Richemont SA Reports Unaudited Sales Results for the Third Quarter and Nine Months Ended Dec. 31, 2016; Provides Financial Guidance for the Year Ending Mar. 31, 2017
January 13, 2017 at 12:15 pm
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Richemont SA reported unaudited sales results for the third quarter and nine months ended Dec. 31, 2016. For the quarter, the company reported total sales of 3,093 million against 2,927 million for the same period of last year. Sales in the quarter increased by 5% at constant exchange rates and by 6% at actual rates compared to the prior year's period.
For the nine months, the company reported total sales of 8,179 million against 8,748 million for the same period of last year. Sales over the nine-month period to December declined by 6% at constant exchange rates and by 7% at actual exchange rates.
The company provided financial guidance for the year ending 31 March 2017. For the year, the company expects, net profit will face a challenging comparative due to the prior year's inclusion of the 639 million non-cash gain relating to the merger of The NET-A-PORTER GROUP with YOOX Group.
Compagnie Financière Richemont SA is a world leader in luxury products. Net sales break down by family of products as follows:
- jewelry items (42.2%): the brands Cartier (world No. 1 in jewelry), Van Cleef & Arpels, and Giampiero Bodino;
- luxury watches (31.1%): Piaget, A. Lange & Söhne, Jaeger-LeCoultre, Vacheron Constantin, Officine Panerai, IWC Schaffhausen, Baume & Mercier and Roger Dubuis brands;
- other (26.7%): primarily pens, fine leather goods articles and clothing under the following brands: Montblanc, Chloé, Old England, Purdey, and Alfred Dunhill.
Net sales break down by activity between retail distribution (57.6%), wholesale distribution (23.7%) and online distribution (18.7%).
Net sales are distributed geographically as follows: Switzerland (2.4%), the United Kingdom (5.3%), Europe (15.6%), China (28.9%), Japan (6.3%), Asia (11.9%), the States United (19.9%), Americas (2.3%), Middle East and Africa (7.4%).
Richemont SA Reports Unaudited Sales Results for the Third Quarter and Nine Months Ended Dec. 31, 2016; Provides Financial Guidance for the Year Ending Mar. 31, 2017