Richemont Reports 24% Surge In Sales

Compagnie Financiere Richemont SA CFRUY reported a 24% rise in sales in the Christmas shopping season. Richemont's sales for the three months to the end of December surged to 2.62 billion euros, versus EUR2.11 billion, in the year-ago period. However, analysts were expecting sales of EUR2.58 billion. Richemont shares closed at $5.25 on Friday.