Cartier owner Richemont posts 10% increase in Q3 sales
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FILE PHOTO: High jewellery are displayed at luxury goods maker Cartier store on Place Vendome in Paris, France, July 2, 2019. REUTERS/Regis Duvignau/File Photo
ZURICH (Reuters) - Cartier jewellery owner Richemont on Thursday reported a 10% increase in constant currency sales during the three months to the end of December, a strong early indicator for the performance of European luxury companies over the all-important holiday season.
Sales at actual rates increased to 6.2 billion euros ($6.37 billion), said the company, which also owns high-end Swiss watch brands Piaget, IWC and Jaeger-LeCoultre.
At constant exchange rates - which removes the impact of currency fluctuations - sales increased by 10%. This was much better than 1% increase expected by analysts in a consensus cited by RBC.
($1 = 0.9727 euros)
(Reporting by John Revill, Editing by Friederike Heine)
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