Luxury goods Richemont with stable sales development in the first quarter of 2024/25

Sales at the jewelry and watch group Richemont remained stable in the first three months of its 2024/25 financial year despite the weakening economy in China.

Keystone-SDA

16.07.2024, 07:34

16.07.2024, 08:01

SDA

In the months from April to June, sales in the reporting currency, the euro, fell only slightly by 1 percent year-on-year to 5.27 billion euros, according to a statement on Tuesday.

Adjusted for currency effects, there was even a small increase of one percent at Group level, the statement added. The Group grew in all market regions with the exception of Asia-Pacific.

With the figures presented, which do not include the online division that has been spun off for sale, the Geneva-based company slightly missed analysts' forecasts. On average, they had expected group sales of 5.29 billion euros.

Richemont does not publish any information on its results for the first quarter.