Hermès Group Posts Full Year Profit Despite Currency Fluctuations:
As if anyone is at all surprised that Hermès can still manage to post a profit even in the bleakest of retail outlooks — “Revenues in Japan edged up only 3%, but rapid growth in China pushed sales up 15% in Asia. Silk and textiles had a good year with growth of 16%, a figure matched by the company’s leather bags . . . Hermès will open or renovate about 40 stores in 2008, in the US and Asia, and particularly in China. It will also open its first store in India, located in New Delhi.”
***Meanwhile, mid-range retailer Guess is on a roll, reporting record earnings for their 4th quarter with international sales numbers coming in hot hot hot. When and how did Guess become hip again? Is it because of commercials like this?:
Katie Holmes Denies Reports That She Will Design for Armani:
“OK! magazine had claimed the actress planned to roll out three collections over the next two years, the first of which would be aimed at toddlers. The ‘Katie Holmes for Armani’ range would then release a line for older children, with women’s clothing and handbags following in 2010. However, her representative swiftly moved to quash the rumours, saying: ‘She is not designing a children’s line for Giorgio Armani.’”
