Skip to main content

Hermès Q4 Sales Rise 10.7% at Constant Rates

PARIS — Hermès International reported revenues rose 10.7 percent over the last three months of 2019 at constant rates, slowing from the previous quarter and giving a snapshot of luxury business before the coronavirus outbreak. In its annual results statement, the high end silk and leather goods company made no mention of the virus, which is disrupting business and weighing heavily on share prices across industries: Luxury goods groups have seen a $25.5 billion decrease in market capitalization since Monday. “Hermès achieved outstanding performances this year, based on a balanced growth in all the business lines and in all the geographical areas,” Hermès chief executive officer Axel Dumas said in a statement. Annual profit was 1.53 billion euros, 22.3 percent of sales. Fourth-quarter sales reached 1.87 billion euros, with the fastest growth coming from its smallest region, the Americas. “Strong as expected,” said Luca Solca, an analyst with Bernstein, in an email note to clients. “Hermès should prove among the most resilient in the slowdown – waiting lists for its iconic products should partially offset its relatively high exposure to Chinese nationals globally.” Asia, the company’s most important region, clocked 10.2 percent growth at constant rates, dragged down by a slight decrease in Japan, down 0.1

Follow WWD on Twitter or become a fan on Facebook.



from WWDWWD https://ift.tt/2SYoT1S
Labels:

Comments

Post a Comment

Popular posts from this blog

Prince Harry Returns to London With His Signature Style for the Invictus Games Foundation 10th Anniversary

Prince Harry returned to London on Tuesday and Wednesday for events celebrating the 10th anniversary of The Invictus Games Foundation. The Duke of Sussex is the patron of the Invictus Games, a multisport event for wounded, injured and ill servicemen and women launched in March 2014. On Tuesday, Prince Harry was joined by journalist Louise Minchin, entrepreneur Sir Keith Mills and more for a panel conversation titled “Realizing a Global Community.” For the occasion, the British royal family member kept his business attire approachable, opting for a gray suit and white button-down shirt with the top few buttons undone. Louise Minchin and Prince Harry The Duke of Sussex’s conversation with panelists highlighted the global impact the Invictus Games have had since their inception 10 years ago. Prince Harry was also on hand for another event on Wednesday. Prince Harry The Duke of Sussex attended The Invictus Games Foundation 10th Anniversary Service at St. Paul’s Cathedral on Wednesday, ...
Post a Comment
Read more

Michael Urie Is in His Dreamy Era

“It’s been a dreamy couple of years,” says Michael Urie on a Friday afternoon phone call, just hours before a performance of his latest Broadway show “Once Upon a Mattress” at the Hudson Theatre. These dreamy years have also been busy ones for the star, who rose to fame for his role as Marc St. James on the sitcom “Ugly Betty.” Now, Urie stars in the hit Apple TV dramedy “Shrinking” alongside Harrison Ford and Jason Segel — season two premieres Oct. 16. He has also taken the stage by storm over the past couple of years, starring in Broadway’s revival of “Spamalot” and now the revival of “Once Upon a Mattress,” which also had a stint at New York City Center in the winter. While both shows feature Urie in showstopping musical numbers, he never considered himself to be “very musical.”  Michael Urie in “Once Upon a Mattress.” “Doing a musical at all, it’s still a pinch me thing,” he says. “I fell in love with theater because of musicals…[but singing] didn’t come naturally to me.” ...
Post a Comment
Read more

The 12 Best Sunscreens for Acne-prone Skin, According to Dermatologists

If you purchase an independently reviewed product or service through a link on our website, WWD may receive an affiliate commission. If you deal with acne, odds are that you think twice before applying anything new on your skin — forbid the wrong serum, moisturizer, or makeup primer causes a flare up. Sunscreen is a non-negotiable in all skin care routines, and the very best sunscreens for acne-prone skin types will keep your skin calm and covered this season. Regardless of your skin type, tone, or texture, sunscreen is vital for preventing skin cancer, hyperpigmentation, and fine lines and wrinkles. In fact, daily use of a facial sunscreen with a minimum SPF 15 may reduce your risk of developing melanoma, the most serious form of skin cancer, by a whopping 50 percent, according to a 2011 randomized controlled trial published in the Journal of Clinical Oncology. Though most dermatologists agree that SPF 30 is the sweet spot for everyday coverage — particularly in the summer, when t...
Post a Comment
Read more