Richemont posts 67% drop in annual profit as coronavirus hits luxury sector
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ZURICH (Reuters) - Richemont is seeing strong demand in China but globally expects "headwinds in the months ahead" due to the new coronavirus, the owner of Cartier jewellery said on Friday as it reported annual profit falling by two thirds.The world's second-biggest luxury group said net profit for the year to the end of March fell 67% to 931 million euros ($1.01 billion), missing the 1.29 billion euros expected by analysts. Sales rose 2% to 14.238 billion euros, in line with estimates.The..