Hermés overcomes its own profit forecastFriday, 10 February 2012
HermesInternational SCA published full-year sales
over their own forecast thanks tothe improved profit margin. Larger gains are to be attributed to strong demandin the Americas and Asia.
Thursdayclosed in positive for the French label, which saw its revenue climbed 18percent to 2.84 billion euros ($3.78 billion) in 2011, exceeding its forecastfor growth of 15 percent to 16 percent. The average of 16 analysts’ estimateswas 2.81 billion euros, reported Bloomberg.
Theoperating margin widened “significantly” and exceeded 30 percent, according toHermes, which previously forecasted the profit to be higher than2010’s 27.8 percent.
Sales atthe company’s stores rose 19 percent in the year, outpacing growth of 15percent in the wholesaling unit. Hermes opened 13 outlets, acquired fourconcessions and renovated or extended eight other stores, it said.
Asia wasthe company’s fastest-growing region, increasing sales by 29 percent, excludingJapan, where they fell 1 percent after the earthquake at the beginning of theyear. In the same vein, revenue rose 26 percent in the Americas region and 16percent in Europe, where the company opened branches in Berlin, Rome, Barcelonaand Istanbul.