Latest Retail

Market Upswing Leads Watches of Switzerland to Record Revenue

Sales for full year up 7% to $2.26 billion.

Jewelry, watches, clocks and valuable gifts down 3.2% year on year.

Shops are in a Canadian province where company already operates, it says.

Company reports deficit of $25.2 million for full year.

Indian jeweler plans to open more than 15 locations in North America over next 12 to 18 months.

Company saw $62.8 million in gold-hedging losses during latest fiscal year.

Annual deficit will not exceed $25.5 million, according to Hong Kong jeweler.

Elevated gold prices led to losses, jeweler says.

Revenue down 0.9% from previous month to $715.4 billion.

Decline in sales narrowed over the second half of the fiscal year.

Paris Peace Forum meeting also touches on responsible sourcing, workers’ rights, and respect for local communities.