Richemont sales unexpectedly jumped by a double-digit percentage during the holiday shopping season as consumers splurged on Cartier jewelry, lifting shares across the luxury-goods sector on hopes of a rebound.

The struggling European luxury-goods sector roared to life Thursday after Richemont reported its highest-ever quarterly sales as it blew by analyst estimates.

Richemont , the owner of Cartier jewellery, on Thursday fuelled hopes of a revival for the beaten down luxury goods industry, with end-of-year sales that exceeded expectations, sending shares higher across the sector.

Richemont reported strong quarterly results, driven by festival sales, despite ongoing weak demand in China. The robust earnings lifted rival share prices, buoying the European luxury sector on Thursday.

Richemont reported better-than-expected sales for its fiscal third quarter, in the midst of a downward trend in demand for luxury goods that is weighing on most high-end brands.

European luxury shares soared on Thursday as Cartier owner Richemont's third-quarter sales beat revived optimism for the battered sector.

European luxury stocks surged after Richemont, the company behind Cartier, Piaget and Van Cleef & Arpels, reported a "very solid end" to 2024, with quarterly sales surging to a record. Shares in Dior,

Richemont sales unexpectedly jumped by double digits during the holiday shopping season as consumers splurged on Cartier jewelry, a sign of recovering demand for luxury goods.

Richemont, the owner of Cartier jewellery, beat market expectations for third-quarter sales on Thursday, fuelling hopes that the luxury sector could be coming out of its recent downturn. The Swiss company's sales jumped 10% year-on-year to 6.

Richemont reported better-than-expected quarterly sales, triggering a rally in luxury stocks, after its core jewelry division bucked a downturn in demand for high-end goods.