Cartier Owner Richemont Posts Sales Beat on Strong Jewelry Performance
By Andrea Figueras
Swiss luxury group Richemont reported better-than-expected sales for its most recent quarter, bolstered by its jewelry business and despite a volatile market for the luxury sector.
The jeweler and watchmaker on Wednesday booked sales of 6.33 billion euros ($7.23 billion) for the quarter ended June 30, a 20% increase compared with the same period a year earlier at constant exchange rates. The result compares with analysts' forecasts of 5.89 billion euros, according to a Visible Alpha poll of estimates.
Sales growth accelerated from the preceding quarter, when the company posted a 13% rise.
The core jewelry business, home to brands like Cartier and Van Cleef & Arpels, recorded a 24% jump in sales to 4.73 billion euros, ahead of consensus expectations of 4.35 billion euros.
In recent years, Richemont has performed better than many of its competitors, partly due to its stronger focus on jewelry rather than fashion. In addition, the company targets mainly local consumers rather than tourists, which has helped it avoid some of the challenges faced by the luxury industry.
Write to Andrea Figueras at andrea.figueras@wsj.com
(END) Dow Jones Newswires
July 15, 2026 02:03 ET (06:03 GMT)
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