<\/p>\n
By Avi Krawitz
\n RAPAPORT… Swatch Group posted a decline in sales in the second half of 2008, but said it expects to see some modest growth through 2009. According to Rapaport calculations (see table below), group net sales in the second half fell 6.3 percent to CHF 2.853 billion ($2.469 billion), while gross watch and jewelry sales declined 5.6 percent to CHF 2.451 billion ($2.122 billion). The company did not provide separate half-year sales figures in its full-year report published Thursday. <\/p>\n
\u201cA noticeable drop in demand in the last months of 2008 mainly at [the] wholesale level reduced the momentum in most brands and markets,\u201d the watchmaker explained in the report. Swatch\u2019s full-year results were more encouraging, as the company posted a 0.5 percent rise in net sales to CHF 5.677 billion ($4.908 billion). Its watch and jewelry segment saw gross sales increase 1.8 percent for the year to CHF 4.796 billion ($4.151 billion). Swatch said it was focusing on expanding its retail segment as it continued to outperform its wholesale activities.<\/p>\n
Sales growth in the watch and jewelry segment was most profound in China and the Middle East, where Swatch posted double-digit increases. Sales in Europe and the U.S. showed more modest growth, “with recession fears starting to weigh on consumer confidence in several countries and markets towards the end of 2008,” the company explained.<\/p>\n
Swatch offered a \u201ccautious but not pessimistic\u201d outlook for the next few months in light of to the ongoing financial turmoil, but stressed it did not expect a disastrous quarter. \u201cA decrease in the first three to four months compared to the very high previous year figures indicates a rather manageable recession,\u201d Swatch stated. \u201cA mild increase in consumption and sales for 2009 is expected, because of an anticipated rebound in the second half of 2009.\u201d<\/p>\n
Swatch Group Sales Report<\/p>\n
\tAll figures in Swiss Francs (millions)\tTotal Net Sales\t \t\t \tWatches & Jewelry Gross Sales
\n2008\t2007\t% Change\t \t \t2008\t2007\t% Change
\n \tFull Year\t5,677\t5,646\t0.5%\t \t \t4,796 \t4,710\t1.8%
\n \tFirst Half\t2,824\t2,601\t8.6%\t \t \t2,345\t2,113\t11.0%<\/p>\n
\tSecond Half\t2,853\t3,045\t-6.3%\t \t \t2,451 \t2,597 \t-5.6%<\/p>\n
\tFirst-half sales as presented in the company\u2019s report dated August 15, 2008.<\/p>\n
NC
\nRAPAPORT
\nInformation that means Business<\/p>\n
Source: www.diamonds.net\/news<\/p>\n","protected":false},"excerpt":{"rendered":"
By Avi Krawitz RAPAPORT… Swatch Group posted a decline in sales in the second half of 2008, but said it expects to see some modest growth through 2009. According to Rapaport calculations (see table below), group net sales in the second half fell 6.3 percent to CHF 2.853 billion ($2.469 billion), while gross watch and […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[411],"tags":[],"yoast_head":"\n