By Pierre Bertrand

Hermes International said Friday that earnings rose in the first half of the year, helped by the rebound of wholesale and in-store sales in Asia .

The French luxury fashion company said it made 2.23 billion euros ($2.45 billion) in profit in the first six months of the year compared with EUR1.64 billion a year prior, on sales that grew 25% at constant currency rates to EUR6.70 billion.

Its closely-watched recurring operating income grew 28% in the period to EUR2.95 billion, Hermes said.

Revenue was driven by sales increases at both in stores and in wholesale activities, supported by the rebound in travel retail, the company said.

Hermes said the strongest growth was in Asia, helped by Chinese New Year celebrations, and by momentum in Singapore, Thailand, Australia and Korea.

The company backed its medium-term goal for revenue growth at constant exchange rates.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

July 28, 2023 02:42 ET (06:42 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
Hermes (EU:RMS)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Hermes Charts.
Hermes (EU:RMS)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Hermes Charts.