“We view these results as exceptionally strong,” Piral Dadhania, an analyst at RBC Capital Markets, wrote in a note.
Richemont sales unexpectedly jumped by double digits during the holiday shopping season as consumers splurged on Cartier jewellery, a tentative sign that demand for luxury goods may be recovering.
Sales soared 10% during the three months through December at constant exchange rates, Richemont said Thursday. Analysts had expected an increase of less than 1%. The Americas and Europe drove the performance, with purchases of expensive jewellery outweighing weak watch sales, which have dragged on the group’s profit.
