Richemont Posts 9% Rise In Holiday Sales

Compagnie Financiere Richemont SA CFRUY reported a 9% rise in its holiday sales in its fiscal third quarter. Richemont's quarterly revenue surged to 2.86 billion euros ($3.81 billion), from 2.62 billion euros, in the year-ago period. However, analysts were expecting revenue of 2.89 billion euros. Richemont's sales in the Asia-Pacific region climbed 6% to 1.12 billion euros, while sales in the Americas jumped 18%. Richemont shares closed at $8.38 on Friday.