Hermes flags strong rebound in China, posts record margin


Source: marketscreener.com marketscreener.com

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PARIS, July 29 (Reuters) - Sales at Birkin bag maker Hermes rose sharply in the second quarter, lifted by strong growth in Europe and the U.S., and rebounding strongly in China in June. Following lockdowns in China in April and May the French leather goods company, which is also known for its silk scarves with equestrian prints, said that sales bounced back strongly in the last month of the quarter. Luxury retailers were hit strongly by measures to restrict movement in key Chinese cities such as Shanghai and Beijing, with most reporting an over thirty percent drop in sales in...