The Swiss industry home to Swatch Group, the world's largest watchmaker, and rival Richemont faced its steepest slump in demand in over two decades during the global financial crisis as customers cut back on luxury treats and retailers tried to run down high stock levels But a flurry of upbeat comments from industry leaders since the start of the year have fuelled hopes that the sector will improve in 2010 "The watch exports have finally gone positive, reflecting what has been happening at the retail level for the last couple of months," said Kepler Capital Markets analyst Jon Cox 
Share:  The Swiss industry home to Swatch Group, the world's largest watchmaker, and rival <span class="company">Richemont</span> faced its steepest slump in demand in over two decades during the global financial crisis as customers cut back on luxury treats and retailers tried to run down high stock levels But a flurry of upbeat comments from industry leaders since the start of the year have fuelled hopes that the sector will improve in 2010<span class="sent"> "The watch exports have finally gone positive, reflecting what has been happening at the retail level for the last couple of months," said Kepler Capital Markets analyst <span class="analyst">Jon Cox</span></span> Tweet this 

There is nothing concrete for the moment," Hayek said At 1002 GMT, shares in the group were trading 53 percent higher at 28270 Swiss francs, easily outperforming a near flat DJ Stoxx European personal and household goods index and a 21 percent rise in rival Richemont's shares "I like the stock the management turn every penny, the company has a dominant position in the watch industry and an excellent position in China," said Kepler Capital Markets analyst Jon Cox "The company always does an excellent job in managing costs and if it can keep hold of a lot of them in 2010 it bodes very very well for the group as watch sales rebound," Cox said 
Share:  There is nothing concrete for the moment," Hayek said At 1002 GMT, shares in the group were trading 53 percent higher at 28270 Swiss francs, easily outperforming a near flat DJ Stoxx European personal and household goods index and a 21 percent rise in rival <span class="company">Richemont</span>'s shares "I like the stock<span class="sent"> the management turn every penny, the company has a dominant position in the watch industry and an excellent position in China," said Kepler Capital Markets analyst <span class="analyst">Jon Cox</span></span> "The company always does an excellent job in managing costs and if it can keep hold of a lot of them in 2010 it bodes very very well for the group as watch sales rebound," Cox said Tweet this 

Among the biggies, Bulgari, the Italian maker of ultraexpensive jewellery and watches, on Friday revealed a 51 per cent drop in fourth quarter sales, to €297 million, sending the shares down by a similar percentage The two other big, publicly traded names, Swatch Group (owner of the Swatch, Breguet, Blancpain and Omega brands) and Richemont (Cartier, Montblanc, Baume & Mercier, Jaeger LeCoultre, IWC, Piaget and A Lange & Sohne) have put out stronger outlooks, indicating a rebound of sorts John Cox, an analyst in Zurich with Kepler Capital Markets, has "buy" ratings on both (The industry's other heavyweights, Rolex and Patek Philippe, are not publicly traded and are thought to have had a tough 2009) Mr Cox said that while the industry mood is better today than it was a year ago, the enthusiasm is tempered 
Share:  Among the biggies, Bulgari, the Italian maker of ultraexpensive jewellery and watches, on Friday revealed a 51 per cent drop in fourth quarter sales, to €297 million, sending the shares down by a similar percentage<span class="sent"> The two other big, publicly traded names, Swatch Group (owner of the Swatch, Breguet, Blancpain and Omega brands) and <span class="company">Richemont</span> (Cartier, Montblanc, Baume & Mercier, Jaeger LeCoultre, IWC, Piaget and A Lange & Sohne) have put out stronger outlooks, indicating a rebound of sorts <span class="analyst">John Cox</span>, an analyst in Zurich with Kepler Capital Markets, has "buy" ratings on both</span> (The industry's other heavyweights, Rolex and Patek Philippe, are not publicly traded and are thought to have had a tough 2009) Mr Cox said that while the industry mood is better today than it was a year ago, the enthusiasm is tempered Tweet this 

"Following strong figures from Tiffany and Richemont recently, Burberry beating expectations has not come as a genuine surprise," said Erwan Rambourg, an analyst at HSBC 
Share:  <span class="sent">"Following strong figures from Tiffany and <span class="company">Richemont</span> recently, Burberry beating expectations has not come as a genuine surprise," said <span class="analyst">Erwan Rambourg</span>, an analyst at HSBC</span> Tweet this 

The world's largest producer of the metal was upgraded to "outperform" from "neutral" by Credit Suisse Standard Securities Ltd and its share price estimate was lifted to 972 rand from 785 rand Cie Financiere Richemont SA (CFR SJ) rose 20 cents, or 08 percent, to 2695 rand, extending yesterday's 25 percent gain The world's second largest luxury goods maker was raised to "buy" from "hold" by Standard & Poor's equity analyst Alessandra Coppola Intertrading Ltd (ITR SJ) added 3 cents, or 86 percent, to 38 cents, heading for its biggest rally since Dec 3 The exporter of fruits to Europe said it's still in talks, announced last year, which may affect its shares 
Share:  The world's largest producer of the metal was upgraded to "outperform" from "neutral" by Credit Suisse Standard Securities Ltd and its share price estimate was lifted to 972 rand from 785 rand Cie <span class="company">Financiere Richemont</span> SA (CFR SJ) rose 20 cents, or 08 percent, to 2695 rand, extending yesterday's 25 percent gain<span class="sent"> The world's second largest luxury goods maker was raised to "buy" from "hold" by Standard & Poor's equity analyst <span class="analyst">Alessandra Coppola</span></span> Intertrading Ltd (ITR SJ) added 3 cents, or 86 percent, to 38 cents, heading for its biggest rally since Dec 3 The exporter of fruits to Europe said it's still in talks, announced last year, which may affect its shares Tweet this 

"It could be a rather big deal," said Luca Solca, an analyst at Sanford C Bernstein who has an "outperform" rating on Richemont 
Share:  <span class="sent">"It could be a rather big deal," said <span class="analyst">Luca Solca</span>, an analyst at Sanford C Bernstein who has an "outperform" rating on <span class="company">Richemont</span></span> Tweet this 

Cie Financiere Richemont SA (CFR SJ): The world's second largest luxury goods maker was raised to "buy" from "hold" by Standard & Poor's equity analyst Alessandra Coppola Richemont rallied 66 cents, or 25 percent, to 2675 rand 
Share:  <span class="sent">Cie <span class="company">Financiere Richemont</span> SA (CFR SJ): The world's second largest luxury goods maker was raised to "buy" from "hold" by Standard & Poor's equity analyst <span class="analyst">Alessandra Coppola</span></span> Richemont rallied 66 cents, or 25 percent, to 2675 rand...<span class="sent">Cie Financiere <span class="company">Richemont</span> SA (CFR SJ): The world's second largest luxury goods maker was raised to "buy" from "hold" by Standard & Poor's equity analyst <span class="analyst">Alessandra Coppola</span></span> <span class="company">Richemont</span> rallied 66 cents, or 25 percent, to 2675 rand Tweet this 

"The recession is over for the watch industry," he said Citi analyst Thomas Chauvet said Richemont was likely to emerge as one of the surprise winners of the global recession He said: "Richemont could emerge from the recessionary cycle in a much stronger competitive position" 
Share:  "The recession is over for the watch industry," he said<span class="sent"> Citi analyst <span class="analyst">Thomas Chauvet</span> said <span class="company">Richemont</span> was likely to emerge as one of the surprise winners of the global recession He said: "<span class="company">Richemont</span> could emerge from the recessionary cycle in a much stronger competitive position"</span> Tweet this 

Sales in mainland China and Hong Kong contributed 'significantly' to the increase This was ahead of the £13billion analysts were expecting after Richemont's well heeled customers put the downturn behind them to buy festive treats like the 100 carat diamond necklace pictured above The firm said sales in mainland China and Hong Kong contributed 'significantly' to the increase China has some 340,000 millionaires and the region, which accounts for 31 per cent of group sales, saw revenues rise a chunky 25 per cent over the period Analyst Jon Cox of Kepler Capital Markets, said: 'The recession is over for the watch industry 
Share:  Sales in mainland China and Hong Kong contributed 'significantly' to the increase This was ahead of the £13billion analysts were expecting after <span class="company">Richemont</span>'s well heeled customers put the downturn behind them to buy festive treats like the 100 carat diamond necklace pictured above The firm said sales in mainland China and Hong Kong contributed 'significantly' to the increase<span class="sent"> China has some 340,000 millionaires and the region, which accounts for 31 per cent of group sales, saw revenues rise a chunky 25 per cent over the period Analyst <span class="analyst">Jon Cox</span> of Kepler Capital Markets, said: 'The recession is over for the watch industry</span> Tweet this 

``On balance, (Richemont gave) a strong trading update and should be able to sustain its positive earnings momentum, now fuelled by improving top line momentum,'' analysts at Credit Suisse said in a note 
Share:  <span class="sent">``On balance, (Richemont gave) a strong trading update and should be able to sustain its positive earnings momentum, now fuelled by improving top line momentum,'' analysts at <span class="analyst">Credit Suisse</span> said in a note</span> Tweet this