0812 GMT - Richemont's jewelry business delivered an exceptional performance, exceeding even the most optimistic expectations, Vontobel analyst Jean-Philippe Bertschy says in a research note. The key jewelry division recorded a 17% sales increase at constant rates for the fiscal second quarter, accelerating from the 11% rise it reported in the previous three months. The Swiss luxury group significantly surpassed its competitors, underscoring the desirability and pricing power of its core Cartier and Van Cleef & Arpels brands, the analysts say. "We believe the trough has passed and that Richemont will consolidate on this strong base," he adds. Vontobel upgrades the stock to buy from a hold rating. Shares rise 6.7%. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
November 14, 2025 03:13 ET (08:13 GMT)
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