CFRUY Stock Recent News

Number 1 in hard luxury category. 27 luxury maisons with histories stretching back to 1755. P/E of 14x (historical average of 21x).

Compagnie Financiere Richemont SA (OTCPK:CFRHF) Q2 2024 Earnings Call Transcript November 10, 2023 3:30 AM ET Company Participants Sophie Cagnard - Corporate Communications and IR Director Burkhart Grund - CFO Jerome Lambert - CEO Cyrille Vigneron - Cartier CEO Johann Rupert - Chairman Conference Call Participants Louise Singlehurst - Goldman Sachs Thomas Chauvet - Citi Research Zuzanna Pusz - UBS Luca Solca - Bernstein Antoine Belge - BNP Paribas Exane Edouard Aubin - Edouard Aubin Jon Cox - Kepler Cheuvreux Thierry Cota - Societe Operator Ladies and gentlemen, welcome to the Richemont Full Year '24 Interim Results Presentation. I am Alice, your call operator.

Shares in Richemont led Europe's luxury goods sector lower on Friday, after the Swiss-based group said geopolitical angst and a weakening European economy had delivered lower than expected first-half profits.

Richemont is a Swiss luxury goods company. The company has achieved consistent growth owing to its strong brands, such as Cartier, as well as its growing popularity in luxury goods. We expect continued revenue growth in line with what has been achieved historically, although tailwinds from China could improve this in the short term. This said, we highlight that China. Margin improvement has been driven by price action, with demand remaining strong in spite of this due to an increase in wealth prior to the successive rate hikes.

Investors looking for stocks in the Retail - Jewelry sector might want to consider either Signet (SIG) or Compagnie Financiere Richemont AG (CFRUY). But which of these two stocks is more attractive to value investors?

European authorities have approved online luxury retailer Farfetch's purchase of a stake in rival Yoox Net-A-Porter from Richemont in the last regulatory approval needed, the owner of Cartier said on Monday.

Richemont acquires a majority stake in Gianvito Rossi, diversifying its businesses in the luxury market. European Union antitrust authorities will decide on the Farfetch/YNAP merger. Richemont's stock price decline presents a buying opportunity with an attractive valuation (vs. the sector) and growth projections, given the company's upside on a more aggressive pricing policy for 2024.

Luxury retail stocks, such as brands LVMH (MC.PA), Kering (KER.PA), and Richemont (CFR.SW), have fallen off tremendously, reversing their year-to-date profit gains. Morgan Stanley analysts have decreased the price targets for both Kering and LVMH, and additionally downgraded Richemont to an "Equal Weight" rating.

Swetha Ramachandran, fund manager at Global Equities Artemis, discusses the luxury sector and what moves brands such as Gucci, Richemont and LVMH are making.

Bullish stock picks are as rare as a diamond and sapphire-set Rolex Submariner, if Jefferies' relaunched luxury coverage is anything to go by. The investment bank kicked off its coverage with just two buys, while suggesting that sector growth in 2024 will be 9% below consensus.