Daily Digest

Richemont Revenue Growth Misses Estimates as China Sales Decline

Richemont | Source: Richemont

“Cie. Financiere Richemont SA, the world’s largest jewelry maker, reported slower revenue growth for the first five months of its fiscal year that missed analysts’ estimates on lower sales in mainland China. Sales rose 9 percent in the period through August, excluding currency shifts, the Geneva-based company said today in a statement. Analysts expected 10 percent growth, according to the median of 21 estimates gathered by Bloomberg News.”