Cartier-Owner Richemont's Sales Beat Boosts Luxury Sector as Jewellery Shines
Jewellery sales rose 24% as the luxury group topped analyst forecasts and shares were indicated nearly 8% higher.
- On Wednesday, Cartier-owner Richemont reported first-quarter sales of €6.33 billion , a 20% increase that exceeded the €5.90 billion consensus forecast.
- Growth was driven by the company's jewellery business, which includes Van Cleef & Arpels, Buccellati, and Vhernier, where sales jumped 24%—significantly outperforming the 11.5% rate expected by analysts.
- Regional performance accelerated across key markets: the Americas rose 27%, Asia/Pacific including China increased 21%, Europe grew 11%, and the Middle East returned to growth despite Iran conflict disruptions.
- Following the results, Richemont shares rose nearly 8% in premarket trading on the Swiss exchange, buoyed by wealth among high earners in the U.S. tech sector and rising stock markets.
- Bernstein analyst Luca Solca said, "This set of results smashes consensus," while specialist watchmakers Piaget and IWC boosted performance with an 8% sales increase during the quarter.
28 Articles
28 Articles
Cartier-Parent Richemont Ices Out Rivals
Van Cleef’s signature four-leaf clovers are clearly bringing some luck to parent company Richemont. The Swiss group defied the wider luxury industry Wednesday when it reported a 20% surge in sales for the three months through June. Richemont notched the seventh straight quarter of double-digit growth in its jewelry segment, where Van Cleef & Arpels necklaces and Cartier bracelets boosted sales 24%. Analysts had expected a less sturdy surge of ne…
The Economic Times
Times of IndiaCartier-owner Richemont's sales beat boosts luxury sector as jewellery shines
The latest sales report from Richemont reveals a strong performance, outpacing forecasts with a twenty percent rise in sales in constant currencies. This growth was primarily driven by an unexpected spike in jewelry sales, significantly enhancing the company's overall results. Notably, both the Asian and American markets showed robust growth, helping elevate other luxury company stocks in the market as well.
The CAC 40 rose 0.19%, gaining 15.58 points to close at 8,382.43. The previous day, the benchmark Parisian index had finished virtually unchanged (+0.03%). The luxury sector, which has significant weighting on the Paris stock exchange, benefited from strong results from the Swiss group Richemont, which on Wednesday reported quarterly sales that were much better than expected, driven by its jewelry business. Following this, Kering shares climbed …
The Geneva watch and jewelry manufacturer Richemont seduces even dry analysts to euphoria. Cartier and Van Cleef & Arpels are doing particularly well.
Strong Jewelry Segment Boosts Richemont Sales in First Quarter
Revenue at Richemont’s jewelry division improved in the first fiscal quarter, as the group recorded growth in all regions. Sales at Cartier, Van Cleef & Arpels, Buccellati, and Vhernier rose 21% year on year to EUR 4.73 billion ($5.4 billion) – up 24% at constant exchange rates – for the three months that ended June 30, the Swiss luxury group reported Wednesday. This marks the seventh successive quarter of double-digit growth, it added. Overall,…
Coverage Details
Bias Distribution
- 62% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
