Swatch Might Face Another Challenging Year Due to Uncertainties in China -- Market Talk

Dow Jones02-22

1234 GMT - Swatch's softer-than-expected recovery in China could continue to weigh on its results, AlphaValue analyst Jie Zhang writes in a research note. The Swiss watchmaker, as well as other names in the luxury industry, is facing volatility in the country, one of the largest markets for the sector. "We believe that the uncertain consumption pattern in China due to the challenging macro-economic climate and unpredictable political direction will continue to result in another challenging year for the group," AlphaValue says. The analyst anticipates better earnings stability at LVMH and Richemont. "Only brands with unshakable desirability and secured by exclusive wealthier clientele would be more resilient," she says. Shares are up 0.5% at CHF213.60. (andrea.figueras@wsj.com)

(END) Dow Jones Newswires

February 22, 2024 07:34 ET (12:34 GMT)

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