Swatch's 2013 Revenue +8% to $10B
Jan 12, 2014 8:24 AM
By Deena Taylor
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RAPAPORT... The Swatch Group reported that its revenue grew 8.3 percent year on year to $9.768 billion (CHF 8.817 billion) in 2013, despite negative exchange rates against the yen and U.S. dollar.
The company noted that growth was spurred by its strong brands coupled with the group's extensive distribution retail networks. Watch and jewelry sales rose 9 percent to $9.46 billion (CHF 8.53 billion) during 2013.
The company anticipates good operating profit and net income results for 2013 when it reports those figures later. The group also expressed optimism going into 2014 and expects dynamic growth based upon the strong start by all of its brands in the first few days of January 2014.
The group will report its 2013 earnings in February.
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Tags:
Deena Taylor, Swatch, swatch group, watch, watches
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