Richemont Shares Rise on 9% Q4 Upside

Bernstein predicts Richemont's FY26 Q4 sales could exceed consensus 9% CER growth, especially in Japan.
Tokyo department store jewellery sales rose 22% YoY in Q1 2026, supporting Bernstein's higher Japan growth outlook.
Bernstein rates Richemont "outperform" with CHF 200 price target and forecasts 2026 adjusted EPS €6.12 (28.2x P/E).
Europe model suggests upside to consensus ~8% CER growth; French sales would need ~15% decline to match consensus.