InfoAnda - Swatch expects sales to improve in second half

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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: Swatch expects sales to improve in second half AFP - Monday, July 13 ZURICH (AFP) - - The world's biggest watchmaker Swatch Group is expecting sales to improve in the second half of this year after a difficult start to the year, group's CEO Nick Hayek said in remarks published Sunday. ADVERTISEMENT "After a difficult start this year, we are now experiencing a substantial month to month improvement," Hayek told Swiss newspaper NZZ am Sonntag. He added that he expected a "positive development in comparison to the same time a year ago, which was already hit by the crisis. I'm even expecting an improvement compared to the first six months." "We will see a real stimulus in the second half," he said. Even for its three subsidiaries which had trimmed working hours since last September amid a plunge in orders, Hayek said he expects production to take off again by the end of October. He pointed out that the group's business in China, in particular, had grown significantly. "The Swatch Group grew extraordinarily strongly in China. In June, we grew in double-digits, above all with Omega, Longines and Tissot." Swiss watch exports have been tumbling over the past year, with foreign sales of Swiss watches and components dropping by a quarter in the first five months of the year compared to the same period in 2008, according to statistics from the Federation of the Swiss Watch Industry. The hardest hit export destinations included the United States, with a drop of 42.7 percent, followed by Japan, off 30.3 percent and Hong Kong, down 26.2 percent. Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Enlarge Photo A Swatch store in central Zurich.The world's biggest watchmaker Swatch Group is expecting sales to improve in the second half of this year after a difficult start to the year. Most Popular – Top Stories Viewed Pushy French are world's worst tourists: study Worst yet to come: White House economic advisor Miniskirts, cleavage upset male SKoreans: survey London's Big Ben clocks up 150 years Jackson 'best father' ever, daughter tells the world View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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