Richemont's strong performance can be attributed to some good management decisions, UBS analysts tell investors in a note. The Swiss luxury group behind Cartier and Van Cleef & Arpels has performed better than many peers in recent years, due in part to its stronger focus on jewelry over soft fashion. But strategic decisions including product expansion, pricing discipline and a focus on local consumers rather than tourists have also helped insulate Richemont against many of the travails buffeting luxury, UBS says. A conservative approach to margin expansion has meanwhile helped keep momentum going, the Swiss bank notes. "Our forecasts point to another strong quarter," the analysts say, ahead of fiscal first-quarter results for the group later this month. (joshua.kirby@wsj.com; @joshualeokirby)