Richemont : Jewellery brands holding up under the strain but the rest is faring a lot less well, we have lowered our 2021 forecast by over -20%
>Sales slumped as expected in Q4, but earnings were well below forecasts - Richemont's full-year results to end-March need to be put in context, as they are comprised of three more or less decent quarters initially (growth fairly lacklustre compared to that of soft luxury groups) and a final very poor quarter hard hit by the emergence of the COVID-19 crisis, particularly in Asia (group sales in Q4 in Asia Pacific declined by 37% on constant currencies, with a drop in...Compagnie Financiere Richemont is engaged in the luxury goods market. Co.'s interests encompass some names such as Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, Alfred Dunhill, Montblanc and Net-a-Porter. Co.'s luxury goods businesses are separated into four segments: Jewellery Maisons (design, manufacture and distribution of jewellery products), Specialist Watchmakers (design, manufacture and distribution of precision timepieces), Montblanc Maison (design, manufacture and distribution of writing instruments) and Other Businesses (Alfred Dunhill, Lancel, ChloA(c), Net-a-Porter, Purdey, textile brands and other manufacturing entities).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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