Hermes Sales Rise as US, Europe Shoppers Splurge on Birkins
- Leather goods, ready-to-wear exceed analyst expectations
- Hermes is confident for 2023 despite uncertain environment
Hermes sales jumped as wealthy shoppers in the US and Europe splurged on the French company’s pricey Birkin and Kelly bags.
Revenue rose about 16% at constant exchange rates in the third quarter, Hermes International said in a statement Tuesday. Analysts had expected a gain of 13%. Growth in the Americas topped estimates, while the performance in Asia Pacific excluding Japan was in line.