November 8, 2019 / 10:33 AM / 6 days ago

BRIEF-Richemont says confident for jewellery business in H2

Nov 8 (Reuters) - Richemont:

* CFO SAYS JEWELLERY BRANDS HIT BY HONG KONG SLOWDOWN IN Q2, BUT CONFIDENT ON HIGH JEWELLERY PERFORMANCE IN SECOND HALF

* CFO SAYS ON TRACK TO REACH EBIT-NEUTRAL POSITION ON ONLINE DISTRIBUTORS

* CFO SAYS HIGH JEWELLERY INVOICING WILL HAPPEN IN H2

* CFO SAYS HONG KONG MARKET VERY EXPOSED TO WATCHES AND JEWELLERY, SAW “SEVERE DROP” IN Q2

* CFO SAYS INVESTMENTS AT ONLINE DISTRIBUTORS WERE PLANNED, NO NEGATIVE SURPRISE THERE

* CEO SAYS WILL KEEP BUYING VARIOUS WATCH COMPONENTS FROM SWATCH GROUP, BUT RICHEMONT NOW MAKES MOST OF ITS MOVEMENTS

* CEO SAYS CAN ADAPT TO SITUATION WHATEVER SWATCH GROUP’S POLICY WILL BE NEXT WEEK AFTER SUPPLY AGREEMENT WITH COMPETITION WATCHDOG WEKO EXPIRES Further company coverage: (Reporting by Silke Koltrowitz)

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