World Footwear


Hermes abandons mid-term revenue target

Sep 15, 2016 France
 Hermes abandons mid-term revenue target
One of the world’s most luxurious fashion brands has announced it won’t continue to forecast annual revenue growth due to persistent political and monetary uncertainty
French-based luxury giant Hermes has stated it will no longer set mid-term annual sales growth targets. The group will immediately abandon its 8% annual growth forecast.

Axel Dumas, Chief Executive, claimed the need to be frank and transparent in a world full of uncertainty where the rigidity of written guidance could mean that companies are less flexible.

Hermes reported first half consolidated net income up by 13%, reaching 545 million euros and representing 22.3% of sales.

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