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Swatch Group reported stronger first-half sales as demand improved across its watch brands and shoppers lined up for its Royal Pop pocket watch collaboration with Audemars Piguet. Sales rose 8.5% at constant exchange rates to CHF 3.12 billion (about $3.8 billion), helped by a sharp acceleration in May and June. But operating profit fell to CHF 52 million, badly missing expectations, as currency effects and production costs weighed. The watches are moving again. The margins, less so.
Swatch Group, owner of Omega, Longines, Tissot, Breguet and Swatch, reported first-half net sales of CHF 3.12 billion. At constant exchange rates, sales rose 8.5% from a year earlier. On a reported basis, growth was much weaker because the strong Swiss franc dragged on results.
The company said sales momentum improved sharply in the second quarter, especially in May and June. Demand was helped by strength across price segments and regions, including the US, Europe, ***** an, South Korea and China.
A major highlight was the Royal Pop, a pocket watch made with Audemars Piguet. The launch triggered long lines in cities including New York, London, Barcelona and Dubai, with demand so strong that Swatch had to close some stores and limit queues.
#swatch #sales #reported
Swatch Group reported stronger first-half sales as demand improved across its watch brands and shoppers lined up for its Royal Pop pocket watch collaboration with Audemars Piguet. Sales rose 8.5% at constant exchange rates to CHF 3.12 billion (about $3.8 billion), helped by a sharp acceleration in May and June. But operating profit fell to CHF 52 million, badly missing expectations, as currency effects and production costs weighed. The watches are moving again. The margins, less so.
Swatch Group, owner of Omega, Longines, Tissot, Breguet and Swatch, reported first-half net sales of CHF 3.12 billion. At constant exchange rates, sales rose 8.5% from a year earlier. On a reported basis, growth was much weaker because the strong Swiss franc dragged on results.
The company said sales momentum improved sharply in the second quarter, especially in May and June. Demand was helped by strength across price segments and regions, including the US, Europe, ***** an, South Korea and China.
A major highlight was the Royal Pop, a pocket watch made with Audemars Piguet. The launch triggered long lines in cities including New York, London, Barcelona and Dubai, with demand so strong that Swatch had to close some stores and limit queues.
#swatch #sales #reported
9 days ago
