The Cartier Cartier China now decline

 

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Zurich 21, 2009 , Richemont (CFR.VX) Richemont Group released earnings for the third quarter and first nine months of this year , third quarter sales growth of 5% , as of December 31 , (fixed exchange rates ) to € 2.862 billion , lower than expected , the generalized slowdown in other regions except the U.S. , in China there is no growth .

 

21 , Richemont Group , Richemont ( CFR.VX ) shares fell 7.3 percent , the biggest intraday decline since September 2011 , its brands and departments in China sales slowdown is caused by the industry's concerns , and this one is the worst , especially its main brand Cartier Cartier including Cartier Cartier jewelry sector , the revenue from the 20% growth in the first half to only 8% of the growth in sales an increase of 4% in the case of constant exchange rates , much lower than the analyst forecast of 10 % .

 

Berenberg Bank analyst John Guy said the Cartier Cartier China sales may decline because of changing tastes of Asian buyers tend to buy handmade watches , not battery table . John Guy said in an interview with Bloomberg News in a telephone interview : " Cartier Cartier Asia is underperforming segments , the Asian buyers tastes are changing , more investment in automatic and mechanical watches section . Cartier Cartier use battery quartz table gross profit of 80% , while gold automatic table for only 65% of the gross profit .

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Hong Kong Census and Statistics Department released retail sales figures for November , the figures show that the third quarter, sales of jewelry watch sales year - on - year increase of 13.6% , mainly jewelery watches Richemont (CFR.VX) Richemont Group comprehensive slowdown is difficult to understand , Richemont Group , Richemont ( CFR.VX ) even did not release profit figures , the second quarter , the Richemont Group , Richemont ( CFR.VX ) profit of up to 52.4% .