Richemont sales rise 16 percent as jewelry outpaces watches

Jewelry sales increased 18 percent at reported exchange rates, according to WWD. The specialist watch division grew 9 percent, as did the division that includes fashion and accessories houses.

Profit grew faster than sales: WWD puts operating profit at 3.1 billion euros, a 33 percent increase, and profit for the six-month period at 2.5 billion euros, up 39 percent.

At constant exchange rates, WWD reports sales growth of 17 percent for the half-year ended Sept. 30, with second-quarter growth at 13 percent. Sales in the Middle East and Africa fell 2 percent, according to WWD.