Cartier owner Richemont posts 10% increase in Q3 sales
ZURICH (Reuters) - Cartier jewellery owner Richemont on Thursday reported a 10% increase in constant currency sales during the three months to the end of December, a strong early indicator for the performance of European luxury companies over the all-important holiday season.
Sales at actual rates increased to 6.2 billion euros ($6.37 billion), said the company, which also owns high-end Swiss watch brands Piaget, IWC and Jaeger-LeCoultre.
At constant exchange rates - which removes the impact of currency fluctuations - sales increased by 10%. This was much better than 1% increase expected by analysts in a consensus cited by RBC.
($1 = 0.9727 euros)
(Reporting by John Revill, Editing by Friederike Heine)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Most Discussed
No relevant data is available