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Hermès reports a sharp rebound in business in Q3

 

 

 

 

 

 

 

 

 

 

 

 

 

Hermès reports a sharp rebound in business in Q3

Hermès HRMS.PA reported on Thursday that its sales rebounded in the third quarter, which rose by 7% at constant exchange rates after falling by 41.5% in the previous quarter due to the coronavirus pandemic.

 

The luxury group, known for its leather handbags, said it observed strong activity in its stores, continued positive momentum in Asia and a “marked improvement” in all other regions.

 

In Japan, sales notably rebounded by 11% after a similar decline in the second quarter. In contrast, revenue declined 33% in France, still penalized by the reduction in tourist flows, which was not offset by local customers.

 

Hermès does not provide any forecasts for 2020. The Group states that “the impacts of the coronoravirus epidemic, whose magnitude, duration and geographical scope are changing daily, remain difficult to assess today“.

See Also


 

Read also > LVMH : LE GÉANT DU LUXE LIMITE LES PERTES AU TROISIÈME TRIMESTRE 2020, GRÂCE À LA MODE ET LA MAROQUINERIE

 

Featured photo : © Hermès

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