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Richemont first-quarter sales nearly halve after COVID-19 disruption

Reuters
FILE PHOTO: Visitors on the A. Lange & Soehne stand during the opening day of the SIHH fair in Geneva

ZURICH (Reuters) - Luxury goods group Richemont <CFR.S> said it had seen "unprecedented levels of disruption" from the COVID-19 pandemic in the three months to June 30, leading its sales to almost halve, but most stores had reopened since.

Sales fell 47% to 1.99 billion euros (£1.81 billion) in the group's first quarter, the maker of Cartier jewellery and IWC watches said in a statement on Thursday, a similar decline to peer Swatch Group <UHR.S>.

(Reporting by Silke Koltrowitz; Editing by Michael Shields)