Watches
Swatch Forecasts Revenue May Return to Pre-Pandemic Levels
- Factory production is gradually returning to full capacity
- Watchmaker’s 2020 earnings were the lowest in three decades
Swatch Group AG forecast a rebound from its lowest earnings in more than three decades with sales possibly returning to pre-pandemic levels as travel revives.
There’s a good chance revenue in local currencies will approach the amount Swatch had in 2019, the company said Thursday. The firm’s operating profit will be “substantially higher” than the 1 billion francs ($1.1 billion) that same year, Chief Executive Officer Nick Hayek said in a phone interview.