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Hermes Reports December Sales Rise Strongly

PARIS -- Hermes International scored a provisional 20 percent increase in consolidated sales in December, compared with December 1992, and Hermes store sales for the month jumped 18 percent.<BR><BR>Exact figures will not be disclosed until March,...

PARIS — Hermes International scored a provisional 20 percent increase in consolidated sales in December, compared with December 1992, and Hermes store sales for the month jumped 18 percent.

Exact figures will not be disclosed until March, Hermes said.

“Our clients stayed faithful,” said Patrick Thomas, Hermes International’s managing director. “They were very eager for our goods for Christmas in France, and around the world.”

As a result of the Christmas boom, the company now expects 1993 profits to be about $33.9 million (200 million francs at current exchange rates), up 13.5 percent.

Consolidated sales should be roughly $474.6 million (2.8 billion francs), a rise of 15 percent — or 11 percent at constant exchange rates — over 1992.

The results exceed projections the company made last May just before it floated its first public stock offering.

At a meeting with Paris stock analysts then, Hermes projected 1993 profits would increase 7 percent from 1992 to $29.6 million (175 million francs) on a 6 percent sales increase to $440.7 million (2.6 billion francs).

“We had been very careful with our predictions, given that we had very weak growth in 1991 and 1992,” Thomas explained. “The last three months were much better than we expected.”