Hermès had a booming increase of 26 percent in its own stores during the first quarter ended March 31, with growth in all sectors. Overall, sales grew by 18.5 percent to €507.7 million, an increase of 20.2 percent on a currency-neutral basis. Wholesale revenues climbed by just 4 percent at constant exchange rates.
France alone saw sales rise by 14.5 percent to €90.9 million, while the rest of Europe grew by 15.9 percent to €95.1 million, an increase of 15.1 percent on a currency-neutral basis. The Americas region had a turnover increase of 19.9 percent to €77.5 million (25.2 percent at constant currencies) as the rebound from the recession continued. The new Hermès men's store in New York City contributed to the growth. Asian sales outside Japan jumped by 44.8 percent to €143.9 million (46.6 percent), but Japanese revenues fell by 4.6 percent to €91.7 million, a drop of 1.8 percent in constant currencies.
The ready-to-wear and fashion accessories segment saw an increase of 16.8 percent to €103.2 million, a rise of 18.9 percent at constant currencies.
The company warned that the good results of the first quarter probably won't apply to the whole year, as the comparison period from 2009 was particularly weak. It plans to continue expanding this year, including opening and renovating 20 stores, including a new store on the rue de Sèvres in Paris.