Calendar Year 2016 Still Bad Earnings All The Way Down.

With high-end watches and high-end

The group, which is the group's focus, has recently released its annual performance report for 2015.

It has gone up, but other data are still bleak.

It is reported that in the 2016 fiscal year ended March 31, 2016, the total annual revenue of the Group recorded an increase of 6% to 11 billion 76 million euros, and the actual group would record a 1% decline at a fixed exchange rate.

The group revealed the preliminary data in April that the total revenue of the group will decline from 18% to 15% in April. Meanwhile, the Middle East and Africa still have excellent growth performance while the remaining major markets will continue to decline. The group said it will close down and move some of the Hongkong stores.

In addition, the group also said that in the current fiscal year 2017, the whole

Will continue to explore, and will not improve in the short term.

In addition, the group's operating profit dropped by 23% to 2 billion 60 million euros. In addition, the group gross margin also recorded a 180 basis point regression to 64.3%.

Operating profits also plummeted by 700 basis points to 18.6%.

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The decline of the clock industry has led to the decline of the Swiss watch industry, but there is still no way to predict the clock industry that is hitting the bottom.

As the top brands of many high-end watches, it has announced plans for layoffs a year ago.

However, after adjustment, the group said it would reduce the size of the layoffs.

The original plan of the group will carry out 350 layoffs for Cartire, Earl and Vacheron Constantin three list brands, but because of trade union negotiations, the final layoff plan will mainly target Cartire, and the final number will be reduced from 350 to 100.

Among them, there will be a reduction of 70 jobs in the Cartire brand, and the remaining 30 will take place in the count and Vacheron Constantin.

As a result of many famous brand names, especially during the holiday season of last year, the overall decline of the jewellery Department of the group has dragged down the group's performance. At the same time, the continuous shrinking of the clock industry has led to the decision of the group to make layoffs.

In addition, analysts from the investment bank believe that the performance of the luxury industry has also been affected by the negative impact of the Swiss watch on exports.

At the same time, it is very worrying that there is no market in Asia that can compensate for the lack of sales.

Therefore, a sustained slowdown in China's economy may be a drag on the global market's performance in the future.