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The Swatch Group AG (UHR.SW)

Swiss - Swiss Delayed Price. Currency in CHF
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260.00+8.60 (+3.42%)
At close: 5:31PM CEST
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  • Reuters

    Swatch says new lockdowns in Europe could jeopardise 2021 sales target

    New lockdowns in Europe recently and the absence of tourism might make it difficult for Swatch Group to get back to 2019 sales levels this year but the world's biggest watchmaker maintains that target for now, its chief executive said on Thursday. The owner of luxury brands including Omega, Tissot and Longines as well as its original Swatch watches made a net loss last year for the first time in decades, it reported in January, as sales fell 32% from 2019 due to shop closures during the pandemic and as smartwatches made inroads into the market. Sales are picking up this year, and the group said in January that there was a good chance it would reach 2019 sales levels this year, but new lockdowns in Europe now pose risks.