Richemont stock is surging by the most ever. Other luxury plays are jumping too.
The struggling European luxury-goods sector roared to life Thursday after Richemont reported its highest-ever quarterly sales as it blew by analyst estimates.
Cartier owner Richemont’s sales surge fuels hopes of luxury turnaround
Richemont , the owner of Cartier jewellery, on Thursday fuelled hopes of a revival for the beaten down luxury goods industry, with end-of-year sales that exceeded expectations, sending shares higher across the sector.
Luxury stocks soar as Richemont sparks rally and hopes of sector turnaround
Luxury goods stocks jumped on following Cartier-owner Richemont a surge in sales, prompting hopes of a turnaround for the sector.
Luxury goods groups drive European stocks to highest level in a month
European stocks rose to hit their highest level in a month on Thursday as heavyweight luxury companies were boosted by buoyant sales from Swiss group Richemont. The broad-based Stoxx 600 index rose 0.
Luxury stocks boom as Richemont kicks off reporting season with a bang
Richemont's report indicated that the luxury market may finally be recovering from a slowdown that has lasted nearly two years.
European luxury stocks jump after Richemont smashes expectations
Investors were excited as Cartier owner Richemont's third-quarter sales beat expectations and revived optimism for the battered sector.Company shares jumped 14%.The Swiss company's sales jumped by a tenth year-on-year to $6.
Luxury stocks leap on Richemont's robust holiday sales
Shares in Richemont itself experienced a significant boost, rising 16%, as investors responded to the company's strong sales figures. The broader luxury goods industry often takes cues from the performance of its leaders, and Richemont's results have provided a much-needed positive signal for the sector.
Cartier owner Richemont sales surge shows strength of top end luxury
Richemont, the owner of Cartier jewellery, beat market expectations for third-quarter sales on Thursday, fuelling hopes that the luxury sector could be coming out of its recent downturn. The Swiss company's sales jumped 10% year-on-year to 6.
Luxury Stocks Jump on Strong Sales Update From Cartier Owner Richemont
European luxury stocks surged after Richemont, the company behind Cartier, Piaget and Van Cleef & Arpels, reported a "very solid end" to 2024, with quarterly sales surging to a record. Shares in Dior,
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Richemont sales rise 10% in Q3
The Swiss luxury conglomerate starts the year on a high note by reporting a strong sales beat, signalling signs of life for ...
Rallying luxury-goods stocks buoy French bourse
The CAC 40 in France was Europe's outstanding performer on Thursday, as its heavy weighting of luxury-goods groups pushed the index up 1.8%. The rally came after Swiss-listed Richemont, whose brands ...