Leather lifts Hermes sales10 November 2010
French luxury brand, Hermes International, have reported, November 9, positive third quarter results thanks to strong leather goods sales. The company say that they expect a 15% rise in sales for the full year.
Sales for the first nine months rose 20% to euro 1.7 billion while third quarter sales reached euro 590.1 million. Hermes report that their operating margin is up 2% for the full year and that they plan to renovate 20 of their own stores. They will also be opening a new store in Paris in the near future.
Hermes, who specialise in high-end leather goods, equestrian and leather clothing and footwear say that most of the sales growth has been generated in their own stores. They have also been aided by favourable exchange rates with the dollar and Japanese yen.