The Watches of Switzerland Group has revealed that revenue was better than had been expected in the seven weeks leading up to to 15 March with like-for-like sales and revenue increasing by 12 per cent and 16.8 per cent respectively.
This comes even amongst the Covid-19 outbreak meant there was a reduction in footfall in stores in airports in London and Las Vegas, however this off-set against higher sales to domestic customers in the UK and US. Looking ahead, the company said it is currently expecting total revenue for the year to 26 April to come in at between £809M to £812M. This is due to the closure of stores in the US and UK due to the coronavirus outbreak.
Brian Duffy, Watches of Switzerland Chief Executive, said: “Our priority is the health and wellbeing of our colleagues and customers during these unprecedented times. We are taking the necessary steps to mitigate and minimise the impact of this crisis on our business.”
