1257 GMT - Richemont's quarterly results beat expectations across the board, but it might be risky to extrapolate the implications of this performance to other luxury categories, UBS analysts say in a note. The Swiss luxury group benefited in particular from strength at its jewelry division that houses brands like Cartier and Van Cleef & Arpels, the analysts say. However, trends at Richemont's specialist watchmakers division improved as well, according to UBS. "The whole sector should react positively today but we note that the implications to other categories, especially leather goods, may be risky to extrapolate," the analysts say. Richemont shares jump 16%, and the company's results lift shares in other luxury groups like LVMH, Kering, Moncler and Swatch, all of which climb 7% or more. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
January 16, 2025 07:57 ET (12:57 GMT)
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