PARIS Feb 8 French luxury goods group Hermes
said on Wednesday that sales growth rose 6.6 percent
in the fourth quarter, at constant exchange rates, coming close
to market expectations.
Fourth quarter sales reached 1.505 billion euros ($1.60
billion), with growth slowing from 8.8 percent in the third
quarter. This compared with analysts' expectations of 7.1
Hermes, known for its $10,000 Birkin bags and $400 printed
silk scarves, said the improvement was driven mainly by its
leather goods division, while other divisions also performed
well although its watches unit fared slightly less better.
The group kept its forecast for a full year 2016 operating
margin being slightly higher than 2015's 31.8 percent of sales.
Hermes added it was keeping an "ambitious" medium-term goal
for revenue growth at constant exchange rates, despite growing
economic and geopolitical uncertainties around the world.
($1 = 0.9377 euros)
(Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta)