Richemont Post Sales Uptick Despite Difficult Sector Backdrop
By Andrea Figueras
Richemont reported an acceleration in sales growth for its most recent quarter at a time when the luxury industry confronts challenging market conditions due to economic and geopolitical instability.
The Swiss luxury-goods company booked sales of 5.4 billion euros ($6.27 billion) for its fiscal fourth quarter ended March 31. This was 13% higher on year at constant exchange rates and slightly above analysts' estimates of 5.31 billion euros. In the preceding quarter, sales climbed 11% compared with the year-earlier period.
The core jewelry business, which houses brands such as Cartier and Van Cleef & Arpels, recorded a 16% increase in quarterly sales driven by strong demand.
The luxury industry was poised for an uptick in demand in 2026 after a prolonged slump the past few years. Richemont was set to benefit from the positive momentum in the jewelry category and outperform sector rivals. However, high-end brands are now grappling with the impact of the war in Iran on demand.
The group said it expects uncertainty to persist, not least in relation to the war in the Middle East.
Write to Andrea Figueras at andrea.figueras@wsj.com
(END) Dow Jones Newswires
May 22, 2026 02:15 ET (06:15 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
4 Stocks to Buy Before They Rise Further
2 Undervalued Stocks to Buy Before They Rebound
The 10 Best Dividend Stocks
12 Best Blue-Chip Stocks to Buy for the Long Term
United States