Richemont has started the new fiscal year ahead of consensus expectations.
Strong sales in the Americas, Japan and Europe have offset a larger-than-expected contraction in sales in Asia (-15% yoy).
Although the sales contraction started to improve in June in China (-12% in June vs. -37% in Q1) when COVID-related restrictions were progressively eased, the country’s weaker-than-expected GDP growth has fuelled our concerns about the economic environment and the shape of China’s consumer recovery ....
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
China weighs
Compagnie Financiere Richemont SA (CFR:SWX) | 0 0 0.0%
- Published:
15 Jul 2022 -
Author:
Jie Zhang -
Pages:
3
Richemont has started the new fiscal year ahead of consensus expectations.
Strong sales in the Americas, Japan and Europe have offset a larger-than-expected contraction in sales in Asia (-15% yoy).
Although the sales contraction started to improve in June in China (-12% in June vs. -37% in Q1) when COVID-related restrictions were progressively eased, the country’s weaker-than-expected GDP growth has fuelled our concerns about the economic environment and the shape of China’s consumer recovery ....