Report
Jean Danjou

Hermès International : Retour à une croissance solide et plutôt homogène au T3, le contexte reste chahuté mais la franchise délivre

>Ventes T3 à +6.9% y/y en org., +6% au-dessus des attentes - On n’atteint pas les +12% en org. de LVMH F&L chez Hermès sur le T3 mais à près de +7%, la croissance organique du groupe apparaît solidement positive et dépasse les attentes (nous étions proches du consensus à c.+1%). On peut remarquer cependant que hors wholesale qui concerne principalement des catégories telles que parfums et soie, la progression des ventes (magasins propres) atteint tout de même… +12% à ...
Underlying
Hermes International SCA

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Jean Danjou

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