Swatch — the parent of Longines, Omega, and Tissot — is seeing sales slump, and it's because of China
Watch group Swatch saw its sales decline by more than 12% and its profits by 75% in 2024.
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Swatch profit falls on weak China demand
ZURICH ― Shares in Swiss watchmaker Swatch slumped on Thursday after it reported lower-than-expected earnings on the back of weak sales in China.
Swatch’s profit fell 75 per cent on double-digit sales decline
Swatch’s profit dipped more than 75 per cent while its sales decreased more than 12 per cent in FY24. The company’s net sales fell to CHF6.7 billion ($7.3 billion) for the year. Its operating profit ...
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The Swatch Stock: Profit Plunges 75% Amid China Slowdown
The Swiss watchmaker Swatch Group experienced a severe downturn in fiscal year 2024, with net profit plummeting by approximately 75% to 219 million Swiss francs. This dramatic decline prompted the ...
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