French luxury handbag maker Hermes International reported full-year earnings that surpassed analysts' estimates, mostly due to sales of leather goods and demand in Japan. Operating profit rose 19% to €1.54 billion on an adjusted basis, Paris-based Hermes said in a statement, when analysts predicted €1.52 billion, based on the average of 16 estimates. Hermes is benefitting from two new production sites in France, which are boosting the supply of handbags and other leather goods. Earnings were also elevated from sales in Japan, which is seeing an influx of Chinese tourists.
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