Swatch sales almost halve, post net loss in first half

ZURICH: Swatch Group said it expected sales and profits to improve quickly in the coming months after the Covid-19 pandemic led it to post a net loss in the first half of the year.

Swiss watchmakers have seen their sales slide as the pandemic led to store closures, first in Asia then in Europe and the United States, and Chinese tourists, their most important customers, could not travel and shop.