Richemont Seen Helped Through Luxury Slowdown by Jewelry Brands -- Market Talk

Dow Jones01-19

1355 GMT - Richemont reported a more resilient than expected third-quarter print amid a challenging environment for peers in the luxury sector, Deutsche Bank analysts Matt Garland and Shwetha Ramachandran write. The Swiss luxury group booked a 12% increase at constant-exchange rates in jewelry sales, which reflects the underappreciated resilience of its differentiated brand offer in Cartier and Van Cleef & Arpels, the analysts say. Despite signs of overall growth slowdown, the business looks relatively well placed given its strong medium-term earnings power, Deutsche Bank says. Momentum should be positive into the challenging fourth quarter this year, the analysts say, citing comments from the company's conference call. Shares are up 0.5% at CHF116.95. (andrea.figueras@wsj.com)

(END) Dow Jones Newswires

January 19, 2024 08:55 ET (13:55 GMT)

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Despite signs of overall growth slowdown, the business looks relatively well placed given its strong medium-term earnings power, Deutsche Bank says. Momentum should be positive into the challenging fourth quarter this year, the analysts say, citing comments from the company's conference call. Shares are up 0.5% at CHF116.95. 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