Cartier Parent Richemont Post Sales Rise Despite Uncertain Market Backdrop — Update

By Andrea Figueras

Swiss luxury-goods group Richemont reported an increase in sales for its most recent quarter, a bright spot for a luxury sector otherwise facing feeble demand.

The owner of jewelers Cartier and Van Cleef & Arpels said Friday that sales for its fiscal second quarter through September climbed 13% from the same period a year earlier at constant exchange rates. Quarterly sales reached 5.95 billion euros ($6.58 billion), surpassing analysts' forecasts of 5.895 billion euros, according to Visible Alpha consensus.

The group's growth engine, its jewelry business, booked a 14% rise in sales. The watches segment, which experienced soft demand in recent years, recorded a 12% sales increase.

Hopes of a recovery in demand for luxury goods have faded in recent weeks as major players, including Paris-based industry leader LVMH, reported weak sales, weighed by a gloomy consumer backdrop in the key Chinese market.

Despite the challenging market environment, Richemont is benefiting from the resilience of jewelry. The category's superior growth and pricing power are a boon for the jewelry-focused group, analysts at Bernstein wrote in a recent research note.

"Richemont delivered strong results in a volatile geopolitical and macroeconomic environment," Chairman Johann Rupert said, adding that this uncertain backdrop is expected to continue in the foreseeable future.

Revenue for the first half as a whole grew 17% on year excluding currency movements to 12.28 billion euros, against analysts' views of 12.22 billion euros.

Net profit for the six-month period jumped to 2.53 billion euros from 1.8 billion euros previously, while its operating margin expanded 330 basis points to 25.5%.

Write to Andrea Figueras at andrea.figueras@wsj.com

(END) Dow Jones Newswires

November 13, 2026 02:46 ET (07:46 GMT)