Richemont Group reports declining sales in Asia-Pacific
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World’s second largest luxury conglomerate, Swiss based Richemont Group reports flat sales at constant exchange rates (sales increased at 4 percent at actual rates) in the quarter to 31 December 2014. Growth in Europe/Middle East and the Americas was offset by a significant decline in Asia-Pacific. Overall, third quarter trading was below the first six months of the year.
Questions & Answers
Q.Which regions saw sales growth for Richemont Group in the quarter to 31 December 2014?
Which regions saw sales growth for Richemont Group in the quarter to 31 December 2014?
Sales increased in Europe/Middle East and the Americas during the quarter. This growth helped to offset a notable decline in the Asia-Pacific region, contributing to the group's overall flat sales at constant exchange rates.
Q.How did Richemont Group's sales perform at actual exchange rates during the quarter?
How did Richemont Group's sales perform at actual exchange rates during the quarter?
At actual exchange rates, Richemont Group's sales increased by 4 percent in the quarter ending 31 December 2014. However, when constant exchange rates were applied, the company reported flat sales for the period.
Q.How did the third quarter trading compare to the first six months of the year for Richemont Group?
How did the third quarter trading compare to the first six months of the year for Richemont Group?
Richemont Group's third quarter trading performance was below that recorded in the first six months of the year. This indicates a slowdown in sales momentum compared to the earlier part of their financial period.
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What is the primary reason for Richemont's Asia-Pacific decline?
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