Decline in Swiss Watch Exports Doesn't Bode Well for Some Luxury Companies -- Market Talk

Dow Jones03-19

1007 GMT - Exports of Swiss watches fell in February following a period of slowing growth, which could be a negative signal for luxury companies, Citi analysts Thomas Chauvet and Lorenzo Bracco write in a research note. Total exports dropped 3.8% on year to CHF2.15 billion, with sharp downturns in mainland China and Hong Kong. "This could drive negative sentiment for Richemont, Swatch Group and the luxury sector," Citi says. Exports to Japan and the U.S. in February held up, while key European markets deteriorated sharply, they say. That said, hard luxury categories seem to be more resilient than in the past, which reflects the appeal of branded jewelry and a handful of top Swiss watch brands, Citi says. Shares in Richemont and Swatch trade 1.8% and 2.3% lower, respectively. (andrea.figueras@wsj.com)

(END) Dow Jones Newswires

March 19, 2024 06:08 ET (10:08 GMT)

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.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2420245608?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-03-19 18:08","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2420245608","market":"sh","top_or_hot":-1,"title":"Decline in Swiss Watch Exports Doesn't Bode Well for Some Luxury Companies -- Market Talk","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     1007 GMT - Exports of Swiss watches fell in February following a period of slowing growth, which could be a negative signal for luxury companies, Citi analysts Thomas Chauvet and Lorenzo Bracco write in a research note. Total exports dropped 3.8% on year to CHF2.15 billion, with sharp downturns in mainland China and Hong Kong. \"This could drive negative sentiment for Richemont, Swatch Group and the luxury sector,\" Citi says. Exports to Japan and the U.S. in February held up, while key European markets deteriorated sharply, they say. That said, hard luxury categories seem to be more resilient than in the past, which reflects the appeal of branded jewelry and a handful of top Swiss watch brands, Citi says. Shares in Richemont and Swatch trade 1.8% and 2.3% lower, respectively. (andrea.figueras@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 19, 2024 06:08 ET (10:08 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Decline in Swiss Watch Exports Doesn't Bode Well for Some Luxury Companies -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDecline in Swiss Watch Exports Doesn't Bode Well for Some Luxury Companies -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-19 18:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>1007 GMT - Exports of Swiss watches fell in February following a period of slowing growth, which could be a negative signal for luxury companies, Citi analysts Thomas Chauvet and Lorenzo Bracco write ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SWGAY","symbol_name":"Swatch Group AG","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2420245608","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2420245608","pubTimestamp":1710842880,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1007 GMT - Exports of Swiss watches fell in February following a period of slowing growth, which could be a negative signal for luxury companies, Citi analysts Thomas Chauvet and Lorenzo Bracco write in a research note. Total exports dropped 3.8% on year to CHF2.15 billion, with sharp downturns in mainland China and Hong Kong. \"This could drive negative sentiment for Richemont, Swatch Group and the luxury sector,\" Citi says. Exports to Japan and the U.S. in February held up, while key European markets deteriorated sharply, they say. That said, hard luxury categories seem to be more resilient than in the past, which reflects the appeal of branded jewelry and a handful of top Swiss watch brands, Citi says. Shares in Richemont and Swatch trade 1.8% and 2.3% lower, respectively. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"SWGAY":"Swatch Group AG","CFRUY":"历峯集团","BK4202":"服装、服饰与奢侈品"},"translate_title":"瑞士手表出口下降对一些奢侈品公司来说不是好兆头——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CFRUY":0.9,"SWGAY":0.9},"content_text":"1007 GMT - Exports of Swiss watches fell in February following a period of slowing growth, which could be a negative signal for luxury companies, Citi analysts Thomas Chauvet and Lorenzo Bracco write in a research note. Total exports dropped 3.8% on year to CHF2.15 billion, with sharp downturns in mainland China and Hong Kong. \"This could drive negative sentiment for Richemont, Swatch Group and the luxury sector,\" Citi says. Exports to Japan and the U.S. in February held up, while key European markets deteriorated sharply, they say. That said, hard luxury categories seem to be more resilient than in the past, which reflects the appeal of branded jewelry and a handful of top Swiss watch brands, Citi says. Shares in Richemont and Swatch trade 1.8% and 2.3% lower, respectively. (andrea.figueras@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 19, 2024 06:08 ET (10:08 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2420245608"}