Richemont Drops on October Sales Decline, New Cartier CEOBy
Maker of IWC Swiss timepieces sees challenging second half
Outlook spurs decline in shares of rivals LVMH and Swatch
Richemont shares fell the most in two months after a surprise sales drop in October and the departure of the head of jewelry and watch label Cartier, which leaves the Swiss luxury-goods maker’s biggest brand without a permanent chief during the critical Christmas period.
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