swatch group ag/the-unsp adr (SWGAY) Key Developments
Swatch Reports Earnings Results for the Year 2014
Feb 5 15
Swatch reported earnings results for the year 2014. The company has posted a 2014 net profit down 26% following massive investments, and said it was bracing for a 2015 marked by an overvalued Swiss franc. In 2013, the company saw its net profit plummet to CHF 1.4 billion ($1.5 billion, €1.3 billion), a drop of more than a quarter which marked its weakest result in five years. Its operating profit also slumped 24.3% to CHF 1.7 billion.
The Swatch Group AG to Report Fiscal Year 2014 Results on Feb 05, 2015
Oct 31 14
The Swatch Group AG announced that they will report fiscal year 2014 results on Feb 05, 2015
Swatch Reports Earnings Results for the First Half of 2014
Jul 22 14
Swatch reported earnings results for the first half of 2014. The company's profit hurt by strong Swiss franc Vienna Swatch sold more watches in the first half of the year, but its net profit fell 11.5% to CHF 680 million ($754 million) because of negative currency effects. The operating profit fell 8.8% to CHF 830 million, owing not only to the strong franc, but also to a factory fire and to high marketing expenditures for the Sochi Winter Olympics. Sales rose by 8.5% from the equivalent period 2013 to CHF 4.5 billion at constant exchange rates. At current exchanges rates, the sales increase was 4.0%, totaling CHF 4.3 billion.
Swatch to Open Stores in India
Jul 19 14
Swatch has applied to set up stores in India. The company has made a formal proposal to the commerce ministry under which thecompany would have 100% control of its business.
Swatch Launches Sistem51 Collection in Dubai
Jun 24 14
Swatch launched the Sistem51 collection for the first time in the region in Dubai. The colourful collection of automatic watches, targeted at men and women, are priced at AED 540. Currently, the watches are sold at Mall of the Emirates, but starting from Sunday, they will be available at The Dubai Mall, Deira City Centre, Ibn Battuta Mall and Marina Mall. The collection was launched globally in Switzerland last year.