Cie Financiere Richemont SA

Earnings data Q1 2023

Earnings data Q2 2023

Compagnie Financière Richemont SA engages in the design, manufacture, and distribution of luxury goods. It operates through the following segments: Jewellery Maisons, Specialist Watchmakers, Online Distributors, and Other. The Jewellery Maisons segment produces jewellery products which include Cartier and Van Cleef & Arpels. The Specialist Watchmakers segment offers precision timepieces, which comprises Piaget, A. Lange & Sohne, Jaeger-LeCoultre, Vacheron Constantin, Officine Panerai, IWC Schaffhausen, Baume & Mercier, and Roger Dubuis. The online Distributors segment relates to online sale of luxury goods through YNAP and Watchfinder. The Other segment includes Montblanc, Alfred Dunhill, Chloé, Peter Millar, Azzedine Alaia, investment property companies, and other manufacturing entities. The company was founded by Johann P. Rupert in September 1988 and is headquartered in Bellevue, Switzerland.

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Luxury goods company Richemont reported a 14% increase in Q1-24 revenue, but a 4% decline in the Americas led to a 10% drop in stock value. Despite the drop, the company is on track to achieve record sales of €21.0B for the year, with strong performance in Asia Pacific, Europe, and the Middle East & Africa. The company's high-performing Jewellery Maisons segment, including Buccellati, Cartier, and Van Cleef & Arpels, showed resilience, while other segments decelerated.

Richemont: Growth Declines In America Reflect Inferiority, But Provide Opportunity

Exclusive Swiss retailer and owner of Cartier watches Richemont is the latest luxury large cap to feel the pinch of the diamond-encrusted jewell-buying elite. In a trading statement released on Monday, the Zurich-listed company saw a dramatic slowdown in Europe when comparing year-on-year performance.

Cartier-owner Richemont feels the pinch of American luxury buyers

Richemont's turnaround story has reached an end, as the company fully recovered from the pandemic and the LVMH takeover threat evaporated. With a rejuvenated focus on execution, the company achieved record revenues and profits in FY23, and announced the divestiture of its unprofitable YNAP business. The company's future growth is expected to be steady, with continued execution in its Jewellery Maisons and Specialist Watchmakers segments, but improvement in the lagging Other businesses is doubtful.

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Swiss luxury products stock Richemont's price has increased by 36% since November last year, with improved operating margins and strong sales growth in Asia Pacific as Chinese demand recovers. The company's forward price-to-earnings (P/E) ratio looks attractive compared to luxury peers, indicating a potential for further stock price growth. However, if sales in key markets like the US and Europe slow down more than expected, Richemont's earnings growth might be negatively impacted. So far though, this risk appears limited.

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Richemont is the 2nd largest luxury holding in Europe with a focus on luxury jewelry and watches. After some years, Richemont found its way back on the growth track and also achieved new highs of profitability and cash conversion.

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Compagnie Financière Richemont SA (OTCPK:CFRHF) Q4 2023 Results Conference Call May 12, 2023 3:30 AM ET Company Participants Sophie Cagnard - Investor Relations Johann Rupert - Chairman Jerome Lambert - Chief Executive Officer Burkhart Grund - Chief Finance Officer Cyrille Vigneron - Cartier CEO Nicolas Bos - Van Cleef & Arpels CEO Conference Call Participants Zuzanna Pusz - UBS Ashley Wallace - Bank of America Louise Singlehurst - Goldman Sachs Patrik Schwendimann - Zurcher Kantonalbank Edouard Aubin - Morgan Stanley Carole Madjo - Barclays Rogerio Fujimori - Stifel Sophie Cagnard So good morning and welcome to Richemont 2023 full year results presentation. Thank you to those in person for coming to Geneva, much appreciated, and also to those of you watching the webcast.

Compagnie Financière Richemont SA (CFRHF) Q4 2023 Earnings Call Transcript

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After a COVID-inspired sales drop, luxury brands Burberry and Richemont see hope in China's reopening.

Burberry and Richemont Look to Reopened China After 25% Sales Drop

Compagnie Financiere Richemont SA on Wednesday said sales growth slowed in its fiscal third quarter against tough comparison bases and with demand in China hit by further Covid-19 disruption.

Richemont sales slow due to tough comparisons, China COVID-19 disruptions

LVMH, the luxury goods company which owns brands such as Givenchy and Christian Dior, cemented itself as Europe's most valuable company after hitting a market cap of €400bn. Analysts at RBC Capital Markets said investor sentiment around the Paris-headquartered giant, headed by Frenchman Bernard Arnault, appears to remain positive, while also making bullish comments about fellow upmarket goods companies Richemont and Kering, part of its preferred trio in the luxury sector.

News for Cie Financiere Richemont SA Stock (CFRUY)