Richemont shares fall

Comment on this story


Richemont

Reuters.

People walk past a jewellery store offering watches of Swiss luxury watchmaker International Watch Company (IWC), which is part of Swiss luxury goods group Richemont at the Bahnhofstrasse in Zurich.

Johannesburg-listed shares of Richemont fall more than 6 percent after the luxury goods retailer reports disappointing third-quarter sales figures and says the near-term outlook for its Asia-Pacific business is unclear.

Sales in the three months to the end December failed to meet expectations, rising 5 percent at constant exchange rates and 9 percent at actual rates.

Richemont shares are trading 6.7 percent lower at 70.35 rand, compared with a 0.7 percent fall in the JSE Top-40 blue-chip index. - Reuters


sign up
 
 

Comment Guidelines



  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

     

Join us on

IOL-Social networks IOL-Social networks IOL-Social networks IOL-Social networks