0923 GMT - Richemont's jewelry business should continue to impress, HSBC analysts write in a note. The Swiss luxury group has benefited from a positive performance of its Cartier, Van Cleef and Buccellati brands despite a wider downturn in demand for high-end goods. This should continue in the short to medium term, helped by new product launches, HSBC says. The analysts expect the key division to report organic sales growth of nearly 13% for its fiscal second quarter, sequentially improving compared with the 11% increase it booked in the previous quarter. Richemont is also reaping the benefits from the stability and quality of the management team under new CEO Nicolas Bos, they say. HSBC upgrades its rating on the stock to buy from hold. Shares trade 1.7% higher at 161.45 Swiss francs. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
November 03, 2025 04:23 ET (09:23 GMT)
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