Luxury Market Goods Beating Forecasts
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In 2022, Champagne wishes and caviar dreams are coming true. Sales of expensive goods including diamonds, designer handbags, and watches soared over the holiday season, lifting profits for luxury brands, sales stats released Wednesday revealed.
Famous for its iconic plaid-lined trench coats, Burberry upgraded its profit forecast by about 25%, while at rival Richemont — owner of upmarket brands Cartier and Montblanc — revenue jumped 32%. Prada also turned in full-year receipts that were 3% ahead of expectations.
Source Fool.com
