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Richemont shares fall over 6%

Jan 21 2013 11:12 Reuters
Rand notes

(Picture: Shutterstock )

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Johannesburg - Shares of Richemont [JSE:CFR] fell more than 6% after the luxury goods retailer reported disappointing third-quarter sales figures and said the near-term outlook for its Asia-Pacific business was unclear.

Sales in the three months to the end December failed to meet expectations, rising 5% at constant exchange rates and 9% at actual rates.

Richemont shares were trading 6.7% lower at R70.35, compared with a 0.7% fall in the JSE Top 40 - (Tradeable) [JSE:J200] blue-chip index.      

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