Richemont Posted Strong U.S. Business Despite Election-Volatility, CFO Says -- Market Talk

Dow Jones11-08

1141 GMT - Richemont had a consistent performance in the U.S. during the first two quarters of its fiscal year 2025, despite the typical volatile environment around elections, Chief Financial Officer Burkhart Grund says in an earnings call. "We usually have volatility in our business in the run-up to the U.S. elections and that has not really happened this time around," Grund says. The CFO adds that he doesn't expect a significant acceleration in the upcoming Christmas period, when it usually has a strong business performance. Richemont's Chief Executive Nicolas Bos declines to comment on potential implementation of higher tariffs by the Trump administration on goods imported to the U.S. "It would be speculative at this stage. We will wait and see," the CEO adds. Shares are down 5.5% at 120.75 Swiss francs. (andrea.figueras@wsj.com)

(END) Dow Jones Newswires

November 08, 2024 06:42 ET (11:42 GMT)

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The CFO adds that he doesn't expect a significant acceleration in the upcoming Christmas period, when it usually has a strong business performance. Richemont's Chief Executive Nicolas Bos declines to comment on potential implementation of higher tariffs by the Trump administration on goods imported to the U.S. \"It would be speculative at this stage. We will wait and see,\" the CEO adds. Shares are down 5.5% at 120.75 Swiss francs. 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The CFO adds that he doesn't expect a significant acceleration in the upcoming Christmas period, when it usually has a strong business performance. Richemont's Chief Executive Nicolas Bos declines to comment on potential implementation of higher tariffs by the Trump administration on goods imported to the U.S. \"It would be speculative at this stage. We will wait and see,\" the CEO adds. Shares are down 5.5% at 120.75 Swiss francs. 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