Last week, Hermes posted the biggest surge in first-quarter sales of all European luxury goods companies, “pointing to a continued polarisation of the market in which well-established brands crush weaker rivals." (according to Reuters).We couldn't agree more, it's clearly all about the "H" word... Hermes and heritage have certainly risen to the top with these 1st quarter results. An 18.5 percent increase in sales is significant... another 'H' word, haute mode indeed.
But Hermes' CEO warns whatever you do, don't extrapolate these figures for the full year. Although a couple of the major financial institutions, HSBC and Credit Suisse, believe Hermes’ full year forecast of 5 percent is too conservative. All bodes well thus far for Hermes.
For more Hermes news, see Bloomberg’s article (Buy Birkin Bags, Sell Shares as Analysts Say Hermes Overvalued), which reveals that “based on a measure of price-to-earnings, Hermes stock is about 78 percent pricier than competitors including LVMH”
Image courtesy of BBC News. It shows a Hermes store in Tokyo.
But Hermes' CEO warns whatever you do, don't extrapolate these figures for the full year. Although a couple of the major financial institutions, HSBC and Credit Suisse, believe Hermes’ full year forecast of 5 percent is too conservative. All bodes well thus far for Hermes.
For more Hermes news, see Bloomberg’s article (Buy Birkin Bags, Sell Shares as Analysts Say Hermes Overvalued), which reveals that “based on a measure of price-to-earnings, Hermes stock is about 78 percent pricier than competitors including LVMH”
Image courtesy of BBC News. It shows a Hermes store in Tokyo.
