Despite a slowdown in luxury goods demand impacting most competitors, platinum bag manufacturer Hermes (HESAF, Financial) announced growth in its third-quarter sales. The French luxury brand reported sales of €3.7 billion ($3.99 billion), reflecting an 11% year-over-year increase at constant exchange rates.
Analysts had expected sales to reach €3.69 billion, according to Visible Alpha's average forecast. Looking ahead, Hermes remains optimistic about midterm revenue growth at constant exchange rates but cautioned about uncertainties in the global economic, geopolitical, and currency environments.
