Hermes raises 2010 forecast on accelerated Q2 sales

07/20/2010 | Bloomberg

Hermes International said its full-year revenue will rise by as much as 12% after demand in Asia helped second-quarter sales surge. In March, the French maker of silk scarves and luxury handbags predicted revenue would increase by at least 5%. "The second quarter was quite significantly better than I had expected," said Dennis Weber, an analyst at Evolution Securities. "The surprise was driven by a better-than-expected performance in Hermes's own store network, which showed underlying growth of 20%."

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