By  on November 14, 2008

LONDON — Luxury goods group Compagnie Financière Richemont felt the first big bite from the credit crunch as sales in October grew 1.6 percent overall, but dipped 2 percent at constant exchange rates. The parent of brands including Cartier, Montblanc, Chloé and Dunhill said the biggest sales declines were in America and Europe.

“In October, there was a significant change in ambiance compared with the first six months of the year, and the U.S. suffered the most,” said group finance director Richard Lepeu, during a conference call Friday to discuss the company’s six-month results to Sept. 30.

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