Swatch Hoping for Record Year



Swatch’s watch and jewelry sales grew 16.7 percent in the first half of 2012, and now the company thinks it is looking at a record year.

“The group clearly sees more opportunities than risks for the future, despite some negative trends such as in the exchange rate and Euro situation and a certain weakening in the high-end segment in parts of greater China,” a company statement said.

Its goal, added the company, is to achieve a record $8 billion in sales for the year.

Among the highlights of Swatch’s operating results for the first six months of 2012:

  • Gross sales: Up 14.4%, to $3.87 billion.
  • Watch and jewelry sales: $3.42 billion
  • Operating profit: Up 19.4% to $909 million
  • Net income: Up 25%, to $729 million.

 

See Swatch’s full financial statement.