Reported about 1 month ago
Hermès has reported better-than-expected sales, with its stock surging 23% this year and market capitalization surpassing 300 billion euros. The luxury brand's fourth-quarter sales rose almost 18% to 3.96 billion euros, showcasing resilience amid a troubled luxury market, especially in contrast to competitors like Kering. Despite LVMH's larger market cap of 358 billion euros, Hermès is narrowing the gap with strong growth in its unique business model.
Source: YAHOO