Hermes Positive on 2024 After Sales Growth -- 3rd Update [MarketWatch]
BRUNELLO CUCIN UNSP/ADR (BCUCY)
NASDAQ:AMEX Investor Relations:
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Source: MarketWatch
with a surge in fourth-quarter sales, helped by its exposure to wealthy consumers. The French luxury-handbag maker on Friday posted revenue of 3.36 billion euros ($3.62 billion) for the last three months of 2023, up 17.5% at constant exchange rates from the prior-year period, beating analysts' expectations of EUR3.26 billion, according to a Visible Alpha consensus. Advertisement At constant exchange rates, all regions reported double-digit revenue growth for the final quarter, while Asia was the largest contributor to group revenue with EUR1.72 billion. The group's leather goods and saddlery business, which includes bags and small leather items and accounts for the majority of group revenue, saw a 10% increase in revenue to EUR1.37 billion. At 0957 GMT, Hermes's shares rose 4% to EUR2,158.50, taking its gain over the last year to 27% and making it the best-performing European luxury stock in that period. Advertisement Hermes's results are the latest sign of the divide in
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