Thursday, December 19

Tag: CH:CFR

Richemont Says It Has No Plans to Invest in Farfetch, or Lend to It
29Nov By adminNo Comments
World

Richemont Says It Has No Plans to Invest in Farfetch, or Lend to It

Compagnie Financiere Richemont said that it has no financial obligations toward the luxury fashion e-commerce company Farfetch and doesn’t plan to lend to or invest in it.The Swiss-based luxury group’s release comes after Farfetch said late Tuesday that it wouldn’t publish its third-quarter results, which were due Wednesday. The company won’t provide forecasts at this time, and any prior guidance should no longer be relied upon, Farfetch said.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Richemont Posts Slowing Sales Growth Amid Challenging Environment
10Nov By adminNo Comments
World

Richemont Posts Slowing Sales Growth Amid Challenging Environment

Compagnie Financiere Richemont posted a slowdown in sales growth for the first-half of fiscal 2024 due to inflation, slowing economic growth and geopolitical tensions that hurt customer sentiment.The Swiss-based luxury company, which counts jeweler Cartier among its brands, said on Friday that it made net profit from continuing operations of 2.16 billion euros ($2.30 billion) for the first six months to Sept. 30, compared with EUR2.11 billion in the year-earlier period. Including discontinued operations, the company swung to a net profit of EUR1.505 billion, compared with a loss of EUR766 million.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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