|Day Low/High||50.60 / 50.78|
|52 Wk Low/High||38.99 / 54.07|
It pays to be in fashion, or so it seems.
Hermes International traded higher Thursday after a strong set of first-quarter earnings that added to the gaining momentum of the luxury sector that has seen many houses report double-digit growth.
Shoppers have been snapping up accessories, especially leather goods, boosting the earnings of many luxury houses.
The maker of Fendi fashions and Hennessy cognac posted posted a 15% increase in first-quarter sales easily beating analyst expectations.
Hermes International said Wednesday that its last fiscal year was "exceptional" even as the luxury goods sector struggled from slower sales in Europe and China.
Tiffany is looking even better after luxury company Richemont reported a sizable sales increase for the Christmas season.
Industry data shows export value of Swiss watches falling 10.4% so far in 2016 as the Apple Watch challenges 'spring and cog' time pieces.
A strengthening Chinese economy has led to a return of strong demand for luxury goods in the country.
Kering, LVMH and Hermes could benefit from accelerated sales if Chinese growth stays on course.
More insight on the impact of Brexit will come with the Bank of England's inflation report, which will likely be accompanied by news of status quo on rates.
Apple Watch is likely to pose a threat, especially to some Swatch lines, UBS analysts say.
German Dax leads the board with 0.4% gain.
The luxury goods maker had warned in July that full-year revenue growth could lag that target.
U.S. futures are steady, pointing to a positive opening.
The fashion house aims to boost online sales as it fine-tunes its retail network.
More investors think luxury retailer is undervalued, Credit Suisse analysts say.
The animal rights activists are also activist shareholders in Groupon, Lululemon, Whole Foods and other companies that might surprise you.
North America powers ahead, while leather-goods sales climb more than expected.
Central bankers meet in Frankfurt for the first time since the Brexit referendum, while EU foreign ministers hold their first meeting since Boris Johnson was named British Foreign Secretary.
European stocks are mixed on Tuesday with Italian indices erasing early gains.
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