Hermès reports solid sales growth in Q3 2024, with revenue up 14% at constant rates.

From GlobeNewswire: 2024-10-24 02:00:00

Hermès reported solid sales growth at the end of September 2024, with revenue up 14% at constant exchange rates and 11% at current rates. All regions showed growth, with notable increases in Japan (+23%) and Europe excluding France (+18%). The company remains committed to sustainable practices and local job creation, recently opening a new leather goods workshop in Riom. The Watches sector was the only one to see a decline in revenue.

The Asia-Pacific region, excluding Japan, saw a 7% increase in sales, supported by strong performance in several key markets. Despite challenges in Greater China, Hermès saw growth in the third quarter, with store expansions and renovations contributing to success. Other sectors like Perfume and Beauty (+7%) and Ready-to-wear and Accessories (+15%) also experienced positive growth.

Hermès continues to emphasize its commitment to craftsmanship and responsible business practices, as evidenced by the opening of the new workshop in Riom. The company’s focus on heritage and sustainability has earned recognition from rating agencies. Currency fluctuations had a negative impact on revenue, but the company remains confident in its growth outlook. Keeping control over know-how and maintaining customer loyalty are key priorities for Hermès.



Read more at GlobeNewswire:: Hermès International: Third Quarter 2024 Revenue