Cartier-owner Richemont rides out headwinds with big sales beat [Yahoo! Finance]
COMPAGNIE FNCE RCH UN/ADR (CFRUY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance
forecasts (November 14). It said it'd managed to navigate global headwinds, like currency movements, rising gold prices and U.S. tariffs. There could be buoyant trade news on the horizon for the Swiss luxury group…Officials said after recent talks, the U.S. and Switzerland have edged closer to a trade deal to reduce crippling 39% tariffs on Swiss imports. The U.S. is Richemont's biggest single market, generating about 22% of sales. The company's other popular brands include watchmakers Piaget and Jaeger-LeCoultre, and jeweler Van Cleef & Arpels.Richemont said sales in the July to September period hit $6.08 billion, well ahead of analyst expectations. Sales in the Asia-Pacific region - Richemont's most important market dominated by China - saw sales rise by 10% at constant exchange rates.And the group saw China, combined with Hong Kong and Macau, return to growth during the quarter.It was the first positive reading in almost two years.Even stronger growth was seen in the Americas, wher
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