Hermes International : Still showing robust growth despite China
>Asia at +1% in Q3, but overall growth above +11% - Based on Q3 sales reported at € 3,704m (we were expecting € 3,647m and the Visible Alpha consensus was at € 3,692m), the group’s y-o-y growth cc slowed to 11.3% over the quarter after a Q2 at 13.3% but remained comfortable in view of sector activity likely down -2%/-3% over the period. Leather goods posted growth of 14% (we were expecting +11.8%), which for the rest of the portfolio gives growth that is weaker but st...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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