BRUSSELS (dpa-AFX) - Compagnie Financiere Richemont AG (CFRUY.PK), a Swiss luxury goods company, reported that its first-quarter sales declined 1% to 5.27 billion euros from 5.32 billion euros in the prior year. But quarterly sales were up 1% at constant exchange rates.
The company reported growth across all regions, except for Asia Pacific, driven by Japan and the Americas, both at actual and constant exchange rates.
At constant exchange rates, Retail sales increased by 2%, driven largely by mid-single digit growth at the Jewellery Maisons. Online retail sales rose by 6%, sustained by growth at Watchfinder as well as the Jewellery and Fashion & Accessories Maisons. The 5% sales decline in the wholesale channel primarily reflected weaker performance in Asia Pacific.
The Group's three Jewellery Maisons - Buccellati, Cartier and Van Cleef & Arpels - delivered a 4% sales growth against demanding comparatives.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
