×
865
Fashion Jobs
DIESEL LONDON LTD
Keyholder
Permanent · DARTFORD
HUGO BOSS
E-Commerce Operations & Logistics Manager
Permanent · London
VF INTERNATIONAL
Senior Credit Controller - Multibrand
Permanent · CALVERTON
EASTPAK
Credit Team Leader - Eastpak
Permanent · CALVERTON
HUGO BOSS
Buyer Emea
Permanent · London
ESTÉE LAUDER
Aveda - Omni National Account & Operations Executive
Permanent · London
ESTÉE LAUDER
Demand Planner - Supply Chain
Permanent · London
ESTÉE LAUDER
Director, International Business Development (Maternity Cover)
Permanent · London
PAUL SMITH
International Sales Executive
Permanent · LONDON
EASTPAK
Sales Manager
Permanent · LONDON
NEW BALANCE
Category Merchandising Manager Emea, Running Footwear
Permanent · Warrington
CONFIDENTIEL
Warehouse Area Manager
Permanent ·
ESTÉE LAUDER
Clinique - Consultant - John Lewis, Liverpool - 26 Hours - Part Time, Permanent
Permanent · Liverpool
ESTÉE LAUDER
Clinique - Consultant - Boots-Aintree, Liverpool - 11 Hours - Part Time, Permanent
Permanent · Liverpool
ESTÉE LAUDER
Clinique - Consultant - Fenwick, Newcastle - 12 Hours - Part Time, Permanent
Permanent · Newcastle upon Tyne
ESTÉE LAUDER
Clinique - Consultant - Boots, Bishops Stortford - 7.5 Hours - Part-Time - Permanent
Permanent · Bishop's Stortford
ESTÉE LAUDER
Clinique - Consultant - Boots, st Davids Cardiff - 37.5 Hours - Full Time, Permanent
Permanent · Cardiff
ESTÉE LAUDER
Clinique - Consultant - Boots, Oracle Reading - 28 Hours - Part Time, Permanent
Permanent · Reading
ESTÉE LAUDER
Clinique - Consultant - Flannels, Sheffield Meadowhall - 22.5 Hours - Part Time, Permanent
Permanent · Sheffield
ESTÉE LAUDER
Clinique - Consultant - John Lewis, Cribbs Causeway - 37.5 Hours - Full Time, Permanent
Permanent · Bristol
ESTÉE LAUDER
Clinique - Consultant - Boots, st Davids Cardiff - 30 Hours - Full Time, Permanent
Permanent · Cardiff
ESTÉE LAUDER
Art Director
Permanent · London
By
Reuters
Published
Mar 21, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

French luxury group Hermes hikes dividend as margins reach record

By
Reuters
Published
Mar 21, 2018

French luxury goods firm Hermes , known for its $10,000-plus Birkin handbags, on Wednesday posted record margins for 2017 and said it would make an extraordinary payout to shareholders as well as hike its dividend.


Hermes - Fall-Winter2018 - Womenswear - Paris - © PixelFormula



The company joins rivals such as Louis Vuitton-owned LVMH and Gucci parent Kering in benefiting from a strong pick-up in the luxury goods market last year, as demand from Asian shoppers rebounded.

That fuelled strong sales growth at Hermes, while operating margins reached a new high of 34.6 percent, helped by high productivity at its leather goods workshops and the positive impact of currency hedges.

“It’s been a very good year, growth has been healthy and very profitable,” Hermes’ Chief Executive Axel Dumas told journalists. He added that sales trends at the start of 2018 had echoed the positive momentum of last year.

The company, also famed for its square silk scarves, said it was proposing a dividend against 2017 earnings of 4.10 euros ($5.03) per share, up 9 percent on a year earlier, and said it also planned an exceptional dividend of 5 euros per share.

Dumas said that hedging against foreign exchange swings would have a slightly negative effect on margins in 2018, however. European-based luxury goods firms are grappling with the effects of a strong euro.

Hermes, originally a saddle and harness specialist founded in 1837, in February reported slightly lower-than-expected sales for the fourth quarter of 2017, as it struggled to keep up with demand for its coveted handbags.

The firm is expanding its leather goods production capacity with new workshops in France.
It is also looking to boost online sales by gradually rolling out a new version of its website, with the revamped platform in China due by year-end.

Hermes’ operating income came in at 1.92 billion euros ($2.36 billion), up 13 percent from a year earlier and in line with analyst forecasts, while net profit expanded 11 percent to 1.22 billion euros. ($1 = 0.8149 euros)

© Thomson Reuters 2021 All rights reserved.