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.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.