0744 GMT - Richemont's strong revenue beat across all regions, channels and divisions should support its shares and the broader luxury sector, Citi analysts Thomas Chauvet and Mahesh Mohankumar write in a note. The Swiss luxury group booked sales of 6.15 billion euros for its fiscal third quarter ended Dec. 31, up 10% compared with the year-earlier period and ahead of consensus estimates. "We see Richemont as a fundamentally stronger business than during prior industry downturns," they say. Citi expects a strong share price reaction for both the company and the industry. Shares in Richemont closed at 139.05 Swiss francs on Wednesday. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
January 16, 2025 02:44 ET (07:44 GMT)
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