March 19, 2020 / 11:03 AM / 14 days ago

Swatch Group faces standstill in Europe, U.S., but China improves

ZURICH, March 19 (Reuters) - Swiss watchmaker Swatch Group is trying to maintain production at its factories despite the customer standstill affecting all businesses in Europe and the United States, the company said on Thursday.

“Of course we have seen a strong impact on sales in February and March,” Chief Executive Nick Hayek told journalists via a webcast on the group’s full-year results that were released in January.

“In China the situation is improving, while in Europe there’s a standstill and the U.S. is also headed for a standstill,” Hayek said. (Reporting by Silke Koltrowitz, editing by John Revill)

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