Richemont First-Quarter Sales Jump 20% to €6.3 Billion

Compagnie Financière Richemont reported first-quarter group sales of approximately €6.3 billion for the period ending June 30, 2026, marking a 20% increase at constant exchange rates. The result surpassed analyst expectations of €5.90 billion, triggering a 6% rise in the company's shares and a 7.5% increase on the JSE. The Stoxx European Luxury 10 index also rose 2.5% following the announcement.

Growth was primarily propelled by the jewelry division—including Cartier, Van Cleef & Arpels, Buccellati, and Vhernier—where sales rose 24% to reach between €4.7 billion and €4.73 billion. Retail sales surged 24% and accounted for 71% of total group sales. Geographically, Japan led growth with a 36% increase driven by local and tourist spending, followed by the Americas at 27% and Asia-Pacific at 21%, with notable demand in Hong Kong and Macau. Europe grew by 11%, while the Middle East and Africa saw a 3% increase as local demand offset conflict-related declines in tourism.

The company reported a net cash position of €9.1 billion, which included a €0.4 billion inflow from selling its stake in Avolta. Despite these gains, Richemont declined to provide a fiscal 2027 outlook, citing a volatile macroeconomic environment and geopolitical factors that have raised the cost of raw materials.