Swiss watch industry sees tough times ahead over Trump tariffs [Yahoo! Finance Canada]
SWATCH GROUP AG UNSP/ADR (SWGAY)
NASDAQ:AMEX Investor Relations:
swatchgroup.com/investor_relations/financial_announcements/latest_financial_announcements
Company Research
Source: Yahoo! Finance Canada
"I made a deal and now we're stuck. We are supposed to ship the watch, but what do we do now? He (the client) won't want to pay 31% more. It doesn't feel real," Davidoff said. Shares in European luxury companies dropped on Thursday after Trump announced import tariffs, including 31% on goods from Switzerland and 20% from the European Union. The vintage watches Davidoff sells are worth an average of 20,000 Swiss francs ($23,272) and could now be subject to another 6,000 Swiss francs in import tax. JPMorgan analysts said they expected to see most pressure on the Swiss watchmakers, with both Cartier-owner Richemont and Swatch Group already on thin margins. Richemont did not reply to a request for comment. Swatch did not comment. The U.S. is Switzerland's top foreign watch market, accounting for 16.8% of exports, or 4.4 billion francs worth, according to Federation of the Swiss Watch Industry. Davidoff said he sells on average about 250 vintage watches by Rolex, Piaget and Pate
Show less
Read more
Impact Snapshot
Event Time:
SWGAY
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
SWGAY alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
SWGAY alerts
High impacting SWATCH GROUP AG UNSP/ADR news events
Weekly update
A roundup of the hottest topics
SWGAY
News
- Swatch Group, Citizen Watch Investigated by Italian Competition Authority Over Pricing Practices [Yahoo! Finance]Yahoo! Finance
- US investor Wood lambastes Swatch, proposes overhaul to company's board, FT reports [CNBC]CNBC
- Could Easing US Tariffs Reveal a Competitive Advantage for Swatch Group (SWX:UHR)? [Yahoo! Finance]Yahoo! Finance
- Swiss watchmaker stocks rally as Trump dangles relief from steep 39% US tariff [Yahoo! Finance]Yahoo! Finance
- U.S. and Switzerland working on a deal to slash 39% tariffs [CNBC]CNBC