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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.