Richemont Q3 sales rise 11% at constant rates on strength across all regions

Overview

• Luxury goods firm's Q3 sales rose 11% at constant exchange rates, reaching €6.4 bln

• Jewellery Maisons sales grew 14% at constant rates, leading overall growth

• Company maintained robust net cash position at €7.6 bln

Outlook

• Company continues investment to support growth amid challenging macroeconomic conditions

• Richemont did not provide specific guidance for future quarters or full year

Result Drivers

• JEWELLERY MAISON SALES - Sales in Jewellery Maisons rose 14% at constant rates, driven by strong performances across all regions and channels

• REGIONAL GROWTH - Double-digit sales growth in Americas, Japan, and Middle East & Africa contributed significantly to overall performance

• RETAIL CHANNEL - Retail sales grew 12% at constant rates, leading the growth across all distribution channels

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 18 "strong buy" or "buy", 10 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the apparel & accessories peer group is "buy"

• Wall Street's median 12-month price target for Compagnie Financiere Richemont SA is CHF190.00, about 8.7% above its January 14 closing price of CHF174.80

• The stock recently traded at 27 times the next 12-month earnings vs. a P/E of 25 three months ago

Press Release: ID:nGNE2Tm2DP

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)