×
1 180
Fashion Jobs
FRASERS GROUP
Trainee Commercial Manager
Permanent · SHIREBROOK
FOREO
Key Account Manager
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - John Lewis Edinburgh - 26 Hours - Part Time, Permanent
Permanent · Edinburgh
BEARA BEARA
Marketing Executive (Taiwanese)
Permanent · LONDON
BRANDLAB 360 - HULA
Hula by Barbara Hulanicki – Wholesale Sales Manager
Permanent · LONDON
HOMEGOODS
Loss Prevention Detective
Permanent · Countryside
TK MAXX
10933-Loss Prevention Officer Sth Ruislip
Permanent · Ruislip
TK MAXX
10933-Loss Prevention Officer Haringey
Permanent · London
ESTÉE LAUDER
Aveda Haircare Category & Marketing Planning Manager
Permanent · London
ESTÉE LAUDER
Mac - Area Sales And Education Manager - London - Maternity Cover
Permanent · London
RALPH LAUREN
Operations Manager - Gretna
Permanent · Gretna
LUXURY RECRUIT
Head of Digital - Luxury
Permanent · LONDON
LUXURY RECRUIT
Brand Director - Luxury
Permanent · LONDON
LEVI'S
Mobile App Trading & Operations Manager
Permanent · London
BLACK PR
Sales Account Manager
Permanent · LONDON BOROUGH OF HACKNEY
ESTÉE LAUDER
Clinique - Consultant - Boots, Inverness - 18 Hours - Part Time, Permanent
Permanent · Inverness
RELY RECRUITMENT
Head of Finance / Finance Manager
Permanent · LONDON
LEVI'S
Performance Marketing Manager
Permanent · London
ESTÉE LAUDER
la Mer - Business Manager - Bentalls, Kingston - 22.5 Hours / 4 Days - Part Time, Permanent
Permanent · Kingston upon Thames
SHISEIDO
Ecommerce Manager - Nars, Shiseido & Drunk Elephant
Permanent · London
VANS
Account Coordinator - Dutch Speaking - Vans
Permanent · NOTTINGHAM
ESTÉE LAUDER
The Estée Lauder Companies - CRM And Loyalty Manager
Permanent · London
By
AFP
Published
Jul 30, 2020
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Hermès first-half results hit by pandemic, sales picking up

By
AFP
Published
Jul 30, 2020

French luxury group Hermes said Thursday the coronavirus pandemic hit profits in the first half of the year but expressed confidence about the future as business began picking up in June.


Hermes - Fall-Winter2020 - Menswear - Paris - © PixelFormula



Net profits plunged 55 percent to 335 million euros ($394 million) while its operational profitability fell to 21.5 percent of revenue against 34.8 percent a year earlier, a statement said.

Sales stood 2.48 billion euros, in line with the analyst consensus forecasts by compiled by Factset and Bloomberg .

"This unprecedented crisis, which began at the start of the year and is still ongoing, allows us to test our business model's strength," Hermes Executive Chairman Axel Dumas said.

"We have to weather the storm but we are well equipped," he added.

Dumas said Hermes had "preserved jobs and maintained the basic salaries of its employees worldwide without having recourse to the exceptional governmental subsidies provided in various countries.

"The loyal clients, desirable collections, agile omnichannel network and independence of the group are the pillars that give us confidence in the future and will support our recovery."

Hermes said sales had picked up from June and that it was able to reopen all its outlets in China -- a major market where the COVID-19 pandemic began -- in March, adding that there was "strong growth".

The group said it was financially solid and had enough cash reserves, adding that the mid-term aim was to see turnover rise progressively at ambitious targets.

 

Copyright © 2022 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.