AFP, PARIS: French luxury goods group Hermes warned yesterday that sales growth would probably fall below target this year because of economic and political uncertainties.
Hermes’s share price dropped sharply in an early reaction, before being swept higher in a buoyant overall Paris stock exchange.
Hermes sales in 2015 rose by 18 per cent from the previous year, the company also reported, and by 8 per cent once the favourable impact of the strong dollar was stripped out.
In the fourth quarter alone, sales were up 15 percent, and 7 percent at constant exchange rates, “despite the impact of the recent events in France and, to a lesser extent, in Europe”, it said.
But weakness in the luxury goods sector in the wake of terror attacks in Paris and elsewhere would probably take its toll on turnover this year, it warned. “We were strongly impacted by the attacks and things have not yet returned to normal,” Hermes chairman Axel Dumas told AFP. “In January we have again seen a heavy fall in tourism to France, across the board.”
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Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.
Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.