1111 GMT - The watch sector remains in a very difficult situation, but exports of Swiss timepieces could see a flat positive increase in 2025, Vontobel analyst Jean-Philippe Bertschy says in a note. The Federation of the Swiss Watch Industry said that Swiss watch exports dropped 5.4% in December, resulting in a total value of 2.0 billion Swiss francs. All of the top four export destinations, including China and the U.S., recorded declines. The U.S. market is concentrating all the growth hopes, while China remains very fragile and uncertain, he says. The analyst doesn't expect a strong recovery in China this year. Vontobel maintains a hold rating for both Swiss watchmakers Richemont and Swatch Group. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
January 30, 2025 06:11 ET (11:11 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。