Hermes third-quarter sales beat expectations thanks to sales of leather goods

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”.

STAY UP TO DATE: You want the need-to-know news, right? Our journalists deliver a daily curation of the most important industry happenings. Sound good? Join WGSN.

Know what’s next. Become a WGSN member today to benefit from our daily trend intelligence, retail analytics, consumer insights and bespoke consultancy services.