Hermes International : Constrained production in short term but stronger sustainable growth further out
>Q2 sales growth at two years forecast at +24% after +33% in Q1, full-year forecasts largely unchanged at this stage - We do not think that Hermès will be able to exceed +20%/+25% growth-wise at two years in Q2 as the trend for the group in the short term, with growth remaining robust for luxury goods in general and for its brand's creations in particular, is being held back by ongoing expansion in production capacity in leather goods (50% of sales); after two-year gr...Hermes International is engaged in the manufacture, sale, and distribution of luxury goods primarily in France, rest of Europe, Japan, Asia-Pacific, and Americas. Co.'s activities can be divided into two segments: the distribution via Co.'s exclusive network and the distribution via specialist outlets. The distribution via Co.'s exclusive network comprises silks and textiles, leather goods and saddlery, ready-to-wear and fashion accessories (men and women's clothing, belts, jewellery accessories, gloves, hats and shoes), and other goods (jewellery and products of the art of living department). The distribution via specialist outlets comprise perfumes, tableware and watches.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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