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Hermes announces Q2 sales downturn Thursday, 19th July 2012
Photo credit: Hermes S/S 2012
Hermes has reported a second-quarter sales slowdown after the luxury brand was hit by economic troubles in the eurozone.
The French fashion house said sales hit EUR 814.5 million in the second quarter, with revenue in Asia rising 16.2 per cent.
Sales were up 13.4 per cent, a marked slowdown from 17.6 per cent in the first quarter.
Hermes said it expects to hit targets but currency fluctuations and the economic crisis could take its toll on profits.