Hermes Sales Jump as China, US Shoppers Snap Up Kelly Bags
- Trends in early April in US, China similar to first quarter
- CFO says second quarter will benefit from easy comparables
Hermes International’s quarterly sales jumped as Chinese shoppers snapped up its pricey scarves and Kelly handbags, fueling optimism the global luxury industry’s top performers will carry on growing despite economic headwinds.
Revenue climbed 23% in the first three months of the year at constant exchange rates, Paris-based Hermes said Friday, exceeding analysts’ estimates. The shares rose as much as 2% in early trading, and have gained more than a third in 2023.