Watches of Switzerland group posted an increase in sales and like for likes during its first quarter since becoming a listed business.
The luxury watch retailer, which also owns Goldsmiths, Mappin & Webb and Mayors in the US, registered a 17.8% jump to £209.4m in group revenue for the three months to July 28.
Group like for likes increased 10.8% up from a 7.3% increase for the same period the previous year.
The jewellery retailer’s like-for-like sales in the UK, excluding online, increased 11.5% during the period, up from a 6% increase during the first quarter of 2018.
US like-for-like sales were up 8.7% during the same period, but this was down slightly from an 11.9% increase for the same period the previous year.
The group’s UK revenue was up 11.8% to £155m and US revenue surged 39% to £54.4m during the first quarter.
Although the retailer said the “luxury watch markets in the UK and US remain strong” it is aware of the “ongoing wider macroeconomic uncertainty” in both countries.
Watches of Switzerland chief executive Brian Duffy added: “Our first quarter as a listed business saw continued strong underlying growth in both the UK and US, supported by the expansion of our showroom portfolio.
“Our focus on store upgrades and store customer service, supported by increasing digital and social marketing, and closer collaboration with brand partners, is working.”
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