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BRIEF-Richemont CFO says stock levels at watch retailers still too high
November 10, 2017 / 7:48 AM / 10 days ago

BRIEF-Richemont CFO says stock levels at watch retailers still too high

Nov 10 (Reuters) - Richemont Sa Cfo

* Says now has management structure in place to meet challenges‍​

* Says inventories at trade partners are still higher than we’d like them to be

* Says watch sales through wholesale network flat in h1 without impact of inventory buyback

* Says double-digit growth rates in jewellery have held up in recent months

* Says currently has 7.5 percent stake in dufry, no plans to increase it

* Says currently no plans to further reduce manufacturing capacity Further company coverage: (Reporting by Silke Koltrowitz)

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