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Hermès Swings to Revenue Growth on Currency Gains
(Source: LuxuryBrandNetwork.com)
Hermès sales for the first quarter of 2009 slipped 4.7% at constant exchange rates. But currency movements, notably the positive appreciation of Japanese Yen against the Euro, lifted sales by €33 million and swung the comparison to the prior year to +3.2%. . . . keep reading
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Burberry Retail Revenue Rises
(Source: LuxuryBrandNetwork.com)
For the quarter ended 31 March 2009, Burberry produced a 14.4% revenue increase including the impact of favorable currency exchange according to analysis by LuxuryBrandNetwork.com. For the most recent six months, comparable revenue rose 2%, or 21% as reported. The company benefitted from strong currency gains, though continued discounting lowered gross margins below expectations. . . . keep reading
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