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Richemont warns on Q4 results

Richemont warns on Q4 results
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Swiss luxury goods group Richemont is cautioning investors about its fourth quarter results – for the period from January to March.

It said that was because of the strength of the Swiss franc and comparatively high earnings from a year earlier.

The world’s second largest luxury goods group – behind French rival LVMH – enjoyed brisk sales in Asia which were up by 23 percent in the final three months of the year.

The Geneva-based company’s shares retreated from recent gains.

The luxury goods industry has recovered strongly from its worst slump in decades thanks to buoyant demand in Asia, particularly China.

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