Q4 and FY 2024 - Hermès Int'l

Crushing sales expectations in Q4 - CFO downplays near-term margin expansion expectations

Today, Hermès International released its full-year results, showing why it has its own league. Sales accelerated sequentially with +18% at constant FX, driven by the Americas and growth in all Asian countries. At the time of writing, the stock’s up 1.1%, after being up >4% and down .2% at one point. Let’s take a closer look at the report, and share our take on forward returns.