Richemont profit and sales jump, discussions about YNAP continue

div classBodysc17zpet90 cdBBJodivpZURICH Reuters – Luxury goods group Richemont said on Friday discussions about its “Luxury New Retail” partnership should be concluded “in the near future”, after strong American demand for its jewellery and watches boosted net profit and sales in the 12 months to March.p

pNet profit rose 61 to 2.079 billion euros 2.20 billion, versus an average estimate of 2.745 billion in a Refinitiv poll, while sales when measured in constant currencies jumped 44 to 19.181 billion euros, ahead of an 18.778 billion estimate.pdivdivdiv classBodysc17zpet90 cdBBJodiv

p“Discussion with our Luxury New Retail ‘LNR’ partners continues around closer future collaboration. There is considerable complexity, which means the process is inevitably protracted. We look forward to concluding matters in the near future,” Richemont said in a statement, referring to its plans to relinquish control of online retailer YOOX NetaPorter YNAP.p

p1 0.9451 euros