Richemont Sales Surge 10% in First Half [Yahoo! Finance]
COMPAGNIE FNCE RCH UN/ADR (CFRUY)
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Source: Yahoo! Finance
LONDON – Sales at Cartier parent Richemont grew 10 percent at constant exchange to 10.62 billion euros in the first half despite a raft of challenges ranging from surging gold prices to geopolitical events. More from WWD Elle Fanning Shimmers in Chanel Sequins and Cartier Jewels at MoMA Film Benefit Queen Camilla Goes Blue With Symbolic Van Cleef & Arpels Brooch for English National Ballet Reception Elle Fanning Blooms in Rodarte Blue Floral Dress for 'Seth Meyers' Appearance Sales at the group, home to brands including Van Cleef & Arpels , IWC, Alaïa and Chloé, were up 5 percent at reported exchange in the six months to Sept. 30. The second quarter was a standout, with all regions delivering double-digit growth at constant exchange due to “sustained local demand” and despite a series of price tweaks aimed at mitigating the impact of higher gold prices and severe currency fluctuations. The results outstripped analysts' expectations, and sent the share price up nearly 7
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