Skip to content
Subscriber Only
Andrea Felsted

Tough Times for Top Tat

Horrible profit forecasts mix with the faintest glimmers of hope.

Cartier love bangles and Birkin handbags haven't been enough to save Richemont and Hermes.

Richemont said it expected operating profit in the first half of this year to be 45 percent below the year earlier, while Hermes abandoned its medium-term target of 8 percent annual sales growth, excluding currency movements.