The Swiss luxury goods group Richemont significantly increased sales in the Christmas quarter.
Market expectations were significantly exceeded: analysts had expected stable development. Sales in Asia fell less sharply than expected. The share price rose by around seven percent in premarket trading on Thursday morning.
In the third financial quarter of 2024/25 (at the end of December), sales rose by ten percent to 6.15 billion euros, as Richemont announced on Thursday. In local currencies, sales also increased by ten percent. The jewelry business with the flagship brand Cartier continued to be strong (+14 percent), while the watch business with brands such as IWC struggled (-8 percent).
Richemont does not publish profit figures for the third quarter. As usual, Richemont also did not provide a specific outlook for the full year 2024/25. (dpa)