Hermes sales rise 15.6%, defying luxury downturn as U.S. posts strong growth

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Sales for the three months to the end of September stood at 3.37 billion euros ($3.60 billion), a 15.6% rise at constant exchange rates, beating a Visible Alpha consensus for 14% growth, with brisk sales in all regions, particularly in the United States.

Analysts have lowered their estimates for the luxury sector in recent weeks, following a sales report from bellwether LVMH earlier this month showing shoppers are splurging less on high end fashion as inflation and economic uncertainty rise.

But Hermes, which caters to shoppers who can afford handbags like the coveted $10,000 plus Birkin model, has a reputation of weathering economic turbulence better than rivals.

($1 = 0.9368 euros)