Watches of Switzerland festive sales rise in “another strong performance”

Watches of Switzerland has seen its revenues almost double during its first quarter to August 1,
“Our US business goes from strength to strength." : Watches of Switzerland CEO.
// Watches of Switzerland sales up 6.6% in the 13 weeks to January 24
// The retailer’s online sales jumped 121% during the period
// CEO Brian Duffy said the group faced “significant headwinds” along the way

Watches of Switzerland has witnessed a rise in sales across the UK over the Christmas period in what has been described as “another strong performance”.

The retailer saw sales increase by 6.6 per cent in the 13 weeks to January 24 on a constant currency basis to £272.6 million.

UK sales increased 1.5 per cent year-on-year to £186.1 million despite stores only trading 37 per cent of potential opening hours due to national lockdowns.

READ MORE: Watches of Switzerland profits rise as Covid-19 boosts online demand

The retailer’s online sales in the UK rose by a colossal 121 per cent during the period, which offset the impact of store closures amid the Covid-19 pandemic.

Watches of Switzerland is maintaining its current full-year guidance despite the ongoing lockdown, which it expects to continue until at least the end of March.

The retailer said it was also supporting all efforts for the government to review the end of tax-free shopping for tourists, which came into effect at the beginning of this year.

“We delivered another strong performance, driven by a surge in UK online sales, which mitigated the significant headwinds, the extended period of store closures and the continued very low level of international business in the UK,” chief executive Brian Duffy said.

“We continue to provide an exceptional customer service during these unusual circumstances, making further enhancements to our customer relationship management, ecommerce and clienteling capabilities through the introduction of our luxury concierge and collect service and the launch of our new virtual boutique.

“With a strong plan for continued investment and future growth, we are well positioned to further enhance our leading position in the UK and become a leader in the US luxury watch market.”

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