Tag: $Richemont

Cartier-owner Richemont reported quarterly sales well ahead of market expectations on Friday, driven by improved demand in China and a robust North American market which helped it weather the hit from U.S. tariffs and high gold prices.

Richemont SA posted a rise in full-year sales as the continued popularity of its Cartier brand allowed the Swiss group to be more resilient than rivals in a softening luxury-goods market. 

Cartier owner Richemont reported better-than-expected quarterly sales, triggering a rally in luxury stocks, after its core jewelry division bucked a downturn in demand for high-end goods.

Shares of Swiss luxury group Richemont climbed as much as 6.3% Friday after the company reported record full-year sales, even as Asia-Pacific spending waned.

 Cartier owner Richemont , opens new tab enjoyed a surge in sales in China in its latest quarter, signalling on Thursday the resilience of the high end of the luxury market and sending shares of the Swiss watch and jewellery maker sharply higher.

ZURICH, Nov 10 (Reuters) – Luxury group Richemont (CFR.S) cautioned on Friday that economic worries and global tensions were weighing on consumer spending as the owner of Cartier jewellery reported first-half profits that missed forecasts, sending its shares down 6%.

Richemont posted a 19% rise in organic sales which exclude the impact of currency movements while analysts expected 20%, Bernstein analyst Luca Solca noted.