From The BBC:
Luxury goods group Hermes has reported a 12% rise in second-quarter sales, led by a big increase in demand for its handbags and other leather items.Global sales at the French company totalled 446.6m euros ($635m; £387m) in the April-to-June period, up from 398.1m euros a year earlier. Sales of its leather goods rose 33%, to 228m euros, and now account for more than half the firm’s revenues. The firm’s most expensive handbags can cost more than 10,000 euros. Watch woesHermes said it would “continue to invest significantly” in the business during the second half of the year, including opening new stores and renovating current outlets, “primarily in Asia and the US”.
Second-quarter sales at the firm’s ready-to-wear clothing and fashion accessories division were up 13%, while they rose 11% at its silk and textiles unit. However, sales of its watches, perfumes, and tableware goods were all down. Analyst Dennis Weber of Evolution Securities said Hermes was helped by the strength of it…
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