Swiss luxury group Richemont, known for brands like Cartier and Van Cleef & Arpels, announced a rise in sales for the fourth quarter. This growth came despite ongoing challenges in the luxury market, including slowing demand and uncertain global trade conditions.
For the three months ending March 31, Richemont reported sales of 5.17 billion euros ($5.78 billion). This figure is 7% higher than the same period last year, when measured at constant exchange rates. Analysts had expected sales of about 5.14 billion euros, according to Visible Alpha data.
The company’s main jewelry division performed strongly, with sales reaching 3.74 billion euros. This also beat analyst estimates, which were around 3.68 billion euros.
In contrast, Richemont’s watch division saw sales fall by 11% to 759 million euros at constant exchange rates.
Looking forward, Richemont said it is well-prepared for the next stage of growth. However, the company noted that the global economic environment remains uncertain and requires careful management and flexibility.
Net profit from ongoing operations decreased slightly to 3.76 billion euros, down from 3.82 billion euros in the previous year.
The company also proposed a higher dividend of 3.00 Swiss francs per share, up from 2.75 Swiss francs last year.
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