Compagnie Financière Richemont SA (SIX:CFR) reported a strong Q1: sales €6.33bn, up 20% constant FX driven by jewellery (€4.73bn, +24%) and watches (€873m, +8%), retail up 24% and net cash €9.1bn, while J.P. Morgan upgraded its equity rating to Overweight.
Previous Week Recap
- Richemont Q1 Sales Surge: Richemont Q1 sales €6.33bn, +20% at constant FX. Jewellery €4.73bn (+24%), Watches €873m (+8%). Retail +24% across regions. Net cash €9.1bn (incl. €0.4bn Avolta disposal).
- JPMorgan Upgrades CFR Stock: J.P. Morgan upgraded Compagnie Financière Richemont SA (CFR) stock from Neutral to Overweight, clarifying the change applies to its equity recommendation and correcting a prior mislabelled headline.
This is an AI-generated summary and may contain inaccuracies. Please verify any important information with the original sources.