Hermes International 3Q Revenue Returned to Growth as Asia Sales Rose Significantly

   By Joshua Kirby

Hermes International SCA said Thursday that revenue returned to growth in the third quarter, driven by in-store performance and strong sales growth in Asia.

Revenue for the period grew 6.9% at constant exchange rates to 1.80 billion euros ($2.14 billion) from the same period the previous year, the French luxury-goods company said.

Sales in stores were up 12%, while Asia sales grew 29% on the year. Online sales were notably strong in the region, the company said.

Hermes, best known for its leather bags, said the impact of the coronavirus pandemic on full-year results remained difficult to assess, but confirmed its "ambitious" medium-term goal for revenue growth at constant exchange rates.

Write to Joshua Kirby at joshua.kirby@dowjones.com

(END) Dow Jones Newswires

October 22, 2020 02:44 ET (06:44 GMT)

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