Overview
- Group sales rose 11% at constant exchange to €6.4 billion in the fiscal third quarter, beating consensus estimates of roughly 7.5% to 8%.
- Jewellery led the performance with a 14% increase to €4.79 billion, while specialist watchmakers grew 7%, marking a second straight positive quarter.
- All regions advanced at constant rates, including Middle East and Africa +20%, Japan +17%, Americas +14%, Europe +8%, and Asia-Pacific +6% despite a 2% decline there at actual rates.
- Shares gained as much as 3% in Zurich as analysts highlighted Richemont’s brand strength and pricing power, even as margins and free cash flow remain under pressure.
- The company reported €7.6 billion in net cash, and analysts cited tourism flows and heightened Cartier visibility from celebrity influence as supportive demand drivers.