Hermes International : Return to solid and reasonably homogeneous growth in Q3, the context remains bumpy but the franchise delivers
>Q3 sales up +6.9% y-o-y organic, +6% above the consensus - Hermès did not achieve the +12% organic growth generated by LVMH F&L in Q3, but at close to +7%, the pace of organic growth at the group appears firmly positive and exceeded expectations (we were close to the consensus forecast of around +1%). However, we would note that without the wholesale business, featuring primarily the perfume and silk product categories, retail sales growth (own stores) nonetheless ac...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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