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Richemont: Sale Of Lancel, Dunhill Not An Option >CFR.VX ($$) 

Jump to full article: The Wall Street Journal Interactive Edition, 2006-06-08
Author: Martin Gelnar, Dow Jones Newswires

Intro:

Switzerland-based luxury goods maker Compagnie Financiere Richemont S.A. (CFR.VX) Thursday said a sale of its underperforming Lancel and Alfred Dunhill brands isn't an option.

"We are committed to turning around those businesses," Chief Financial Officer Richard Lepeu said in a conference call for the media. . . .

Earlier Thursday, Richemont said its net profit for the fiscal year ended March 31 fell to EUR1.09 billion from a restated EUR1.21 billion in the year-ago period due to extraordinary gains generated by British American Tobacco PLC (BTI), in which Richemont has a minority stake.

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