Swatch Group reports 8% increase in H1 sales

Biel/Bienne, Switzerland First-half sales increased 8 percent year-over-year for Swatch Group while operating profit edged up 1 percent, the watch manufacturer and marketer announced recently. Gross sales for the first half of 2013 reached $4.47 billion, compared with $4.11 billion in the first half of last year, an 8 percent increase on a constant currency basis. Net sales grew 9 percent, from $3.93 billion to $4.28 billion. Operating profit increased 1 percent in dollar terms, from $965.4 million to $973.4 million, but operating margin fell from 25 percent of sales in the first half of 2013 to 23 percent in the first half of 2013. For the first time, Swatch Group lumped its production activities into its Watches & Jewelry segment, which now includes a total of 20 brands.