CFRUY Stock Recent News

Luxury company Richemont on Friday announced changes to its senior management, with the bosses of jewellery companies Cartier and Van Cleef joining its executive committee.

Richemont's Q3 results exceeded expectations with €6.15 billion in sales, driven by strong performance in the Jewellery Maisons division, aligned with our investment thesis. Despite a decline in the Specialist Watchmakers segment, Richemont showed double-digit growth in key regions and a solid balance sheet with €7.9 billion in net cash. From a discounted valuation, Richemont is now fully priced at P/E and is aligned with peers on a dividend yield basis. We moved our rating to neutral.

Richemont of Cartier and Van Cleef & Arpels fame just delivered spectacular third quarter results, ending December 31 with its luxury jewelry brand revenues up 14%.

CNBC's Robert Frank joins 'Closing Bell: Overtime' to discuss luxury stock earnings.

European luxury shares jumped Thursday after Cartier parent Richemont reported record quarterly sales, lifting investor hopes that the high-end sector is finally recovering from a slump caused by weak Chinese demand.

CNBC's Charlotte Reed reviews the quarterly results of Cartier owner Richemont.

The struggling European luxury-goods sector roared to life Thursday after Richemont reported its highest-ever quarterly sales as it blew by analyst estimates.

Richemont sales unexpectedly jumped by double digits during the holiday shopping season as consumers splurged on Cartier jewelry, a sign of recovering demand for luxury goods. Angelina Rascouet reports.

Cartier owner Richemont on Thursday reported a 10% increase in third quarter sales even as China demand weighed.

Richemont , the owner of Cartier jewellery, on Thursday fuelled hopes of a revival for the beaten down luxury goods industry, with end-of-year sales that exceeded expectations, sending shares higher across the sector.