Swatch Group likely to reach 2010 sales goal-paper

* CEO says likely to reach 6 bln Sfr sales in 2010 -paper

* CEO more cautious on record net profit target -paper

* Wants to open nine new Omega boutiques in the U.S. -paper

ZURICH, Oct 13 (BestGrowthStock) – Swatch Group (UHR.VX: ), the
world’s largest watchmaker, is likely to reach its sales target
this year despite the negative impact of the strong Swiss franc,
its Chief Executive was quoted as saying on Wednesday.

“We will probably reach our sales goal of 6 billion Swiss
francs ($6.22 billion) (this year). By how much we can exceed it
depends largely on the dollar and the euro,” Nick Hayek told
Swiss newspaper Finanz und Wirtschaft in an interview.

The Swiss franc has risen more than 10 percent versus the
euro this year and hit a new record high against the dollar on
Wednesday, threatening Swiss exporters’ margins.

“The margin development is good in spite of the exchange
rate situation,” Hayek said, adding that demand was holding up
well.

According to Finanz und Wirtschaft, he did not want to
reconfirm the group’s forecast of a record net profit in 2010.

Swatch group, which is best known for its colourful plastic
Swatch watches, wants to extend its distribution network in
China and the United States, Hayek said.

“We intend to open nine new Omega boutiques in the U.S.
until the end of the year,” Hayek said.
($1=.9644 Swiss Franc)
(Reporting by Silke Koltrowitz; Editing by Hans Peters)

Swatch Group likely to reach 2010 sales goal-paper