Shares of Hermès International S.A. experienced an approximately 3% increase during early trading in Paris on Thursday. This positive movement followed the French luxury design house and manufacturer's announcement of improved third-quarter sales, along with the reaffirmation of its growth outlook for the medium term.
For the third quarter, Hermès reported a sales increase of 10.1%, reaching 3.70 billion euros compared to 3.37 billion euros in the previous year. At constant exchange rates, sales rose by 11.3%.
Growth was observed across all regions, even against a challenging comparison base in Europe and Asia-Pacific. In Europe, total sales amounted to 949 million euros, with a 16.5% increase on a reported basis and a 17.4% rise at constant rates.
Asian sales increased by 3.5% from the previous year, totaling 1.94 billion euros. Excluding Japan, Asia-Pacific sales saw a slight uptick of 0.6%, reaching 1.58 billion euros. Meanwhile, sales in Japan surged by 18.5%, and the Americas experienced an 11% growth.
For the first nine months of fiscal year 2024, Hermès reported consolidated revenue of 11.2 billion euros, marking an 11% rise at current exchange rates and a 14% increase at constant exchange rates.
Looking forward, the company remains optimistic despite global economic, geopolitical, and monetary uncertainties. Hermès reiterated its ambitious aim for revenue growth at constant exchange rates.
In Paris, Hermès shares were trading at 2,121.00 euros, reflecting a 2.91% increase.
