{"id":123863,"date":"2023-10-24T12:51:57","date_gmt":"2023-10-24T10:51:57","guid":{"rendered":"https:\/\/luxus-plus.com\/third-quarter-hermes-posts-slower-but-still-strong-growth\/"},"modified":"2023-10-24T20:18:27","modified_gmt":"2023-10-24T18:18:27","slug":"third-quarter-hermes-posts-slower-but-still-strong-growth","status":"publish","type":"post","link":"https:\/\/luxus-plus.com\/en\/third-quarter-hermes-posts-slower-but-still-strong-growth\/","title":{"rendered":"Third quarter: Herm\u00e8s posts slower but still strong growth "},"content":{"rendered":"

The saddler from the rue du Faubourg Saint-Honor\u00e9 slowed down a little in the third quarter. However, it performed better than expected and continues to be dynamic worldwide, including in the United States and China.<\/h4>\n

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While astonishment is the theme inspiring the creation of Herm\u00e8s in 2023, the saddler also continues to astonish with outstanding performances.<\/strong><\/p>\n

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And while luxury goods shares tend to fall on the stock market, the luxury group saw its share price rise by 2.5% on the Paris Bourse<\/strong> in trading following the publication of its quarterly sales figures.<\/p>\n

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Admittedly, sales slowed slightly in the third quarter (+15.6% at constant exchange rates to 3.13 billion euros<\/strong>, following increases of +23% in the first quarter and +27.5% in the second. However, the Group outperformed the Visible Alpha consensus forecasts<\/strong>, which were expecting a 14% increase in sales at constant exchange rates.<\/p>\n

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7% price increase<\/h2>\n

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And the saddler is still posting double-digit growth<\/strong>, whereas Lvmh had opened the results ball with the disappointing announcement of organic growth decelerating to 9% (only +1% reported) between July and September 2023.<\/p>\n

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It should be pointed out, however, that part of Herm\u00e8s’ growth in value is linked to its global price increases of around 7% in 2023<\/strong>, “to account for rising production costs, with the exception of the United States, where increases were around 3%, and Japan, where they were higher, in double digits, due to currency effects.”<\/p>\n

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