Cartier Owner Richemont’s Sales Beat Buoys Luxury Stocks
Richemont reported better-than-expected quarterly sales, triggering a rally in luxury stocks, after its core jewelry division bucked a downturn in demand for high-end goods.
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Wall Street rally loses steam as European luxury shares advance
Stock Market Today: Asian Shares Advance After Inflation Data Drives a Rally on Wall Street
Stock market today: Wall Street mixed early as company earnings and retail data roll in
Richemont Rises And Signet Falls As Jewelry Market Splinters Between True And Accessible Luxury
Richemont delivered stunning holiday quarter performance with luxury jewelry sales up 14%, while Signet reported holiday accessible/mass-market jewelry sales down 2%.
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Wall Street stocks rally loses steam
Asian markets extended a global rally Thursday after below-forecast US inflation provided a much-needed shot of relief to investors and revived hopes for interest rate cuts this year.The inflation figures tempered worries that the Federal Reserve might not cut rates this year -- or possibly even hike them -- following a blockbuster jobs report on Friday.
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Stock markets jump as inflation worries ease
Global equities mostly pushed higher on Thursday as strong earnings and inflation data reassured investors. US equities had rallied on Wednesday thanks to strong bank earnings and inflation data that provided a much-needed shot of relief to investors,
Cartier owner Richemont’s sales surge fuels hopes of luxury turnaround
Richemont , the owner of Cartier jewellery, on Thursday fuelled hopes of a revival for the beaten down luxury goods industry, with end-of-year sales that exceeded expectations, sending shares higher across the sector.