Citychamp Watch & Jewellery Group (HKG:0256) expects a HK$250 million attributable loss for 2024, reversing from a HK$45.1 million profit a year earlier, according to a Wednesday filing on the Hong Kong Exchange.

The luxury watch and jewelry maker attributed the loss to a goodwill impairment, inventory provisions, and weak consumer sentiment, which led to more cautious spending.

The impairment and inventory provisions are non-cash, non-recurring items.