-Guinard said Thursday in a conference call with analysts. From WSJ



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