The challenging environment is still weighing on Richemont. Sales were down 12% at CER in H1 to reach €5,086m. The inventories’ buy-back problem has exacerbated the situation, pulling down the decline by 4pp at CER. Wholesale sales slipped 20% to reach €2,115m. The decline was softer with owned boutiques which slid 5% to €2,971m. All business segments were impacted by the tough market conditions. Jewellery has resisted better with a sales drop of 13% compared to 17% for w
04 Nov 2016
CEO and CFO to retire following the sharp dip in H1 performance
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CEO and CFO to retire following the sharp dip in H1 performance
Compagnie Financiere Richemont SA (RITN:ETR) | 0 0 0.7% | Mkt Cap: 44,518m
- Published:
04 Nov 2016 -
Author:
Rim BEN SALAH -
Pages:
2
The challenging environment is still weighing on Richemont. Sales were down 12% at CER in H1 to reach €5,086m. The inventories’ buy-back problem has exacerbated the situation, pulling down the decline by 4pp at CER. Wholesale sales slipped 20% to reach €2,115m. The decline was softer with owned boutiques which slid 5% to €2,971m. All business segments were impacted by the tough market conditions. Jewellery has resisted better with a sales drop of 13% compared to 17% for w