Flat ex­pec­ta­tions for Richemont

The Star Early Edition - - BUSINESS REPORT -

RICHEMONT’S third-quar­ter sales were ex­pected to be flat as watches vol­umes re­mained sub­dued. Von­to­bel said yes­ter­day that it ex­pected the neg­a­tive im­pact of watch in­ven­tory buy-backs to be less than pre­vi­ously and saw im­prove­ment in jew­ellery di­vi­sion growth. MainFirst said se­lected buy-backs, weak spe­cial­ist watch con­sump­tion and im­pact of shop­pers trad­ing down were likely to weigh on sales in the short term, but saw jew­ellery out­per­form­ing watches. Richemont shares gained 4.71 per­cent yes­ter­day to R95.50.

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