Hermes says 2015 sales growth slows, may dip again in 2016

(Adds details, share price, industry comparisons)

By Astrid Wendlandt

PARIS, Feb 10 (Reuters) - Hermes posted an 8.1 percent rise in full-year sales at constant exchange rates on Wednesday, one of the highest growth levels in the luxury goods industry but marking a clear slowdown from 2014.

The French luxury brand added that 2016 sales growth could be below its medium-term target of 8 percent because of global economic and geopolitical uncertainty. Shares (Berlin: DI6.BE - news) in the company were down more than 4 percent in early trading.

Hermes, known for its colourful silk scarves, and Kelly and Birkin leather handbags, said sales reached 4.84 billion euros ($5.46 billion) last year, broadly in line with forecasts, with growth slowing from 11.1 percent in 2014.

Fourth-quarter revenue rose 7.2 percent, down from 9 percent growth in the third but showing resilience after the November terrorist attacks scared tourists and shoppers away from Paris and big European capitals, leading to sharp drops in sales among some rivals.

Leather goods revenue rose 14.3 percent in the last three months of the year, while fashion and ready-to-wear sales grew 3.7 percent, Hermes said.

The fashion and leather division of the world's biggest luxury group, LVMH, last week beat expectations with a 3 percent like-for-like fourth-quarter revenue rise. Burberry's like-for-like sales remained flat, however, and Richemont's revenue fell 4 percent, hit by weak demand in Hong Kong.

Hermes said its silk and textiles sales fell 7.2 percent in the fourth quarter. The division was "hit by the year-end events in France, and suffered from slowing sales in Greater China but continued to develop in the other regions".

The company, which publishes full-year results in March, added that it expected its operating margin for 2015 to be close to the 31.5 percent achieved in 2014. ($1 = 0.8864 euros) (Editing by James Regan)