Hermes International : Q3 2018 sales +9.6%cc (vs Oddo BHF 9.1%cc), in line with forecasts. No trend reversal expected in Q4
>Q3 2018 sales +9.6%cc (vs Oddo BHF 9.1%cc), in line with forecasts - The Q3 2018 sales (€ 1.462bn, + 9.6%cc) were in line with our forecasts. Organic growth came in at 9.6%cc (vs Oddo BHF +9.1%cc).Q3 2018 sales by region:France (€ 197m, +4.1%cc, 1% above our estimates).Rest of Europe (€ 284m, +6.7%cc, 1% below our estimates).Japan (€ 181m, +8.1%cc, 2% above our estimates).APAC excluding Japan (€ 519m, +11.7%cc, in line with our estimates).§rc...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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