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Online Share Trading

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RICHEMONT down?

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Contributor
Anyone know why is there a dip today?
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12 REPLIES 12
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Super Contributor
latest sales report negative.
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Valued Contributor
that was a month ago, market long since moved on
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Super Contributor
Well, based on the low earnings estimates for 2014 /2015 in the FORECASTS I would be selling today - but then as they can't even spell the company name correctly should one even be looking at these? More importantly which planet does this forecast come from? And then while you are about it - perhaps ask who threw the dart for the virtually non- existent earnings estimates. (OST comms is so restricted in terms of World coverage of comopnaies like CFR it beggars belief and leaves much to be desired.... EG their store leases on 5th avenue some time back....)
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Occasional Contributor
LVMH Reported bad earnings today
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Super Contributor
Reported that China rooting out corruption....so no watches for bribing ministers....
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Regular Contributor
The Economist over the last few months has been warning about sales of luxury goods in China - Not so much a downturn as a slight change in trends.....
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Super Contributor
Luxury goods remain a cyclical business and Richmont is not cheap for a business of this nature.
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Not applicable
Louis Vitton came out today with bad results which is also luxury goods, could be that...

Could also be just that CFR is a tool for hedge funds to be invested in the market and the price actually has very little to do with the company. ;)
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Super Contributor
Look I love the Economist but one should remember they don't always call things correctly - remember "Africa the hopeless continent"? I'm sure you are aware that the Chinese culture of gift giving - ditto the Japanese = which escalates with each gift - is a key here - not the number of corrupt "watchtakers"... The fact is that of course luxury is also subject to cycles -but it is less subject than other consumer goods. Still not clear who the dart throwers are ...
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Super Contributor
Prada is among a few premium brands reporting solid growth in the world's second largest luxury market even as a government campaign against conspicuous spending and gift-giving hurts firms with instantly recognisable brands like LVMH, Compagnie...
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Valued Contributor
is very top end luxury cyclical ??
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Super Contributor
I didnt mean their report. I mean recent reports generally on Asian sales and it's just talk. The rich are always with us.
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