0821 GMT - Richemont's watch division's worse-than-feared performance weighed on the group's overall results, Bernstein analysts write in a research note. The Swiss luxury company booked sales for the second quarter ended September of 4.81 billion euros, down 1% on year excluding currency movements. Its specialist watchmakers business posted a 19% decline in quarterly sales at constant exchange rates to 746 million euros. For its part, the core jewelry business--which accounts for the bulk of group profits--showed a resilient performance, the analysts say. The division booked quarterly sales of 3.44 billion euros, up 4% on year at constant currency. Shares are down 3.2% at 123.70 Swiss francs. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
November 08, 2024 03:22 ET (08:22 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。