Swatch Gets a Sales Bounce With a Margin Bruise
Swatch Group reported stronger first-half sales of CHF 3.12 billion, up 8.5% at constant exchange rates, driven by improved demand across its watch brands and the successful Royal Pop pocket watch collaboration with Audemars Piguet. However, operating profit fell sharply to CHF 52 million, well below forecasts of CHF 120 million, due to negative currency effects from the strong Swiss franc and costs from maintaining production capacity and jobs. Net income was only CHF 16 million, roughly flat year-over-year. Shares fell more than 3% after the update. The article highlights that while Swatch has regained sales momentum after two difficult years, profitability remains under pressure, and one viral product cannot fix the entire group's challenges.
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