FIRST AIRED: July 17, 2019

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00:00:00
home homes turmoil has claimed one surprising victim fall far away Swiss watchmakers swatch group reporting a big drop in sales and earnings on Wednesday net profit down over eleven percent in the first off besides its namesake brands the company makes many of the watches you know from long gene to omega to really highlands names like break a now it seems home homes troubles may be connected to its own the city is the biggest export market for Swiss watches it's a gateway to Chinese consumers , George won't say west sales declined but the Swiss watch industry association says exports to the city all sharply down , investors don't seem worried though shares in swat shop over five percent in early trade trade is noted the firms promise all of strong growth in the second half also in focus its crackdown on the so called gray market that's the many on authorized retailers selling swatch brands at a discount the company says the crackdown crimped sales in the first half but will boost prices and profits in the long run