Sales rise 10 during quarter, beating forecasts
Analysts say results could point to end of luxury dip
Shares jump 14 in early morning trade

ZURICH, Jan 16 Reuters Richemont, the owner of Cartier jewellery, on Thursday fuelled hopes of a revival for the beaten down luxury goods industry, with endofyear sales that exceeded expectations, sending shares higher across the sector.

The company39;s robust performance over the allimportant holiday season was seen as a signal that luxury sales may have turned a corner, even if Richemont mostly operates at the very high end of the market.

The Swiss company39;s sales jumped 10 yearonyear to 6.2 billion euros 6.37 billion for the three months to endDecember, well ahead of analyst expectations for a 1 increase.

Shares in Richemont, which also owns Swiss watch brands Piaget, IWC and JaegerLeCoultre, rose 14.

Rivals LVMH and Kering also got a boost, with both up more than 7. Swatch was up as much as 10.

Bernstein analyst Luca Solca described Richemont39;s sales as an encouraging sign and a confirmation…that the previous quarter may have been a trough.

The industry is grappling with its lowest sales growth in years as shoppers, beaten down by economic uncertainty and high prices, have cut back on discretionary spending.

The gap between stronger and weaker players has been widening, with groups catering to the very highend, like Hermes, outperforming those with a less wealthy customer base, such as Burberry.

Richemont had…