Richemont’s Sales Soar 10% | BoF

Richemont sales unexpectedly jumped by double digits during the holiday shopping season as consumers splurged on Cartier jewellery, a tentative sign that demand for luxury goods may be recovering.

Sales soared 10 percent during the three months through December at constant exchange rates, Richemont said Thursday. Analysts had expected a gain of less than 1 percent. The Americas and Europe drove the performance, with purchases of expensive jewellery offsetting weak watch sales, which have…