Hermes International : Difficulties in Asia are confirmed, the franchise is staying the course but a slight downward adjustment to our forecasts
>Growth in Q3 could fall below the 10% mark with Asia remaining difficult - The group's comments confirm that Greater China remains difficult in Q3 with trends still unfavourable for the most accessible products. Our comparison base analysis on the basis of growth since 2019 (growth at 4 years in Q3 2023 at +146% vs 139% for Q2) suggests in this context that y-o-y cc growth at group level in Q3 in the Asia zone excluding Japan (with Greater China representing the bul...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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