November 7, 2018 / 7:14 AM / 7 days ago

Hermes says China sales sound, third-quarter revenues rise

PARIS, Nov 7 (Reuters) - France’s Hermes on Wednesday said it saw no change of pace in China as the maker of deluxe Birkin handbags reported slightly better-than-expected third quarter sales.

Hermes’ revenues came in at 1.46 billion euros ($1.67 billion) in the July to September period, up 9.4 percent as reported and rising 9.7 percent from a year ago at constant currencies.

That marked a slowdown from the 11.6 percent comparable growth from a quarter earlier, due in part to weaker momentum in Hermes’ silk scarves division after a tough year-ago comparison.

But revenues were a touch ahead of some analysts’ expectations, and the company struck a bullish tone on Chinese demand amid worries of a deceleration linked to the trade war with the United States.

“We don’t see any change of pace at this stage,” CEO Axel Dumas told journalists. (Reporting by Sarah White and Pascale Denis Editing by Mathieu Rosemain)

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