Consumer
Richemont Sales Soar in Early Sign of Luxury Recovery
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Richemont sales unexpectedly jumped by a double-digit percentage during the holiday shopping season as consumers splurged on Cartier jewelry, lifting shares across the luxury-goods sector on hopes of a rebound.
Sales soared 10% during the three months through December at constant exchange rates, Richemont said Thursday. Analysts had expected an increase of less than 1%. The Americas and Europe drove the performance, with purchases of expensive jewelry outweighing weak watch sales.