Cartier-owner Richemont says China sales tumble 27%

Cartier-owner Richemont says China sales tumble 27%

Cartier-owner Richemont said Tuesday its quarterly sales in China tumbled by 27 percent as the deepening economic malaise in the world's second-largest economy lashes luxury firms. The Swiss luxury group said overall sales dipped one percent to 5.27 billion euros ($5.74 billion) in its first quarter that ended June 30,…