J.P. Morgan placed Richemont on Positive Catalyst Watch ahead of FY26 results, citing a 12% YTD stock decline as an attractive entry point.
The broker expects Richemont’s jewellery maisons to deliver about 11% YoY sales growth while FY26 EBIT margin may compress by 110 basis points.
European luxury Q1 2026 organic growth is projected around 3% YoY, with jewellery outpacing fashion and leather goods amid Middle East disruptions.
Peers such as Brunello Cucinelli (+15% retail sales) and Zegna (+11%) are forecast to grow, while Hugo Boss (-8%) and Pandora (-1.6% LFL) lag.