1423 GMT - Richemont's results have limited positive implications for its smaller Swiss peer Swatch Group, UBS analysts write in a note. The owner of Cartier on Thursday reported sales for its fiscal third quarter that exceeded analysts' projections. Although the better-than-expected growth of Richemont's watches division seems to have been taken as a positive read-across to Swatch, UBS analysts say they don't share the same view. This is due to Swatch's less-wealthy clients, who have reduced luxury purchases and to its exposure to China, where luxury companies are facing sliding demand. Shares in Richemont are up 1.5%, while Swatch shares are down 2.1%. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
January 17, 2025 09:30 ET (14:30 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。