Richemont warns of a challenging 2H but detects improvement in mainland China
Richemont, owner of Cartier and Swatch, has warned of a challenging second half due to poor sales of luxury watches in Hong Kong and Macau; Hong Kong has suffered from political uncertainty and falling numbers visiting  from mainland China, whilst Macau has been hit by anti-corruption efforts.  However, Richemont has detected an improvement in mainland China, where it appears that growth has returned in October with a reported 1% rise.

ZURICH--Cie. Financiere Richemont SA (CFR.VX) Friday said its sales to China had improved by 1% in the six months to Sept. 30, signifying a partial recovery in one of the world's largest markets for luxury goods.

"Mainland China is back to growth," Chief Financial Officer Gary Saage said in a conference call. "The 1% increase masks a double digit growth in retail sales."