Switzerland's Richemont FY26 sales slightly beat on Jewellery Maison strength

COMPAGNIE FINANCIERE RICHEMONT SA

22/05/2026 06:39

Overview

Switzerland luxury goods group's FY26 sales rose 5%, slightly beating analyst expectations

Operating profit for FY26 missed analyst estimates, affected by currency and raw material costs

Company proposed ordinary and special dividends, citing strong net cash position

Outlook

Richemont says uncertainty likely to persist, especially regarding developments in the Middle East

Company says it will remain vigilant and rely on long-term orientation and disciplined approach

Result Drivers

JEWELLERY MAISON STRENGTH - Jewellery Maisons drove growth, with sales up 8% (14% at constant rates) and further market share gains, supported by strong demand and selective price increases to offset higher gold prices and currency headwinds

CURRENCY AND RAW MATERIAL COSTS - Weaker main trading currencies and higher raw material costs weighed on gross margin and operating profit, partly offset by cost discipline

REGIONAL AND CHANNEL DIVERSIFICATION - Growth was broad-based across regions and distribution channels, with double-digit sales growth in the Americas and retail channel at constant rates

Company press release: ID:nGNE3N3zt5

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY Sales
Slight Beat*
EUR 22.42 bln
EUR 22.38 bln (24 Analysts)
FY Net Income
EUR 3.48 bln
FY Gross Margin
64.40%
FY Operating Profit
Miss
EUR 4.49 bln
EUR 4.57 bln (24 Analysts)
FY Gross Profit
EUR 14.44 bln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 19 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the apparel & accessories peer group is "buy"

Wall Street's median 12-month price target for Compagnie Financiere Richemont SA is CHF182.22, about 16.3% above its May 21 closing price of CHF156.65

The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 23 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)