The course increase in Thursday's initial trading is the largest for Richemont shares in over two years.
Richemont's sales during the last quarter of last year increased by 10 percent, with increases in both Europe and North and South America. This was a significantly larger increase than the average forecast among analysts before the report, which was 1 percent.
There was a decline in sales in Asia, down 7 percent in the quarter, but it was not as bad as the market had feared – although the figure included a sales decline of 18 percent in China.
The report comes after luxury companies like LVMH and Kering, among others owner of Gucci, have had a tough time lately. But even those shares get a boost from Richemont's strong quarterly report.
LVMH goes up 8.6 percent in the initial trading, while Kering rises 9.6 percent. Kering gets an extra little boost upwards after news of the sale of properties in Paris for billions of kronor.
Hermès, Moncler, and Burberry also rise significantly, up 6-8 percent.
Richemont also owns luxury brands such as Vacheron Constantin, Piaget, Jaeger-LeCoultre, IWC Schaffhausen, Lange & Soehne, Panerai, Chloé, and Montblanc.
