Tuesday, July 19, 2011

News Seeder 456: HRMS

News Seeder 456: HRMS
HRMSQ2 sales rise 22 pct at constant exchange rates * Growth driven by China, United States * FY revenue to grow 12-14 pct vs previous 8-10 pct forecast * Hermes shares trading near record high (Adds analyst comments, share price, CEO comment) By James Regan and Pascale Denis PARIS, July 19 (Reuters) - Hermes raised its 2011 revenue forecast on growing demand for its scarves, accessories and leather bags, in a reminder of its allure for rival LVMH , whose advances Hermes is trying to fend off. Majority family owned Hermes has sought to defend itself from the threat of a takeover by LVMH, the world's largest luxury group, which has built up a 20 percent stake. Speculation that Bernard Arnault

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