Paris—After posting record-breaking sales for 2012 in February, Hermès International SCA today reported its slowest revenue growth in three years as its leathergoods sales slowed and its watch sales declined. For its first quarter of fiscal 2013, Hermès said revenue rose 12.8% at constant currencies to 856.8 million euros (about …
Executive Appointments at Hermès, Bebe, Crocs, Caché
Axel Dumas to Succeed Thomas as Hermès CEO Paris—Axel Dumas, a sixth generation member of Hermès’ founding family, was named the new chief executive officer effective in May. The 42-year-old scion of the luxurygoods house will work alongside current CEO Patrick Thomas during an unspecified transition period. Dumas, currently chief …
Hermès 2012 Profit Beats Expectations and Records
Paris—In marketing terms, Hermès enjoys a place at the top as “absolute luxury.” That rarified niche is proving lucrative, too, despite various economic problems that plague nations around the globe. Last week, the French luxurygoods company posted a record profit in addition to record sales for 2012. Hermès’ net profit …
“Defying Gravity” Hermès Q3 Leaps 24.2%
Paris—Unlike luxury brands such as Louis Vuitton and Gucci which has reported slowdowns in sales in recent quarters, Hermès continues to barrel ahead, posting today a 24.2% leap in its third quarter sales. Indeed, at its current rate, total year sales at constant exchange rates could exceed 13%–and the current …
Despite Concerns Over a Luxurygoods Slowdown, Hermès Q2 Sales Beat Estimates
Paris—While pace of its sales may have slowed somewhat in the first half, Hermès reported today that it expects full year sales of its luxurygoods to hit its target thanks to continued strong sales in Greater China. The company’s first half sales were up 21.9% to 1.59 billion euros (about …
Hermès Names Family Member to be Next CEO
Paris—Hermès International believes in keeping it in the family which is why the company’s majority shareholders–members of the founding family–have been so adamant against LVMH taking a stake in the company. The French luxurygoods house further strengthened those family ties today when it announced a sixth generation member of its …
Hermès Q1 Sales Soar, But Gives Cautious Outlook
Paris—Hermès International SCA reported that its first quarter sales soared nearly 22% boost by demand in Asia, Europe and the Americas. But concerns over the economy in Europe would likely mean lower sales the rest of the year, the company said today. For the quarter ended March 31, Hermès said …
Hermès Issues Special Dividend as 2011 Profit Spikes
Paris—Shareholders of Hermès International S.C.A. got a double dose of good news last week. The Paris luxurygoods house announced a special dividend on the heels of a company’s 2011 earnings report that included a 41% jump in its profit. The proposed special dividend of 5 euros a share is in …
Hermès Raises Full Year Forecast As Q3 Sales Jump
Paris—With its third quarter sales rising more than 18%, Hermès raised its full year forecast on Friday, saying it expects sales to increase 15% to 16%, up from its previous forecast for a 14% increase. Noting the company’s “remarkable” growth in Asia and the Americas, Patrick Thomas, ceo, said, “We …
Hermès Family Shareholders Get OK to Form New Company
Paris—Hermès International’s family majority shareholders got a go ahead today to form a holding company that would thwart any takeover attempt by LVMH, which has amassed a 21.4% stake in the luxurygoods house. A French appeals court ruled in favor of the family shareholders, who own more than 71% of …
Hermès’ Half Year Profit Jumps Nearly 50%
Paris—Hermès posted a 49% rise in first-half net profit, driven by the United States and China, and reiterated its sales and margin goals for the full year. Net income climbed to 290.9 million euros (about $420 million) in the first six months from 194.6 million euros a year earlier. The …
Hermes Lifts Forecast as Half Year Sales Climb
Paris—Reporting that its second quarter sales increased 22%, Hermès raised today its second half forecast, predicting sales increases of 12% to 14%. Although noting “uncertainties over the economic outlook and currency fluctuations,” Hermès raised its target for annual revenue growth and said first-half operating profit should grow “significantly” more than …
Hermes Q1 Sales Jump on Increased Demand for Accessories
Paris–Hermès International reported Wednesday that its first quarter sales jumped 25.5% on soaring demand for watches, scarves and fashion accessories. In its quarterly report—that topped most of its luxury rivals—Hermès posted sales of 637.1 million euros (about $918 million) from 507.7 million euros in its first quarter 2010. The sales …
Hermes Reports Surge in Annual Profits
Paris–Hermes International reported today a surge in its full year earnings with profits rising 44% to 668.2 million euros (about $933 million). The profit beat analysts’ average estimates 661.7 million euros. Sales rose 25% to 2.4 billion euros and margins exceeded a forecast that Hermes raised last month. While the …
Hermes Lifts Full-Year After 31% Q3 Sales Increase
Paris—Hermès continues to make news in luxury retailing and this time it’s not just about the recent fight over LVMH’s “hostile” stake in the 173-year-old luxury house. Reporting today that its third quarter sales jumped 31%, Hermès lifted its full-year sales and margin forecasts. Hermès said sales could rise around …
Hermes Launches its First Chinese Luxury Brand
Hong Kong—Hermès opened today its latest retail concept, Shang Xia, the first of what the French luxurygoods company hopes will be the next hottest Chinese luxury brand. The store, which is situated in the Hong Kong Plaza Mall, is the prototype for a “home grown” Chinese luxurygoods retailer that will …
As Sales Surge 23% in First Half Hermes Doubles Annual Forecast
Paris—Reporting nearly a 23% surge in first half sales, Hermes International today doubled its revenue forecast for the year—a strong indication that the luxury goods market is reviving. For January to June, the 173-year-old company reported $1.92 billion in sales, up 22.8% from the figure 12 months earlier. Full-year revenue …