Hermès Q1 Sales Rise 19 Percent as Japan Leads Growth

PARIS, France — Hermès International SCA, the French maker of Birkin bags, reported a 19 percent increase in first-quarter sales, led by Japan.

Revenue rose to 1.12 billion euros ($1.2 billion), Hermès said in a statement Wednesday, matching the median of analysts’ estimates compiled by Bloomberg.

A 15 percent gain in Japan, which Hermès attributed to highly selective distribution, boosted sales against a high basis of comparison in the year-earlier period. That compensated for growth of 3.1 percent in Europe outside of France, which is about a third the pace analysts anticipated. The growth rates exclude currency swings.

“Despite the economic, geopolitical and monetary uncertainties around the world, the objective for revenue growth in the middle term at constant exchange rates is about 8 percent,” Hermes said, repeating an earlier forecast.

The stock has gained 32 percent in the past year, giving the Paris-based maker of $3,400 printed dresses a market value of 35 billion euros.

By Andrew Robert; editors: Matthew Boyle, Thomas Mulier, Phil Serafino.