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Sales up 31% in third quarter, Hermès
10 Nov '10
4 min read
Outlook
Based on the strong growth achieved in the third quarter, sales growth target for the year could be around 15% at constant exchange rates. Achieving this target assumes that solid sales growth will persist in the fourth quarter, on a particularly high basis of comparison in the fourth quarter of 2009.
Over the full year, the underlying operating margin is expected to improve by one to two percentage points by comparison with the 2009 level, depending on currency trends.
Hermès will continue to follow its long-term strategy of maintaining control over its know-how and distribution network. Over the full year 2010, Hermès will continue to invest in expanding its distribution network. It plans to open or renovate about twenty branches. The new store on rue de Sèvres in Paris will be inaugurated within a few days.
During 2010 – the year of “Tales to be told” – Hermès' sales growth will continue to be driven by its ambitious, alluring creative designs and by the vitality of its craftsmanship. This momentum will be sustained by rallying the distribution network's efforts to showcase our lavish collections and to highlight customer service – our strongest advantage in maintaining growth.
Based on the strong growth achieved in the third quarter, sales growth target for the year could be around 15% at constant exchange rates. Achieving this target assumes that solid sales growth will persist in the fourth quarter, on a particularly high basis of comparison in the fourth quarter of 2009.
Over the full year, the underlying operating margin is expected to improve by one to two percentage points by comparison with the 2009 level, depending on currency trends.
Hermès will continue to follow its long-term strategy of maintaining control over its know-how and distribution network. Over the full year 2010, Hermès will continue to invest in expanding its distribution network. It plans to open or renovate about twenty branches. The new store on rue de Sèvres in Paris will be inaugurated within a few days.
During 2010 – the year of “Tales to be told” – Hermès' sales growth will continue to be driven by its ambitious, alluring creative designs and by the vitality of its craftsmanship. This momentum will be sustained by rallying the distribution network's efforts to showcase our lavish collections and to highlight customer service – our strongest advantage in maintaining growth.
HERMES
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