News

Richemont’s leather and textile sales down 12%

12/09/2003

The leather and textile division of the Swiss luxury goods group, Richemont, suffered a 12% decline in group sales in constant currency terms in the five months ended August 31 2003, the company has advised.

 

Total revenues fell 7% at constant exchange rates while sales in the three month period June-August grew 1%. A massive 19% sales slump was seen during April and May. Richemont cites the impact of SARS and the war in Iraq.

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