Apr. 14, 2015, 7:51 AM
- Luxury spending in Europe appears to be on the rise, notes retail watcher Rahul Sharma.
- The analyst notes Audi, BMW, and Mercedes-Benz all posted March sales records.
- Yesterday, LVMH (OTCPK:LVMHF, OTCPK:LVMUY) reported sales increased 16% to €8.3B $8.8B (+3% ex-currency) in Q1 off of a tough comparable period. Sales for the selective retailing category were up 20% Y/Y.
- The trend could set up well for Tiffany (NYSE:TIF), Ralph Lauren (NYSE:RL), Coach (NYSE:COH), Michael Kors (NYSE:KORS), Hermes (OTCPK:HESAF, OTCPK:HESAY), and Richemont (OTCPK:CFRUY, OTCPK:CFRHF) which have suffered a bit with Chinese tourism to Europe down.
Mar. 25, 2015, 8:14 AM
- Hermes (OTCPK:HESAF, OTCPK:HESAY) reports a 7% increase in operating profit in 2014 to €1.3B ($1.4B).
- Revenue was €4.119B ($4.528B), +10% Y/Y and +11% at constant exchange rates.
- Operating margin rate -90 bps to 31.5% as currency hedging played a factor.
- Sales are expected to grow 8% (constant currency) this year which is below previous guidance from the luxury retailer.
- Retail analyst Rahul Sharma calls out that Hermes' 11% sales growth rate and +30% margins easily top the mark of luxury peers. "Selling to the super-rich working better than ever," he notes.
- Hermes earnings release (.pdf)
Feb. 12, 2015, 11:08 AM
Jan. 29, 2015, 6:00 AM
- Apple (NASDAQ:AAPL) overtook Hermes International (OTCPK:HESAF, OTCPK:HESAY) as #1 luxury gifting spot in China.
- Apple posted a 70% rise in sales in China in the last three months of 2014.
- Overall, spending on gift-giving fell 5% Y/Y, following a 25% drop in 2013. Beijing has been cracking down on corruption and luxury spending among public officials.
Currently, there's no company description for HESAY.
Industry: Apparel Stores
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