shares in compagnie financiere richemont sa fell sharply friday after it said fullyear profitability missed expectations and a planned divestment of its ecommerce platform yoox netaporter remained unresolved at 0740 gmt shares in the swiss luxurygoods giant traded 10 lower at chf1094 sales for the fiscal year ended march 31 rose 44 at constant currency to 1918 billion euros 2030 billion above consensus expectations however operating profit of eur339 billion on a margin of 177 was well below what had been forecast jefferies analysts flavio cereda and kathryn parker said a note operating expenses rose by 35 the company said also signaling a eur168 million hit to operating profit from the halting of activity in russia after the countrys invasion of ukraine earlier this year russia is probably weighing heavier here than at most other companies bernstein analysts said in a note the company said discussions over its struggling ynap business are continuing late last year richemont revealed that it was looking to divest itself of overall control of the platform and that it was in talks with ynap peer farfetch ltd and others over possible stake sales the talks are positive but complicated and involve various stakeholders finance chief burkhart grund said in a call friday after results were released britishportuguese company farfetch has previously said that the talks dont mean a deal is certain the lack of a resolution is a real surprise jefferiess mr cereda and ms parker said the sharp rise in operating expenses presumably relate to the ynap developments they said also the issue is increasingly affecting richemonts share performance bernstein said richemont is turning into an eventdriven stock dependent on the possible but increasingly unlikely divestiture of ynap they said until a deal is reached ynap will hang as a sword of damocles over the company jeanphilippe bertschy an analyst with vontobel said