Hermes: stock flat, despite excellent performance.
(CercleFinance.com) - The Hermes stock is flat this morning, even though the group announced Q3 sales that exceeded analysts' expectations.
Sales growth reached +11% at constant exchange rates. Growth has been driven by all geographic areas, with a balanced contribution from all businesses.
At end-September 2017, the group's consolidated revenues reached 4,050 million euros, up 10% at constant exchange rates and at current exchange rates. Sales growth was strong at the Group's stores (+11% at constant exchange rates).
Sales are growing in all regions of the world. Asia - excluding Japan - was up +14%, Japan reported 5% growth, despite the high yen, America was up +9% and Europe was up +9%. The group benefited from store openings and expansions in Rome, London and Munich, as well as solid growth in stores in France.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Sales growth reached +11% at constant exchange rates. Growth has been driven by all geographic areas, with a balanced contribution from all businesses.
At end-September 2017, the group's consolidated revenues reached 4,050 million euros, up 10% at constant exchange rates and at current exchange rates. Sales growth was strong at the Group's stores (+11% at constant exchange rates).
Sales are growing in all regions of the world. Asia - excluding Japan - was up +14%, Japan reported 5% growth, despite the high yen, America was up +9% and Europe was up +9%. The group benefited from store openings and expansions in Rome, London and Munich, as well as solid growth in stores in France.
Copyright (c) 2017 CercleFinance.com. All rights reserved.