By  on January 6, 2009

PARIS — With a worsening outlook for luxury, Deutsche Bank has cut its earnings forecasts on Hermès International by 10 percent and projects slim fourth-quarter sales growth of 7.5 percent, or 0.7 percent in organic terms.

“Worsening luxury news flow, in particular from the U.S., suggests to us that Hermès will see a rapid slowdown in growth rates,” analyst Warwick Okines wrote in a report released Monday.

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