Editor
Richemont shares declined after the Swiss luxury-goods maker reported an unexpected decline in sales from the Americas, raising concern over how weak the US market might get.
Revenue from the Americas fell 2% on a constant-currency basis in the three months through June, the Cartier owner said Monday as it reported an overall 19% gain in sales. The stock fell as much as 7.1%, the steepest intraday drop in a year.
The luxury-goods industry is…
