Richemont outstripped expectations with a 10 percent jump in revenue during the key holiday quarter, offering hope that luxury's slump might be coming to an end.

Richemont , the owner of Cartier jewellery, on Thursday fuelled hopes of a revival for the beaten down luxury goods industry, with end-of-year sales that exceeded expectations, sending shares higher across the sector.

European luxury shares soared on Thursday as Cartier owner Richemont's third-quarter sales beat revived optimism for the battered sector. Francis Maguire reports. Could AI-assisted program help badminton players with training?

Richemont reported better-than-expected quarterly sales, triggering a rally in luxury stocks, after its core jewelry division bucked a downturn in demand for high-end goods.

Richemont, the owner of Cartier jewellery, beat market expectations for third-quarter sales on Thursday, fuelling hopes that the luxury sector could be coming out of its recent downturn. The Swiss company's sales jumped 10% year-on-year to 6.

Richemont sales unexpectedly jumped by double digits during the holiday shopping season as consumers splurged on Cartier jewelry, a sign of recovering demand for luxury goods.