Cartier Owner Richemont’s Sales Beat Expectations in Holiday Quarter

Richemont’s customers splurged on its watches and Cartier jewelry over the holidays particularly in the US, even as wider concerns about the luxury market remain.

Sales on a constant currency basis rose 11% to a record in the fiscal third quarter, the Swiss luxury group said Thursday. That beat the 7.5% estimated by analysts, while 14% growth at the jewelry division also topped expectations.