1011 GMT - Swiss watch exports will remain flat in 2025, Vontobel analyst Jean-Philippe Bertschy said in a note. According to the Federation of the Swiss Watch Industry, total exports of Swiss watches in November reached 2.41 billion Swiss francs in value, 3.8% lower compared with the same month last year and following the downward trend of the previous months. "The coming months will present significant challenges for the watch industry," he says. The outlook for Swatch Group is a cause of concern, particularly in relation to the negative operating leverage, while Richemont looks set to manage current woes, helped by its exposure to jewelry and the wealthiest consumers, he adds. Shares in Richemont are down 2.2% at 134.05 Swiss francs, while Swatch trades 1.3% lower at 159.05 Swiss francs. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
December 19, 2024 05:12 ET (10:12 GMT)
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