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Hermes revenue up 6.1% despite market pressure

Staff writer ▼ | April 28, 2016
Hermes consolidated revenues amounted to €1 191 million in the first quarter, up 6% at constant exchange rates and current exchange rates.
Hermes   The posted solid sales growth
The group's stores posted solid sales growth (+8% at constant exchange rates) in all the regions, despite the more challenging conditions.

Japan (+13%) continued its excellent performance, thanks to the success of its highly selective distribution network. Asia excluding Japan (+4%) continued to grow, due largely to the rise in sales in mainland China, despite a difficult context in Hong Kong and Macao.

America (+4%) developed in a still contrasted environment. Europe (+9%) saw an increase in the Group's stores which fared remarkably well, despite the negative impact of recent events, particularly in Paris. The 7th Saut Hermes took place successfully at the Grand Palais.

At the end of March, currency fluctuations were slightly unfavourable, representing a non-significant impact on revenues (€1 million).

During the first quarter, Hermes International redeemed 939 shares for €0.3 million, outside transactions completed within the framework of the liquidity contract.