Watches of Switzerland sales rise despite ‘significant’ coronavirus impact

Award-winning Watches of Switzerland store from outside

Watches of Switzerland has posted an increase in full-year sales despite its top line being “significantly impacted” by the coronavirus crisis.

The luxury watch specialist said group revenue increased 5.9% to £819.3m in the 52 weeks to April 26, ahead of recently revised guidance.

Sales in the UK edged up 0.6% to £591.6m, while revenues raked in from its US business jumped 22.9% to £227.7m. However, the retailer said store closures “impacted momentum” during the final six weeks of its financial year, despite a 45.8% spike in ecommerce sales during the final six weeks of its financial year, as lockdown measures drove shoppers online.

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