Richemont Posts 2.8% Rise On Year In Sales To $4 billion In Fiscal Q3

(IDEX Online News) – Luxury brand retailer Richemont said sales edged up 2.8 percent on the year to $4 billion (2.94 billion euros) in its third fiscal quarter that ended on December 31. 

Sales at its jewelry brands, which include Cartier, Piaget and Van Cleef & Arpels, grew by 3 percent to $2 billion (1.52 billion euros).

Revenue from its watch brands increased by 4 percent to $1.1 billion  (817 million euros).

In a breakdown of sales by region, the luxury retailer reported that sales in Europe, the Middle East and Africa posted the healthiest rise – up 7 percent to $1.48 billion (1.09 billion euros.

Revenue from the Americas increased by 6 percent to $652 billion (480 million euros).

Asia Pacific region sales inched up 1 percent to $1.54 million (1.13 billion euros), while sales in Mainland China did not rise, and in Japan plunged 13 percent on the year to $333 million (245 million euros).

For the first nine months of its year, total sales climbed 4 percent on the same period a year earlier to $11.25 billion (8.27 billion euros), while retail sales increased by 6 percent to $6 billion (4.41 billion euros).