Hermes International: Q1 2024 And FY 2024 Should See Strong Sales As Well [Seeking Alpha]
HERMES INTL SA UNSP/ADR (HESAY)
NASDAQ:AMEX Investor Relations:
finance.hermes.com/en
Company Research
Source: Seeking Alpha
RMS saw strong demand momentum in all regions, particularly in China, where it gained share. RMS is a resilient business with the ability to raise prices and maintain volume demand, with positive growth and margin expansion expected in the near term. Investment action Based on my current outlook and analysis of Hermes International ( OTCPK:HESAY ) (RMS), I recommend a buy rating. I expect a strong 1Q24 and FY24 performance as high-end consumer demand continues to be very strong, so strong that RMS is able to push through another round of 8–9% pricing growth (a step up from the mid-single-digit price increase indicated in the 3Q23 earnings call). Notably, demand momentum was seen in all regions, particularly with relative share gains against Gucci in China, which saw a big slowdown in Chinese spending. Basic Information RMS is a well-known luxury brand with product offerings ranging from accessories to apparel and serves customers worldwide: 56% from Asia, 23% from Europe, 1
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News
- Hermes emerges as the outlier with strong China sales, while the rest of luxury bleeds from the lack of shoppers [Fortune]Fortune
- Hermes Defies Luxury Slowdown With Sales Jump in China [BNN Bloomberg (Canada)]BNN Bloomberg
- Hermes hires Latham team to fight consumers' Birkin bag lawsuit [Reuters]Reuters
- 40 Best Fashion Schools in the World for 2024 [Yahoo! Finance]Yahoo! Finance
- Chanel Flap Bag Now Costs More Than €10,000 in Paris [BNN Bloomberg (Canada)]BNN Bloomberg