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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  The Swatch Group    UHR   CH0012255151

THE SWATCH GROUP

(UHR)
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Swatch : won't renew Calvin Klein licence agreement

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10/22/2019 | 06:35am EST
Boards with Calvin Klein store logo are seen on a shopping center at the outlet village Belaya Dacha outside Moscow

ZURICH (Reuters) - Swiss watchmaker Swatch Group will no longer make watches and jewellery under the Calvin Klein brand, reducing its exposure to a price segment that is under pressure from smartwatches and other fashion watches.

The group, which also makes high-end Omega and cheaper plastic Swatch watches, said in a statement on Tuesday it would not renew the collaboration with Calvin Klein when it expires "in the near future", attributing the decision to uncertainties in Calvin Klein Inc.'s management.

Vontobel analyst Rene Weber said this would reduce group sales by about 2%, but that the earnings contribution was likely zero due to the heavy competition.

Swatch Group shares were flat at 0957 GMT in line with the Swiss market <.SSMI>.

(Reporting by Silke Koltrowitz)

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Financials (CHF)
Sales 2019 8 463 M
EBIT 2019 1 135 M
Net income 2019 844 M
Finance 2019 1 249 M
Yield 2019 2,91%
P/E ratio 2019 17,3x
P/E ratio 2020 15,7x
EV / Sales2019 1,55x
EV / Sales2020 1,46x
Capitalization 14 339 M
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Technical analysis trends THE SWATCH GROUP
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Mean consensus HOLD
Number of Analysts 22
Average target price 298,95  CHF
Last Close Price 281,60  CHF
Spread / Highest target 29,3%
Spread / Average Target 6,16%
Spread / Lowest Target -22,9%
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Managers
NameTitle
Georges Nicolas Hayek Chairman-Management Board & Director
Nayla Hayek Chairman
Thierry Kenel Chief Financial Officer
Calogero Polizzi Head-Information Technology
Ernst Tanner Vice Chairman
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