Hermes Q1 sales rise 27% at constant exchange rates

2022.04.14 09:46

FILE PHOTO: The logo of French luxury group Hermes is seen at a store in Zurich, Switzerland February 17, 2021. REUTERS/Arnd Wiegmann

PARIS (Reuters) – Sales at Birkin bag maker Hermes jumped 27% in the first quarter, lifted by strong appetite for its luxury accessories, particularly in the United States and Europe, as the sector powers through turbulence from the war in Ukraine and COVID lockdowns in China.

The French luxury group said revenues at constant exchange rates came in at 2.8 billion euros ($3.06 billion) in the three months to March, beating a forecast of 2.6 billion euros from UBS analyst Zuzanna Pusz, who tops a Refinitiv Eikon ranking of analysts for estimate accuracy.

($1 = 0.9162 euros)

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