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Luxury shares tumble as Richemont posts sales decline

Swiss luxury conglomerate Richemont, owner of such brands as Cartier, Chloe, and Alaïa, experienced a sharp 6 percent drop in its share value this week, after announcing weaker-than-anticipated earnings. The company reported quarterly sales of 2.2 billion euros, falling short of analysts' projections of 2.45 billion euros, with profits marking a...

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