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PARIS - Reflecting an unfavorable currency environment and a sluggish Japan, first-quarter sales at Herms International rose a weaker than expected 1.3 percent, to 366.1 million euros, or $479.7 million, from 361.5 million euros, or $434.7 million. Stripping out the impact of currency, the increase stood at 6.5 percent.
Business remained robust for the French luxury firm in most regions; sales at constant exchange were up 10.8 percent in Asia-Pacific, 9.8 percent in Europe and 9.2 percent in the Americas.
But a weak yen and feeble demand in Japan led to an 11 percent drop in reported sales there, to 89.7 million euros, or $117.5 million, from 100.8 million euros, or $121.2 million. At constant exchange, Japanese sales dipped 1.2 percent.
"Our business is booming all over the world, except with the Japanese,"...