, Columnist
Swatch Out
Rival watchmaker Richemont is moving faster to protect margins.
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When times change, there a different ways to adjust a watch. Take Swatch and Richemont.
The woes of the market for luxury timepieces were laid bare on Friday when Swatch, maker of the eponymous plastic watches and upscale brands such as Omega, warned first-half profit will fall by more than 50 percent. The stock tumbled to the lowest in more than six years.