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

To contact the editor responsible for this story: Celeste Perri at

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.