HermA?s International Euro Keeps Growth In Check
During the first quarter of 2007, the French luxury products group Hermès International saw its sales increase by 1.3% to 366.1 million euros. On a like for like basis, i.e. at constant exchange rates, turnover increased by 6.5%. The strength of the euro against the dollar and yen therefore cost the group a loss of more than five growth points. Watchmaking activity brought in 21.0 million euros, compared to 20.7 million from January to March 2006 (+7.7% at constant exchange rates). In Japan, an essential market for luxury groups currently suffering from the weakness of the currency, Hermès sales fell by 11%, to 89.7 million euros (-1.2% at constant exchange rates).
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