financial
financial

Richemont Sales Rise 8 Percent, Stock Falls

Third-quarter sales at Compagnie Financiere Richemont rose 8 percent to 1.67 billion euro, or $2.44 billion, in line with analysts' forecasts, but the stock market gave the news a chilly reception.

financial/news

LONDON  Third-quarter sales at Compagnie Financiere Richemont rose 8 percent to 1.67 billion euros, or $2.44 billion, in line with analysts' forecasts, but the stock market gave the news a chilly reception.

On Wednesday morning, Richemont shares tumbled 6.81 percent, with investors keying into flat sales in the U.S., and a 6 percent drop in sales in Japan. Sales in both those markets slowed in December, Richemont said.

However, a Richemont spokesman told WWD the company was happy with the quarterly sales. “Sadly, the market is very nervous right now, but from our perspective, the business is in good shape,” he said.

For complete coverage, see Thursday's WWD.

load comments

ADD A COMMENT

Sign in using your Facebook or Twitter account, or simply type your comment below as a guest by entering your email and name. Your email address will not be shared. Please note that WWD reserves the right to remove profane, distasteful or otherwise inappropriate language.
News from WWD
Newsletters

Sign upSign up for WWD and FN newsletters to receive daily headlines, breaking news alerts and weekly industry wrap-ups.

LatestPublications
getIsArchiveOnly= hasAccess=false hasArchiveAccess=false