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Compagnie Financiere Richemont SA (CFRJ.J)

CFRJ.J on Johannesburg Stock Exchange

12,010.00ZAc
13 Dec 2017
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-107.00 (-0.88%)
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Latest Key Developments (Source: Significant Developments)

Richemont CFO says stock levels at watch retailers still too high
Friday, 10 Nov 2017 

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.  Full Article

Richemont says Chloe on its way to replicate Van Cleef success
Friday, 4 Nov 2016 

Richemont : Chairman says no acquisition and "definitely no sale in mind" .Richemont says Chloe is on its way to replicate success of Van Cleef & Arpels.  Full Article

Richemont CEO says no further job cuts in Switzerland planned
Friday, 20 May 2016 

Richemont : Ceo says destocking at partners might go on for a few months . Ceo says might close some stores in hong kong or relocate them . Cfo says group wants to increase dividend in good times and bad .Ceo says does not foresee further reduction of workforce in switzerland.  Full Article

Compagnie Financiere Richemont SA plans to cut 300 Swiss jobs -24 heures - Reuters News
Friday, 18 Mar 2016 

Compagnie Financiere Richemont SA:Swiss luxury group Richemont plans to cut 300 jobs in Switzerland, Swiss newspaper 24 heures reported on Friday without citing sources -RTRS.Around 170 job could be cut at its Cartier business and almost 120 at its Piaget and Vacheron Constantin businesses, the paper said.Richemont was not immediately available for comment on the story. Last month, Richemont confirmed a report that it could cut up to 350 Swiss jobs.  Full Article

Compagnie Financiere Richemont SA - Richemont mulls 350 Swiss job cuts - Le Temps - Reuters
Friday, 19 Feb 2016 

Compagnie Financiere Richemont SA:Richemont is considering cutting up to 350 jobs in Switzerland given tough market conditions and the Swiss franc's strength that has weighed on tourist visits, newspaper Le Temps reported, citing an internal memo it said it had obtained. - RTRS.Richemont said last month business was likely to remain challenging after sales fell 4 percent in the final three months of 2015, with the Hong Kong market remaining weak and Islamist attacks hitting tourist spending in Europe.Le Temps said a Richemont spokesperson had confirmed the information without elaborating. The paper said it would seek to avoid layoffs by moving staff to other sites.  Full Article

REFILE-UPDATE 1-Luxury brands boosted by court ruling for online sales ban

LUXEMBOURG, Dec 6 Coty and other luxury brand owners scored an important victory on Wednesday in their bid to prevent retailers selling their products on online platforms such as Amazon and eBay after Europe's top court said they have the right to do so to preserve their image.