Richemont Set to Benefit From Exposure to U.S., Europe -- Market Talk

Dow Jones12-09

1330 GMT - Richemont will likely be one of the few luxury names to report positive growth in the upcoming earnings season, thanks to better momentum in Europe and the U.S., Barclays analysts write in a note. The Swiss luxury group will publish a trading update for its fiscal third quarter on Jan. 16. The analysts expect it to book sales of 5.67 billion euros, representing organic growth of 1% on year, which includes 5% growth at the group's core jewelry business. Trends don't seem to have deteriorated further, which is an encouraging sign, they add. The U.S. market could experience a small acceleration now that the uncertainty around the elections is over, Barclays says, adding that regions like Europe and the Middle East should remain positive. Shares are up 2.8% at 135 Swiss francs. (andrea.figueras@wsj.com)

(END) Dow Jones Newswires

December 09, 2024 08:30 ET (13:30 GMT)

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