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Oct. 22, 2020, 2:37 a.m. EDT

Hermes revenue rebounds thanks to Asia growth

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By Joshua Kirby

Hermes International SCA said Thursday that revenue returned to growth in the third quarter, driven by in-store performance and strong sales growth in Asia.

Revenue for the period grew 6.9% at constant exchange rates to 1.80 billion euros ($2.14 billion) from the same period the previous year, the French luxury-goods company said.

Sales in stores were up 12%, while Asia sales grew 29% on the year. Online sales were notably strong in the region, the company said.

Hermes, best known for its leather bags, said the impact of the coronavirus pandemic on full-year results remained difficult to assess, but confirmed its "ambitious" medium-term goal for revenue growth at constant exchange rates.

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