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Richemont Jewellery Sales Solid, Offsetting Drop in China Demand

The Cartier owner posted a slight rise in sales in the first quarter as solid results from its jewellery brands offset declines from China and its luxury watchmakers.
Richemont posted a slight rise in sales in the first quarter as solid results from its jewelry brands offset declines from China and its luxury watchmakers.
Richemont posted a slight rise in sales in the first quarter as solid results from its jewelry brands offset declines from China and its luxury watchmakers. (Getty Images)
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The Cartier owner reported a sales gain of 1% at constant currencies to €5.3 billion ($5.8 billion). That was in line with analyst forecasts and compares with double-digit gains a year earlier. The company said jewelry sales — which account for the bulk of its revenue and profit and also include the Van Cleef & Arpels and Buccellati brands — showed resilience, rising 4%.

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