Richemont Outpaces Luxury Peers with Jewelry Division Strength

2 months ago

Louise Moon

"Let's start with Rishmon. Shares 7% higher this morning after their latest earnings update. Indeed, they had their first half results this morning, beating estimates essentially across the board, but the standout sector was really their jewelry division. So that was sales in their jewelry division was up 14%. Uh so that helped overall sales rise about 10% in their first half. So analysts are saying that jewelry remains and I quote a remarkable locomotive for growth and that these results confirm that that the company as a whole is the fastest growing within the luxury sector."

Richemont (ticker CFR) posted strong first-half earnings driven by its jewelry division, delivering a 14% sales increase in that segment and an overall 10% rise in sales, marking it as the fastest growing company in the luxury sector despite headwinds like tariffs.

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