Richemont sales beat poll, no word on new watchmaking head

13 September 2017 6:00 AM

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Richemont sales beat poll, no word on new watchmaking head

GENEVA (Reuters) - Cartier-maker Richemont said its sales rose by a better-than-expected 12 percent at constant currency in the five months to Aug. 31, helped by easy comparables and a strong performance in its jewelry business.

The world's No.2 luxury goods group and peer Swatch Group are emerging from a long period of declining sales caused by the collapse of the Hong Kong market and fewer Chinese tourists traveling to Europe's luxury shopping hubs.

Richemont did not comment on expectations for the coming months, or nominate a successor to head its watchmaking business, including brands IWC and Jaeger-LeCoultre, ahead of its annual general meeting in Geneva later on Wednesday.

Source: whtc.com

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