Customers wait in line to enter an Hermes store in Hong Kong
Hermes International SCA (RMS) reiterated forecasts after reporting a 6.3 percent rise in first-half earnings as the world’s wealthiest consumers continued to seek out products like its $10,000 Birkin bags.
Operating profit reached 621 million euros ($818 million) from 584 million euros, Paris-based Hermes said today in a statement. Analysts predicted 617 million euros, according to the median of nine estimates compiled by Bloomberg. Earnings as a proportion of sales narrowed to 32.6 percent from 33.1 percent, weighed down by unfavorable exchange rates. The stock rose 1.1 percent at 9:18 a.m. in Paris to 264.50 euros. Read more.
