Richemont published a weaker-than-market-expected start to the new year as the strong recovery in Asia Pacific was partially offset by a higher-than-expected contraction in the Americas. In parallel, China released macroeconomic data for June this morning that fell short of market expectations, with total retail sales growth slowing significantly compared to the previous month. The weakening consumer environment in the US along with uncertain macro conditions in China further reduce the visib ....