Shares of Cartier owner Richemont climb 6% on record full-year sales, new CEO

Group 1 - The core viewpoint is that Richemont reported record full-year sales of 20.6 billion euros ($22.38 billion), marking a 3% increase at actual exchange rates, despite a decline in spending in the Asia-Pacific region [1][2] - Shares of Richemont rose by as much as 6.3% following the sales report, although they dipped slightly after market open to trade up 5.6% by 9:00 a.m. London time [1][2] - Fiscal fourth-quarter sales decreased by 1% to 4.8 billion euros at actual rates, attributed to a slowdown in the Asia-Pacific market [2] Group 2 - Chairman Johann Rupert noted that the company experienced a softening of sales in the Asia-Pacific region during the fourth quarter, which was offset by higher growth in other regions [2] - The company announced Nicolas Bos, CEO of Van Cleef & Arpels, as the new group CEO, effective June 1 [3]