Annabel Gleeson's questions to COMPAGNIE FINANCIERE RICHEMONT AG /FI (CFRUY) leadership • Q2 2016
Question
Annabel Gleeson requested color on watch sales by nationality and asked about the impact of high jewelry sales on the volatility of the retail channel's performance.
Answer
CFO Gary Saage acknowledged that high jewelry's large transaction sizes can create volatility but stated it was not the specific reason for October's flat performance. He declined to provide a detailed breakdown of sales by nationality but confirmed an increase in American tourists in Europe. He emphasized that the key positive indicator is that watches are growing within Richemont's own retail network, where they have direct consumer visibility.