Richemont's Watch Business Weighs Heavily on Results -- Market Talk

Dow Jones11-08

0821 GMT - Richemont's watch division's worse-than-feared performance weighed on the group's overall results, Bernstein analysts write in a research note. The Swiss luxury company booked sales for the second quarter ended September of 4.81 billion euros, down 1% on year excluding currency movements. Its specialist watchmakers business posted a 19% decline in quarterly sales at constant exchange rates to 746 million euros. For its part, the core jewelry business--which accounts for the bulk of group profits--showed a resilient performance, the analysts say. The division booked quarterly sales of 3.44 billion euros, up 4% on year at constant currency. Shares are down 3.2% at 123.70 Swiss francs. (andrea.figueras@wsj.com)

(END) Dow Jones Newswires

November 08, 2024 03:22 ET (08:22 GMT)

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The Swiss luxury company booked sales for the...</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":"CFRUY","symbol_name":"历峯集团","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2481141401","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481141401","pubTimestamp":1731054120,"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":"0821 GMT - Richemont's watch division's worse-than-feared performance weighed on the group's overall results, Bernstein analysts write in a research note. 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