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.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"