Lower Swiss Watch Exports to China Come as No Surprise -- Market Talk

0957 GMT - The decline in exports of Swiss watches to China doesn't surprise, given recent trading updates from Swatch Group and Richemont, Citi analysts Thomas Chauvet and Lorenzo Bracco write in a

WSJJul 18 05:57 ET

Richemont's Fiscal First-Quarter Sales Flat as Asia Pacific Demand Slumps

Compagnie Financiere Richemont (CFR.SW, CFR.JO) on Tuesday posted its fiscal first quarter sales report, which was little changed and showed weaker performance in the Asia-Pacific region.For the

MT NewswiresJul 16 06:41 ET

Richemont's Key Business Should Offer Some Relief -- Market Talk

0653 GMT - The performance of Richemont's core division Jewelry Maisons should offer some relief, particularly in a challenged luxury sector, RBC Capital Markets analyst Piral Dadhania writes in a

WSJJul 16 02:53 ET

In the second quarter, sales of Lifeng Group only increased by 1% year-on-year.

The parent company of Cartier, luxury goods giant Richemont, stated on Tuesday that sales increased by 1% when calculated at fixed exchange rates for the three months ending in June, despite a 1% drop in sales when calculated at current exchange rates. According to a statement released by the company, "Calculated at a fixed exchange rate, quarterly sales up to June 30, 2024 grew by 1% to reach 5.3 billion euros (approximately $5.77 billion), compared with a growth of 19% in the same period last year. This indicates the resilience of the group amidst the continuous uncertain macroeconomic and geopolitical environment." These figures were released prior to the publication of Europe's luxury goods.

環球市場播報Jul 16 02:04 ET

Richemont: Sales Declined in China, Reflecting Low Level of Consumer Confidence

Richemont: Sales Declined in China, Reflecting Low Level of Consumer

Dow JonesJul 16 01:35 ET

Richemont: All Regions Delivered Growth Except for Asia Pacific

Richemont: All Regions Delivered Growth Except for Asia

Dow JonesJul 16 01:34 ET