Before Yoox Net-A-Porter Trading in 3Q & for the nine-month period ended 31 December 2024, Richemont
Group; that hold four Jewellery Maisons – Buccellati, Cartier, Van Cleef & Arpels and Vhernier & in addition, Richemont operates Net-A-Porter, Mr Porter, The Outnet, Yoox and the OFS division, reported highlights are,
1: Marked improvement over H1 across all business areas, driven by an acceleration at Jewellery Maisons to +14%; Specialist Watchmakers at -8%, ‘Other’ at +11%, including Fashion & Accessories Maisons at +7%.
2: Channel performance led by retail, up 11% at constant and actual exchange rates,
3: 9-month sales at € 16.2 billion, +4% at constant and +3% at actual exchange rates, in a context of continued investments into the Group’s Maisons’ long-term growth prospects,
4: Sales over the nine-month period to December 2024 increased by 4% at constant and by 3% at actual exchange rates.
5: Robust net cash position at € 7.9 billion.
The Group’s net cash position at 31 December 2024 rose to € 7.9 billion (2023: € 6.8 billion). It excludes Yoox Net-A-Porter (YNAP)’s net cash position of € 0.2 billion since the assets and liabilities of YNAP are classified as ‘Assets of disposal group held for sale’ and ‘Liabilities of disposal group held for sale’, respectively.
YNAP, which is presented as ‘discontinued operations’, recorded a sales reduction of 15% at constant exchange rates (-14% at actual exchange rates) for the three months ended December 2024 and declined by 15% at both constant and actual exchange rates for the nine months ended December 2024.
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