1417 GMT - Richemont's strong third-quarter performance was largely due to its strength in the jewelry category, but it could also signal improving trends in the luxury sector, UBS analysts write in a note. "We have no doubt that in calendar 4Q the overall luxury environment saw some sequential improvement ahead of market's expectations, as suggested by Brunello Cucinelli's beat reported on Monday," they say. This was driven by improving trends in the U.S. and China. However, Richemont continued to gain market share helped by its jewelry brands, they say. Expectations are now higher for other companies due to report this earnings season, the analysts add. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
January 17, 2025 09:18 ET (14:18 GMT)
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