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Feb 13, 2014
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Yen weakness drags on Hermès fourth quarter sales growth

By
Reuters
Published
Feb 13, 2014

PARIS, France - French luxury goods maker Hermès posted a 4.6 percent rise in fourth-quarter sales thanks to solid demand for its leather handbags, silks and ready-to-wear ranges, across regions, although yen weakness weighed on growth.

The maker of Birkin bags and printed silk scarves said on Thursday sales in the three months reached 1.09 billion euros ($1.48 billion), with a rise at constant exchange rates of 11 percent, undershooting analysts' expectations of 12 percent and down from 12.9 percent in the third quarter.

Asian sales outside of Japan led growth with a 10.7 percent sales rise. European sales grew 8.8 percent and revenue in the Americas was 3.3 percent higher, but foreign exchange effects dragged Japanese sales down by 18.3 percent in the quarter.

Sales in 2013 were up 7.8 percent, or 13 percent at constant exchange rates.

Hermès also announced an interim dividend of 1.5 euros per share.



$1 = 0.7359 euros

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