Luxury Stocks Fall After Richemont Results Miss Expectations -- Market Talk

Dow Jones11-08

0924 GMT - European luxury stocks trade lower after Cartier owner Richemont reported results that were weaker than analysts' expected. Shares in the Swiss luxury group--which also houses brands such as Van Cleef & Arpels, Piaget and Vacheron Constantin--fall 4.1%. The company's sales and profitability for the first half of fiscal 2025 both came in below consensus forecasts due to the worse-than-expected performance of its specialist watchmakers business in Asia, Stifel analysts say in a note. Shares in Swiss peer Swatch Group fall 5%, while Gucci owner Kering drops 4.6%. Other luxury stocks, including those oof Louis Vuitton owner LVMH, Birkin bag maker Hermes and Italy's Moncler all trade more than 2% lower. (adria.calatayud@wsj.com)

(END) Dow Jones Newswires

November 08, 2024 04:24 ET (09:24 GMT)

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Shares in the Swiss luxury group--which also houses brands such ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LVMUY","symbol_name":"路易威登","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2481128491","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481128491","pubTimestamp":1731057840,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0924 GMT - European luxury stocks trade lower after Cartier owner Richemont reported results that were weaker than analysts' expected. 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