LONDON — Solid sales in the U.S. coupled with a demand for jewelry helped Compagnie Financière Richemont AG post better-than-expected results for the first half ending Sept. 30.
The Swiss luxury goods group said in a statement Thursday that net profit fell 18.5 percent to $132 million from $162 million, owing chiefly to a double-digit decrease in operating profit. Sales declined 3 percent to $1.78 billion from $1.84 billion euro. Excluding the negative impact of exchange rates, however, sales increased by 1 percent.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)