Cartier owner Richemont’s profit miss, China caution hit luxury shares – ET Retail
Representative image Cartier owner Richemont missed first half profit forecasts and remained cautious about a recovery in China on Friday, sparking a sell-off in European luxury stocks. Richemont shares were down 4.3% at 1318 GMT. Rivals LVMH and Swatch were 3% and 5.6% lower respectively after the update from the owner of Swiss watchmakers including…