SWGAY Swatch Group AG (PK)

ZURICH--Swiss watchmaker Swatch Group AG (UHR.VX) is keeping its sales target for 2012, the company's chief executive was quoted as saying by Germany's Handelsblatt newspaper on Tuesday.

In excerpts from an interview to be published by the newspaper, Nick Hayek said the 8 billion Swiss francs ($8.15 billion) sales target still holds. "It is ambitious. We are fighting for it," Mr. Hayek was quoted as saying.

Hayek also reportedly said that the economic slowdown in China won't hit Swatch too hard, because the company is diversified, in terms of both regions and market segments, selling to mass and luxury markets.

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