Shares of Cartier owner Richemont
jumped on Thursday after the luxury group reported a 10% increase in fiscal third-quarter sales even as China demand weighed.
Sales rose to 6.2 billion euros ($6.38 billion) at constant exchange rates in the three months to the end of December, which the Swiss luxury brand dubbed its “highest ever” quarterly sales figure. That was well above 1% increase expected by analysts in a consensus cited by RBC, according to Reuters.
Richemont shares closed 16.36% higher on Thursday.
Other luxury stocks Christian Dior
, LVMH
and Hermes
moved higher at the results marked a positive signal for the health of Europe’s luxury sector over the holiday shopping period.
