CFRUY Stock Recent News

Farfetch Limited (NYSE:FTCH) shares sunk further on Wednesday after luxury conglomerate Richemont said it will not inject any cash into online luxury retailer amid reports that the latter is exploring going private. Farfetch founder Jose Neves is reportedly considering the move after a troubled New York Stock Exchange listing for the British company.

Cartier-jewellery owner Richemont on Wednesday said it was "carefully monitoring" the situation after Farfetch's FTCH.N founder said he was considering taking the online luxury retailer private.

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.