Hermes sales rose as the Birkin bag maker met resilient demand for its pricey handbags, bucking the broader luxury market slump that’s dragged down peers like Gucci-owner Kering SA.
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On Monday, Evercore ISI updated its outlook on Federated Hermes Inc. (NYSE:FHI), raising the price target to $41.00 from the previous $38.00 while maintaining an Outperform rating on the shares.
BIRKIN bag maker Hermes reported on Thursday (Oct 24) an 11.3 per cent rise in third-quarter sales, continuing to outshine rivals hit hard by a downturn in China as its luxury handbags lure wealthy ...