currency effects suggest luxury group Richemont

From April to August , Richemont saw sales increase by only four percent in real exchange rates and nine per cent at constant exchange rates ,miu miu online the company said in a statement released on Thursday . These figures were at the lower end of what analysts surveyed by financial agency AWP had expected , with forecasts from three to nine percent growth at constant exchange rates and between eight and 12 percent in local currencies. After the announcement that was made ​​in advance of the Annual General Meeting of Richemont, the company has seen its share price decline of 3.58 percent to 90.10 francs per lunch in trading in the comparison, a decrease of only 0.28 percent for the main index of the Swiss Stock Exchange . The second largest group of the world's luxury goods , Cartier , Piaget, Jaeger- LeCoultre and Montblanc brands, has, among other things , is very sensitive to variations and was particularly affected by changes in the yen and dollar values ​​taken against the euro . In Japan, for example , Richemont saw its turnover rose by 17 percent in local currency, but fall eight per cent in euros . In the Asia - Pacific region , the company generated sales slowed considerably in the meantime , climbing only one percent compared to the same period last year. miu miu crossbody Sales were strong in Hong Kong and Macau balanced decided by lower sales in the People's Republic of China " , mainly because of the cautious consumer sentiment after several years of exceptional growth ," Richemont said. In Europe and the Middle East, sales remained strong, driven by a steady stream of visitors to major tourist destinations, while growth in the Americas region rose amid strong demand for jewelry, he said. In all regions , jewelery brands now Richemont saw a sharp slowdown in sales growth of only 2.0 percent , compared to 23 percent last year. Observers. Meanwhile welcomed nine percent of the increase in corporate value in the sale of watches in real exchange rates . It was a " pleasant surprise ," said Sarasin analyst Patrick J. Safra Hasenboehler and notes that it is " well above " the overall increase of 1.1 percent in Swiss watch exports in the first seven months of the year. buy miu miu bag Richemont expects its interim results on 8 Release of November.