CFRUY Stock Recent News

Tapestry, Inc. (TPR) the parent company of brands such as Coach and Kate Spade, has acquired Capri Holdings Limited (CPRI), home to brands Versace, Jimmy Choo, and Michael Kors, in a deal worth about $8.5 billion. Here are some of the lesser known parent brands of the world's biggest luxury brands.

Luxury goods company Richemont reported a 14% increase in Q1-24 revenue, but a 4% decline in the Americas led to a 10% drop in stock value. Despite the drop, the company is on track to achieve record sales of €21.0B for the year, with strong performance in Asia Pacific, Europe, and the Middle East & Africa. The company's high-performing Jewellery Maisons segment, including Buccellati, Cartier, and Van Cleef & Arpels, showed resilience, while other segments decelerated.

Exclusive Swiss retailer and owner of Cartier watches Richemont is the latest luxury large cap to feel the pinch of the diamond-encrusted jewell-buying elite. In a trading statement released on Monday, the Zurich-listed company saw a dramatic slowdown in Europe when comparing year-on-year performance.

Richemont reported a surprise drop in revenue from the Americas in the three months through June. The Swiss owner of Cartier led luxury-goods stocks lower amid concerns that demand in the US and China is starting to slip.

Richemont's turnaround story has reached an end, as the company fully recovered from the pandemic and the LVMH takeover threat evaporated. With a rejuvenated focus on execution, the company achieved record revenues and profits in FY23, and announced the divestiture of its unprofitable YNAP business. The company's future growth is expected to be steady, with continued execution in its Jewellery Maisons and Specialist Watchmakers segments, but improvement in the lagging Other businesses is doubtful.

Swiss luxury products stock Richemont's price has increased by 36% since November last year, with improved operating margins and strong sales growth in Asia Pacific as Chinese demand recovers. The company's forward price-to-earnings (P/E) ratio looks attractive compared to luxury peers, indicating a potential for further stock price growth. However, if sales in key markets like the US and Europe slow down more than expected, Richemont's earnings growth might be negatively impacted. So far though, this risk appears limited.

Here is how Compagnie Financiere Richemont AG (CFRUY) and Chuy's Holdings (CHUY) have performed compared to their sector so far this year.

Here is how Compagnie Financiere Richemont AG (CFRUY) and Chuy's Holdings (CHUY) have performed compared to their sector so far this year.

Richemont is the 2nd largest luxury holding in Europe with a focus on luxury jewelry and watches. After some years, Richemont found its way back on the growth track and also achieved new highs of profitability and cash conversion.

Compagnie Financière Richemont SA (OTCPK:CFRHF) Q4 2023 Results Conference Call May 12, 2023 3:30 AM ET Company Participants Sophie Cagnard - Investor Relations Johann Rupert - Chairman Jerome Lambert - Chief Executive Officer Burkhart Grund - Chief Finance Officer Cyrille Vigneron - Cartier CEO Nicolas Bos - Van Cleef & Arpels CEO Conference Call Participants Zuzanna Pusz - UBS Ashley Wallace - Bank of America Louise Singlehurst - Goldman Sachs Patrik Schwendimann - Zurcher Kantonalbank Edouard Aubin - Morgan Stanley Carole Madjo - Barclays Rogerio Fujimori - Stifel Sophie Cagnard So good morning and welcome to Richemont 2023 full year results presentation. Thank you to those in person for coming to Geneva, much appreciated, and also to those of you watching the webcast.