Shares of Cartier owner Richemont jump 17% as sales rise in December quarter
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 16 2025
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Source: CNBC
Richemont's Strong Sales Performance: Richemont, the owner of Cartier, reported a 10% increase in fiscal third-quarter sales to 6.2 billion euros, marking its highest quarterly sales figure despite a decline in demand from China.
Positive Outlook for Luxury Sector: The results are seen as a positive indicator for the broader luxury market, with analysts suggesting that this may signal a recovery after a challenging period, particularly in Asia-Pacific regions.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
