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Nov 12, 2015
By Petah Marian
Luxury group Hermes’ sales have beaten expectations during the third quarter, despite a slowdown in the rate of growth.
The business was helped by demand for leather goods and ready-to-wear fashion, as comparable sales rose 7.9% during the second quarter, against a 9.7% rise during the second quarter. Analysts were expecting 7% sales growth over the period.
Revenue rose 15.4% to €1.14bn. In Asia, sales grew by 15.1% to reach €526m, while European revenue was up 15.8% to €396m.
The company said the growth in Asia came despite a “context in Hong Kong, Macao and to a lesser extent in continental China”.
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