Lower Swiss Watch Exports Mirror Soft Luxury Demand -- Market Talk

Dow Jones04-18

1147 GMT - Declining exports of Swiss watches reflect the broader slowdown of the luxury market after exceptional years of growth, Bernstein analysts say. Total exports of timepieces fell around 16% in March compared with the same month last year to CHF2 billion, mainly due to sharp downturns in China and Hong Kong. "We would stick to leaders in a softer demand environment," Bernstein says. The analysts rate both Swatch Group and Richemont as outperform, with the latter expected to benefit from positive trends in its core division jewelry maisons. Shares are down 1.2% and 1.7%, respectively. (andrea.figueras@wsj.com)

(END) Dow Jones Newswires

April 18, 2024 07:48 ET (11:48 GMT)

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The analysts rate both Swatch Group and Richemont as outperform, with the latter expected to benefit from positive trends in its core division jewelry maisons. Shares are down 1.2% and 1.7%, respectively. 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Total exports of timepieces fell around 16% ...</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":"2428156710","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2428156710","pubTimestamp":1713440880,"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":"1147 GMT - Declining exports of Swiss watches reflect the broader slowdown of the luxury market after exceptional years of growth, Bernstein analysts say. Total exports of timepieces fell around 16% in March compared with the same month last year to CHF2 billion, mainly due to sharp downturns in China and Hong Kong. \"We would stick to leaders in a softer demand environment,\" Bernstein says. The analysts rate both Swatch Group and Richemont as outperform, with the latter expected to benefit from positive trends in its core division jewelry maisons. Shares are down 1.2% and 1.7%, respectively. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"SWGAY":"Swatch Group AG","BK4202":"服装、服饰与奢侈品","CFRUY":"历峯集团"},"translate_title":"瑞士手表出口下降反映出奢侈品需求疲软——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CFRUY":0.9,"SWGAY":0.9},"content_text":"1147 GMT - Declining exports of Swiss watches reflect the broader slowdown of the luxury market after exceptional years of growth, Bernstein analysts say. Total exports of timepieces fell around 16% in March compared with the same month last year to CHF2 billion, mainly due to sharp downturns in China and Hong Kong. \"We would stick to leaders in a softer demand environment,\" Bernstein says. The analysts rate both Swatch Group and Richemont as outperform, with the latter expected to benefit from positive trends in its core division jewelry maisons. Shares are down 1.2% and 1.7%, respectively. 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