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Reuters
Published
Jul 21, 2009
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Leather bags help Hermes second quarter sales rise 12 percent

By
Reuters
Published
Jul 21, 2009

PARIS, July 21 (Reuters) - French luxury goods group Hermes (HRMS.PA) posted a 12 percent rise in second-quarter sales, driven by demand for its leather bags.


Hermès

Hermes said on Tuesday 21 July the trend in the first half was in line with its full-year target of steady sales at constant exchange rates, with a slight contraction in current operating income.

Second-quarter revenue rose to 447 million euros ($633 million), it said. Growth was 3.9 percent at constant exchange rates. During the period, Hermes's leather goods and saddlery division saw sales rise by a third to 228 million euros, accounting for over half of total revenue.

"The group will continue to invest significantly in the second half during which it will open or renovate more than 10 stores, primarily in Asia and in the United States," the provider of silk scarves and 10,000-euro leather bags said.

Its silk and textiles business posted an 11 percent rise in sales to 45.8 million euros. Ready-to-wear and fashion accessories contributed 13 percent growth to 77.9 million euros. (Reporting by Astrid Wendlandt; Editing by Dan Lalor) ($1 = 0.7063 euro)

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