Watches of Switzerland sales jump 18% in first quarter

09:56 13/08/2019 - Luxury watch retailer Watches of Switzerland said it grew revenue by 18% in its first quarter, with gains posted in both the UK and US.

Revenue for the three months through June jumped to £209.4m, up from £177.7m on-year.

On a like-for-like basis, revenue rose 11%.

The company said that while it noted ongoing wider macro-economic uncertainty in the UK and US, it was confident of meeting its expectations for the current financial year.

'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,' chief executive Brian Duffy said.

'Our focus on store upgrades and store customer service, supported by increasing digital and social marketing and closer collaboration with brand partners, is working.'

At 9:56am: (LON:WOSG) share price was +3.25p at 287.25p

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