Times Are Tough, but Luxury Consumers Can't Get Enough of Cartier, or Van Cleef & Arpels, Jewelry [Yahoo! Finance]
COMPAGNIE FNCE RCH UN/ADR (CFRUY)
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Source: Yahoo! Finance
customers' appetite for Richemont's fine jewelry brands, which outstripped analysts' expectations and notched double-digit growth in the first fiscal half ended Sept. 30. First-half sales at Richemont 's jewelry division, which Jefferies described Friday as “a remarkable locomotive for growth,” rose 14 percent to 7.75 billion euros at constant exchange. In the second quarter sales were up 17 percent. More from WWD Richemont Sales Surge 10% in First Half 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 Richemont said all regions delivered double-digit growth in jewelry with the exception of Japan, which was flat. Jefferies said Richemont is now the fastest growing luxury company, while Citi proclaimed “All that glitters is Cartier ,” in its latest report on the Swiss watch and jewelry giant. The banks were expecting the division to climb 10
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