Hermès shares rose as much as 4.1% to a record in early Paris trading, lifting the company’s market capitalisation to more than EUR300 billion ($421.60 billion), the fourth highest in Europe.
Hermès sales surged as wealthy shoppers snapped up its pricey handbags over the holiday season, underlining the brand’s resilience compared with luxury peers.
Sales jumped almost 18% in the fourth quarter at constant exchange rates, Hermès International said in a statement Friday. Analysts were expecting a gain of 11%. The region that includes China and the Americas both did much better than estimates.
