Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Apple    AAPL


Delayed Quote. Delayed Nasdaq - 04/24 05:32:51 pm
207.16 USD   -0.15%
04/24Microsoft tops $1 trillion as it predicts more cloud growth
04/23FANG Stocks Are Back in Fund Managers' Favor -- WSJ
04/23LATE TO THE PARTY : Apple poised to go 5G in 2020
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Birkin bag maker Hermes says Chinese sales momentum still strong

share with twitter share with LinkedIn share with facebook
share via e-mail
02/08/2019 | 02:46am EDT
A pedestrian walks past the Hermes store in Boston

PARIS (Reuters) - French luxury handbag label Hermes said on Friday that sales momentum in its Chinese stores stayed strong in the fourth quarter, adding to reassuring signals from rivals over enduring demand in one of the industry's biggest markets.

Luxury groups rely on Chinese consumers for over a third of sales, sparking investor jitters over the potential fallout for the sector from China's slowing economic growth and the Washington-Beijing trade war.

Labels heavily exposed to markets where Chinese tourism appears to be on the wane, such as Coach owner Tapestry or jeweller Tiffany in the United States, suffered as a result.

But some of the biggest luxury goods players including LVMH's Paris-based Louis Vuitton have recently stressed that demand for their wares was if anything picking up in China.

"We are still growing strongly in Asia, we did not see any change in momentum in our stores in China," Hermes Chief Executive Axel Dumas told journalists on Friday, after the group posted a 9.6 percent rise in fourth quarter sales at constant exchange rates, unchanged from three months earlier.

Sales in Asia Pacific, excluding Japan, were up 13.1 percent at constant currencies, picking up from 11.7 percent growth in the third quarter.

Fourth quarter revenues rose 10.1 percent on a reported basis to 1.7 billion euros ($1.93 billion).

Hermes, which launched its e-commerce site in China at the end of last year, will roll out its online business to other Asian countries, Dumas added, without detailing where.

The French label, whose $10,000-plus Birkin bags are famed for drawing waiting lists, said it expected its operating margin to be close to 34 percent for 2018, potentially dipping from the 34.6 percent record reached in 2017.

Its full results will be released on March 20.

Dumas said that anti-government "yellow vest" protests in France late last year had weighed on some of the business it usually does with tourists in Paris, but added that spending had shifted to its stores elsewhere, including in Italy and Britain.

Luxury boutiques closed their doors on several successive Saturdays after the protests descended into riots in early December, and many visitors to France cancelled hotel bookings.

Hermes, originally a saddle specialist, is still adding to its production sites. It said this week it would build a 17th French leather goods workshop, in Normandy, in 2021.

(Reporting by Sarah White and Pascale Denis, Editing by Leigh Thomas/Keith Weir)

Stocks mentioned in the article
ChangeLast1st jan.
APPLE -0.15% 207.16 Delayed Quote.31.33%
HERMÈS INTERNATIONAL -0.68% 615.2 Real-time Quote.27.68%
LVMH MOËT HENNESSY VUITTON SE -0.66% 344.9 Real-time Quote.35.92%
TAPESTRY INC 2.24% 31.53 Delayed Quote.-6.58%
TIFFANY & CO. -0.92% 106.75 Delayed Quote.33.82%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on APPLE
04/24Microsoft tops $1 trillion as it predicts more cloud growth
04/24APPLE : Are you looking at a phone more than someone's eyes?
04/24APPLE : might let third parties use more iPhone NFC functionality
04/24APPLE : has quietly launched an official Apple TV YouTube channel
04/24APPLE WWDC 2019 : date and keynote predictions
04/23APPLE : Sensible Settlement In The Patent World
04/23FANG Stocks Are Back in Fund Managers' Favor -- WSJ
04/23LATE TO THE PARTY : Apple poised to go 5G in 2020
04/22LEAD PLAINTIFF DEADLINE ALERT : Faruqi & Faruqi, LLP Encourages Investors Who Su..
04/22J C PENNEY : JCPenney shelves Apple Pay after April EMV deadline passes
More news
Financials ($)
Sales 2019 255 B
EBIT 2019 62 614 M
Net income 2019 52 893 M
Finance 2019 101 B
Yield 2019 1,48%
P/E ratio 2019 18,25
P/E ratio 2020 16,22
EV / Sales 2019 3,44x
EV / Sales 2020 3,37x
Capitalization 978 B
Duration : Period :
Apple Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends APPLE
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 39
Average target price 198 $
Spread / Average Target -4,5%
EPS Revisions
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson Chairman
Jeffrey E. Williams Chief Operating Officer
Luca Maestri Chief Financial Officer & Senior Vice President
Kevin M. Lynch Vice President-Technology
Sector and Competitors
1st jan.Capitalization (M$)
APPLE31.33%978 326
XIAOMI CORP--.--%40 644
MEITU INC--.--%1 658
DORO AB7.17%94
DIGIA OYJ2.81%88