June Swiss Watch Exports -35% – Coronavirus Watch 29

If not for a rebound in the Chinese market, June Swiss watch exports would have hit the proverbial basement floor. Even with the watch sales resurgence in The People’s Republic of Human Rights Abuses, the Swiss watch industry took a body blow. The monthly stats coming from the Federation of the Federation of the Swiss Watch Industry (SIHH) reveal a barely mitigated  disaster, in one area of the biz in particular . . .

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Swatch Profits Tank – Coronavirus Watch 27

The Swatch Group has just released their 2020 half-year financial report [click here for pdf]. The announcement revealed the combined worldwide numbers for Breguet, Harry Winston, Blancpain, Glashutte, Jaquet Droz, Leon Hatot, OMEGA, Longines, Rado, Union Glashutte, Tissot, Balmain, Certina, Mido, Hamilton, Calvin Klein, Swatch and Flik-Flak. As our headline reveals, Swatch profits tanked . . .

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Swiss Watches Crater – Coronavirus Watch 26

“As countries around the world contend with the health emergency, the economic effects of suspending almost all activity have inevitably impacted the Swiss watch industry,” Monochrome.com reports, “and will continue to do so for months to come.” The latter part of that statement – predicting a “challenging” future for Swiss watch exports – reflects the industry’s growing realization that Coronageddon is a lot more than a flesh wound. The May numbers tell the tale . . .

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Retail Sales Rise – Coronavirus Alert 25

From the department of quick statistics: retail sales were up 18% in May month-to-month. This retail sales rise surprised all the forecaster who’d forecasted half that increase. While the retail sales rise is good news for everyone who has an interest in the economy getting back to normal (all of us), is it really evidence that the long-awaited watch buying revenge buying wave is here? . . .

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