1233 GMT - Swiss watch exports in February mirror a volatile recovery in the U.S., Bernstein analysts write in a research note. Total exports of Swiss timepieces plunged 8.2% in February, with those to the U.S. falling 6.7%. The sudden weakness in the U.S. was unexpected, which likely reflects the uncertain trade environment as well as price increases, Bernstein says. "The luxury watch industry continues to normalize from its post-pandemic binge," the analysts say. This period of slowdown will be longer than for most other categories in the luxury space, as watches are a less frequent purchase, they add. Shares in Richemont fall 3.6%. Swatch Group and Watches of Switzerland trade 3.7% and 2.6% lower, respectively. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
March 20, 2025 08:33 ET (12:33 GMT)
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