Richemont (CFR) Q3 2026 TU earnings summary

Executive summary

• Q3 sales reached €6.4bn, up 11% at constant FX and 4% at actual FX, with robust growth across all regions and business segments.

• Jewellery Maisons led performance with a 14% sales increase, while Specialist Watchmakers rose 7% and Fashion & Accessories Maisons grew 3%.

• All regions delivered growth at constant rates, with double-digit increases in the Americas, Japan, and Middle East & Africa.

• Retail channel led growth, representing 72% of total sales and rising 12% at constant rates.

• Net cash position stood at €7.6bn at the end of December 2025, slightly down from €7.9bn the previous year.

Financial highlights

• Nine-month sales totaled €17.0bn, up 10% at constant rates and 5% at actual rates year-over-year.

• Q3 regional sales growth at constant rates: Americas +14%, Japan +17%, Middle East & Africa +20%, Europe +8%, Asia Pacific +6%.

• Q3 by channel: Retail +12%, Wholesale +9%, Online retail +5% at constant rates.

• Q3 by business area: Jewellery Maisons +14%, Specialist Watchmakers +7%, Other stable at €0.7bn.

• 9-month sales for Jewellery Maisons up 14%, Specialist Watchmakers and Other both up 1%.

Outlook and guidance

• Management highlights continued strong momentum and broad-based growth, but cautions that forward-looking statements are subject to risks including macroeconomic, geopolitical, and consumer trends.

• Continued investment in Maisons to support growth amid a complex macroeconomic environment with rising material costs and weaker trading currencies impacting margins.