April 23, 2020 / 6:17 AM / a month ago

BRIEF-Hermes Q1 Sales Down At EUR 1.51 Billion

April 23 (Reuters) - Hermes International SCA:

* ON COVID-19: FOR 2020, THE IMPACTS OF THE COVID-19 EPIDEMIC ARE CURRENTLY DIFFICULT TO ASSESS

* Q1 SALES EUR 1.51 BILLION, DOWN 6.5% AT CURRENT EXCHANGE RATES AND DOWN 7.7% AT CONSTANT EXCHANGE RATES

* ON COVID-19: MAINTAINED ITS STRATEGIC INVESTMENTS, BOTH IN PRODUCTION CAPACITIES AND THE DISTRIBUTION NETWORK

* Q1 SALES AT CONSTANT CURRENCIES IN LEATHER GOODS DIVISION -6.0%, -19.2% IN SILK DIVISION

* ON COVID-19: WE HAVE BEEN PARTIALLY AND GRADUALLY RESUMING OPERATIONS IN THE PRODUCTION AND LOGISTICS SITES SINCE 14 APRIL

* IN THE MEDIUM TERM, CONFIRMS GOAL FOR REVENUE GROWTH AT CONSTANT EXCHANGE RATES

* Q1 SALES AT CONSTANT CURRENCIES IN ASIA EXCLUDING. JAPAN -9.0%, -11.0% IN EUROPE, -6.3% IN AMERICAS

* SALES IN Q2 WILL BE SIGNIFICANTLY IMPACTED BY THE CLOSURES OF A SIGNIFICANT PART OF THE NETWORK

* CO IS PURSUING ITS LONG-TERM DEVELOPMENT STRATEGY Source text for Eikon: See also: Further company coverage: (Gdansk Newsroom)

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