Hermes Records Slowest Growth in Years During Q1; Peers on Watch (COH) (RL)
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Financial Fact:
Operating income: 165.9M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Operating income: 165.9M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Coach (NYSE: COH), Ralph Lauren (NYSE: RL), Nordstrom (NYSE: JWN), Tiffany (NYSE: TIF), Signet (NYSE: SIG) and others are on watch Monday following quarterly data out of peer Hermes International (OTCBB: HESAF) earlier.
Revs rose 10 percent -- or 13 percent excluding foreign exchange -- to €856.8 million, versus consensus views looking for €854 million. Clothing a fashion accessory sales improved 18 percent, perfume was up 18 percent, and silk and textiles sales rose 15 percent. Tableware sales slipped 1.9 percent.
Data follows results reported last week from French luxury-goods giant LVMH, with revenue improving just 6 percent, with its fashion and leather goods segment seeing just 0.4 percent in increased sales. LVMH holds a 22.3 percent stake in Hermes.
Hermes noted weakness in China as one of the key factors behind the slowing. Leather-goods, which is Hermes largest revenue group, saw 7.3 percent of growth, down about half over the same period last year.
Overall growth was the slowest recorded since 2009.
Revs rose 10 percent -- or 13 percent excluding foreign exchange -- to €856.8 million, versus consensus views looking for €854 million. Clothing a fashion accessory sales improved 18 percent, perfume was up 18 percent, and silk and textiles sales rose 15 percent. Tableware sales slipped 1.9 percent.
Data follows results reported last week from French luxury-goods giant LVMH, with revenue improving just 6 percent, with its fashion and leather goods segment seeing just 0.4 percent in increased sales. LVMH holds a 22.3 percent stake in Hermes.
Hermes noted weakness in China as one of the key factors behind the slowing. Leather-goods, which is Hermes largest revenue group, saw 7.3 percent of growth, down about half over the same period last year.
Overall growth was the slowest recorded since 2009.
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