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Hermès Sales Rose 8.9% in Q2

Hermès International on Friday reported an 8.9 percent rise in second-quarter sales, lifted by growth in Asia, and said it confirms an “ambitious goal for revenue growth” despite a backdrop of geopolitical uncertainties.

The maker of Birkin handbags and silk scarves said that sales rose 8.3 percent at constant exchange rates in the second quarter to 1.36 billion euros ($1.59 billion), with Asia posting the fastest growth.

Sales in that region were up 11.5 percent to 660.6 million euros. Excluding Japan, quarterly sales in Asia rose 14 percent to 490.7 million. Growth in continental China has driven the company’s robust sales performance in the first half of the year, the company said. Hermès also said that it expects operating profitability for the first half of the year to come close to the level of last year, when it hit a historical high. Those figures will be reported on Sept. 14.

Europe outside of France was the second-fastest-growing region in the second quarter, with sales up 10.9 percent to 246.5 million euros. Revenues in the company’s home market, France, inched up 0.6 percent to 189.4 million euros. Sales of fashion accessories and ready-to-wear products grew the fastest, up 13.5 percent to 296.3 million euros.

The leather goods and saddlery division clocked sales growth of 10.5 percent to 708.1 million euros. Hermès, which has increased production in recent months, opened two new French manufacturing sites in June. LVMH is due to report its first-half results on July 26, with Kering to follow on July 27.

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