Richemont reported that sales rose 13 percent year on year at constant-exchange-rates during a five month period ending on August 31, 2012. The company noted that the weakening of the euro against the dollar had a positive impact on group sales, Rapaport reports.
Sales in Europe rose 19 percent driven by steady retail purchases from tourist destinations in the region. Sales in the Asia-Pacific region increased 12 percent, while sales in Japan rose 4 percent. Sales in the Americas grew 6 percent, representing a slower rate of growth from the previous year partly due to the timing of exceptional sales in the comparative period.
Overall retail sales grew 15 percent reflecting a good performance in existing boutiques as well as the opening of new boutiques, notably in the Asia-Pacific region. Wholesale sales increased 10 percent.
Sales at Richemont’s jewelry maisons division, which includes Cartier and Van Cleef and Arpels, grew 12 percent while sales at the company's specialist watchmakers rose 16 percent.
The company expects its operating profit for the first half to rise between 20 percent to 40 percent when the full results are published on November 9.
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