While reporting a 16% plunge in five-month sales, luxury goods maker Compagnie Financiere Richemont SA, on Wednesday, met forecasts and specified it is careful in spite of the indications of slowdown in the fall of its demands.

As per Chairman Johann Rupert, "We would prefer to wait until we have more evidence of a broader economic recovery before speculating on the likelihood of a better second half, particularly when it comes to the wholesale business."