Watches of Switzerland hails ‘strong’ first quarter since IPO

Watches of Switzerland

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.

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