Hermes International : Still in good shape, not to be underestimated
>No concerns over H1 results, overall solid business and favourable profitability; full-year forecasts unchanged - We are leaving our forecasts unchanged at this stage, but the group’s tone seems assured. Aside from China where restrictions, as for all brands, hurt sales in Q2, top line growth remained robust, in some cases very robust (local clients everywhere seeing healthy trends, notably in France and Europe, upturn in travel retail). We forecast organic sales gro...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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