SWITZERLAND: Luxury Giant Richemont Issues Profit Warning
Swiss luxury goods giant Compagnie Financiere Richemont SA on Thursday warned its full year operating profit may miss market expectations by as much as 40 per cent due a 50 million euro restructuring charge. The Zurich-based group, whose brands include Cartier, Piaget and Dunhill, said in a statement its plight was being compounded by the "depressed economic climate" and a "further decline in consumer confidence".
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