Gilets Jaunes Are a Bad Look for Bling

While the U.K.'s stores are struggling with weak consumer confidence ahead of the divorce, the French have been put off from going to the shops by the yellow vest protests. Cie Financiere Richemont SA said on Friday that its sales in Europe in the third quarter were hurt by the demonstrations in France, which led to store closures for six consecutive Saturdays. Rogerio Fujimori, analyst at RBC Capital Markets, says that on average European luxury goods groups derive about 6-7 percent of their sales from France.

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