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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.

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