Hermes Lifts 2013 Revenue Goal As Quarterly Sales Miss Estimates

Hermes International SCA (RMS), the French maker of Kelly bags and silk scarves, raised its full-year revenue target even after reporting third-quarter sales that trailed analysts’ estimates as currency moves weighed on growth.

Annual revenue could exceed 11 percent at constant exchange rates, the Paris-based company said today in a statement, adjusting an earlier forecast of more than 10 percent growth.

Third-quarter sales climbed 5.5 percent to 895.5 million euros ($1.21 billion), Hermes said, trailing the 908 million-euro median of 9 analysts’ estimates compiled by Bloomberg. Excluding currency moves, sales advanced 13 percent.

To contact the reporter on this story: Andrew Roberts in Paris at aroberts36@bloomberg.net

To contact the editor responsible for this story: Celeste Perri at cperri@bloomberg.net

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