Richemont Posts Higher Sales on Cartier Jewelry Demand

Richemont posted better-than-expected sales as wealthy shoppers snapped up Cartier rings and bracelets, defying a wider downturn for luxury goods.

Sales at the jewelry division, Richemont’s largest, surged 11% at constant exchange rates in the quarter ending in June, the Swiss luxury group said Wednesday. Analysts had forecast a gain of 8.6%. Overall, sales climbed 6%, ahead of expectations.