Sometimes wiping off casts isn’t a bad thing. The Swiss luxury giant Compagnie Financière Richemont is the first player in the sector to publish its sales for the October/December period. And its performance is particularly impressive, which is worth the title a gain of 6.7% in the morning, to 143.30 CHF. Something to wake up the European locomotives that are LVMH and Hermès. The French CAC40, which had opened lower, finds itself propelled into the green thanks to its trio LVMH, Hermès, Kering. In Zurich, the SMI benefits from the contribution of Richemont.
This “heatmap” shows, in fluorescent green, the contribution of LVMH (MC), Compagnie Financière Richemont (CFR), Kering (KER), Hermès (RMS) on the rise of the day, well supported by ASML and L’Oréal ( GOLD):
Explosive growth
Richemont, which notably owns Cartier, Van Cleef, Baume & Mercier, Chloé, Montblanc or Piaget, reported sales up 32% in the quarter ended December 31, driven by strong demand for its jewelry and watches in Europe. and on the American continent. Turnover reached €5.658 billion, an increase of 38% compared to the same period in 2019, before the coronavirus pandemic, the group said in a press release. If China suffered (+7%), the United States (+55%) and Europe (+42%) took over.
It’s about “a series of very solid figures in all areas, driven by an unparalleled jewelry business“commented Jon Cox, analyst at Kepler Cheuvreux, also pointing to growth in Europe. In reality, Prada had published its earnings as early as Monday, reporting a 41% increase in revenue, but Richemont is a better barometer. sectoral.
European stocks in the sector up this morning, for the most part