Hermès International : La panne en Asie se confirme, la franchise tient le cap mais tout de même un léger ajustement en baisse de nos prévisions
>La croissance au T3 pourrait passer sous les 10% avec une Asie qui reste difficile - Les commentaires du groupe confirment que la Grande Chine reste difficile sur le T3 avec des tendances toujours défavorables pour les produits les plus accessibles. Notre analyse des bases de comparaison sur la base des croissances depuis 2019 (croissance à 4 ans au T3 2023 à +146% contre 139% sur le T2) suggère dans ce contexte que la croissance y/y cc du groupe au T3 sur la zone A...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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