Richemont's Shares Surge After Sales Beat

Dow Jones07-15

Shares in Richemont jumped after the Switzerland-based luxury company reported sales for its fiscal first quarter that came ahead of expectations.

The group, which houses high-end brands including Cartier and Van Cleef & Arpels said Wednesday that it made sales of 6.33 billion euros ($7.23 billion) for the quarter ended June 30. The result came ahead of Visible Alpha consensus of 5.89 billion euros.

Sales climbed 20% on year, accelerating from the previous quarter, when the company reported a 13% increase.

The stock rose 5.5% to 193.35 Swiss francs in European morning trading. Other rivals in the luxury sector also traded higher following the news, with sector bellwether LVMH up 2.3%. Kering, the parent company of Italian label Gucci, jumped 2.4%, while shares Birkin bag maker Hermes increased 2%. Italian peers Brunello Cucinelli, Salvatore Ferragamo and Moncler also saw their shares climb. Burberry and Swatch Group recorded gains too.

Richemont's key jewelry business recorded quarterly sales of 4.73 billion euros, 24% higher compared with the same period a year earlier. This marks the seventh consecutive quarter of double-digit growth at the all-important segment.

The company's sales momentum continues to impress, with standout performance of its core division across all geographies, analysts at Citi said in a note. "We continue to view one of the sector's undisputed growth leaders as offering attractive upside potential," they added.

While the market environment remains challenging for the luxury sector due to economic and geopolitical uncertainty, analysts at Deutsche Bank argued that the results seem a positive read-across for the broader industry.

Yet, Vontobel's Jean-Philippe Bertschy said that Richemont's rivals are expected to report weaker results, noting that the Swiss group benefits from a portfolio of highly desirable brands with strong pricing power and geographical diversification.

Write to Andrea Figueras at andrea.figueras@wsj.com

(END) Dow Jones Newswires

July 15, 2026 03:36 ET (07:36 GMT)

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Richemont's Shares Surge After Sales Beat

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