Rapala VMC, a leading fishing tackle company, experienced growth in the first half of 2024 as the retail market improved. Despite the termination of some third-party product distribution deals, the company saw a solid improvement in sales. Net sales increased 2 percent to €120.5 million, with reported currency euro terms. The largest sales increase came from the successful launch of CrushCity soft plastic lures. Sales grew in almost all open water consumables categories, except for hard baits. Sales in North America increased 5 percent, while sales in the Nordic market increased by 1 percent. Sales in the rest of Europe increased by 2 percent. Sales in the Rest of the World market decreased by 10 percent. The company reported an improved profitability and efficiency, with a comparable operating profit margin of 5.1 percent. The Group expects full-year comparable operating profit to increase from 2023.
Paris-based luxury brand Hermes reported double-digit sales growth in the second quarter, defying the luxury downturn. Sales grew 13.3% at constant exchange rates, reaching €3.7 billion. Sales in all regions outside of Asia posted double-digit growth, while sales in Asia outside Japan remained resilient compared to industry peers [d912185b].