Swatch sees strong pick-up in sales in Jan, Feb
February 14, 2010 – Swatch Group, the world’s largest watchmaker by sales, has posted a 9 percent drop in 2009 net profit to 763 million Swiss francs ($710 million), ahead of expectations, and noted a strong pick-up in sales in January and February.
The upbeat outlook from Swatch, which has brands including Omega and Longines, follows a series of positive comments from other luxury goods makers, including Richemont, Hermes and LVMH.
Swatch Group’s operating margin fell to 17.6 percent from the 21.2 percent reported a year ago, but profitability picked up in the second half of 2009.
Swatch Group’s sales had grown in many regions in 2009, notably in Asia.