0924 GMT - European luxury stocks trade lower after Cartier owner Richemont reported results that were weaker than analysts' expected. Shares in the Swiss luxury group--which also houses brands such as Van Cleef & Arpels, Piaget and Vacheron Constantin--fall 4.1%. The company's sales and profitability for the first half of fiscal 2025 both came in below consensus forecasts due to the worse-than-expected performance of its specialist watchmakers business in Asia, Stifel analysts say in a note. Shares in Swiss peer Swatch Group fall 5%, while Gucci owner Kering drops 4.6%. Other luxury stocks, including those oof Louis Vuitton owner LVMH, Birkin bag maker Hermes and Italy's Moncler all trade more than 2% lower. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
November 08, 2024 04:24 ET (09:24 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。