Must read: Richemont sparkles, B&M disappoints
ii’s head of investment rounds up the morning’s big news.
15th July 2026 09:06
by Victoria Scholar from interactive investor
Model wearing jewels by Van Cleef & Arpels, one of Richemont’s jewellery houses, in New York. Photo: Neilson Barnard/Getty Images for Van Cleef & Arpels.
Richemont
Richemont reported a 20% surge in first-quarter sales, hitting 6.33 billion euros, flying past analysts’ expectations for less than 6 billion euros, sending shares soaring.
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Jewellery outperformed with sales up 24% to 4.73 billion euros, representing the seventh quarter of double-digit growth, driven by strong demand at Van Cleef & Arpels. Watches also performed well with sales up 8%. Regionally, sales in Americas and Asia were particularly strong thanks to the growing class of super rich high net worth individuals looking for ways to spend their money.
Richemont shares are rallying by over 5.5% this morning, lifting rivals like Lvmh Moet Hennessy Louis Vuitton SE (EURONEXT:MC), Kering SA (EURONEXT:KER) and Burberry Group (LSE:BRBY) with it. However, Richemont appears to be solidifying its position as a popular top pick in the sector thanks to its strong brands like Cartier and Van Cleef that are proving their resilience even as fashions and consumer preferences change.
B&M
B&M European Value Retail (LSE:BME) reported 2% growth in Q1 FY27 group revenue with a good performance in B&M France supported by strong sales and higher customer footfall, despite stiff competition. However, shares in B&M have fallen by nearly 4%, with investors focusing on its disappointing performance in the UK amid a decline in like-for-like sales driven by weak garden sales and tough year-on-year comparables.
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B&M has been in the midst of a turnaround plan to improve its products and pricing since late last year amid a challenging period for the retailer that has been dealing with a number of profit warnings and an accounting issue last October.
In the full year, B&M reported pre-tax profit down 47% last month and flat UK sales. Shares are down 16% over the past year but the stock has been recovering off the May lows, rebounding from around 157p to around 195p.
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