RICHEMONT reports sales increase of 8% for the 3Q and 18% for the 9 months ended 31 December 2022.
Sales up by 5% at constant exchange rates and by 8% at actual exchange rates.
Sales growth across all regions with the exception of Asia Pacific, significantly impacted by mainland China’s underperformance.
Growth across all distribution channels, led by retail and online retail channels.
Double-digit sales growth reported at the Jewellery Maisons and Other business areas (+8% and +6% at constant exchange rates, respectively) offsettting a 3% sales reduction at the Specialist Watchmakers (-5% at constant exchange rates).
Further increase of the Group’s net cash position to € 5.5 billion, up € 0.6 billion, following the quarter’s solid trading.
Alex Shishlo for Rough&Polished
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