Swatch Still Needs to Restore Profitability

Dow Jones07-21

0706 GMT - Swatch Group is riding a strong sales-growth wave, but this has yet to translate into profitability, Vontobel's Jean-Philippe Bertschy says in a research note. The Swiss watchmaker struck an upbeat tone in its outlook for the second half following an acceleration in sales growth in May and June with improved profitability sustained into July. "The confirmed acceleration into [the second half] is desperately needed to restore profitability and rebuild operating leverage," the analyst says. While Swatch's sales growth accelerated at a strong pace in the first half, a profitability recovery is still missing and market estimates seem at risk of downgrades, he adds. Moreover, Swatch continues to lose market share relative to Cartier owner Richemont, Bertschy says. Swatch shares fall 2.2% to 198.60 Swiss francs. (adria.calatayud@wsj.com)

(END) Dow Jones Newswires

July 21, 2026 03:16 ET (07:16 GMT)

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While Swatch's sales growth accelerated at a strong pace in the first half, a profitability recovery is still missing and market estimates seem at risk of downgrades, he adds. Moreover, Swatch continues to lose market share relative to Cartier owner Richemont, Bertschy says. Swatch shares fall 2.2% to 198.60 Swiss francs. 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While Swatch's sales growth accelerated at a strong pace in the first half, a profitability recovery is still missing and market estimates seem at risk of downgrades, he adds. Moreover, Swatch continues to lose market share relative to Cartier owner Richemont, Bertschy says. Swatch shares fall 2.2% to 198.60 Swiss francs. 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