- Watches of Switzerland has reported better-than-expected first-half results, driven by enduring demand for luxury items despite cost-of-living concerns.
- Revenues rose by 15 per cent to £974 million in the six months to November, with US sales surging 22 per cent and UK revenues up 9 per cent.
- The retailer saw a 31 per cent surge in luxury jewellery sales in its showrooms, with strong performance across flagship boutiques and UK regional cities.
- Chief executive Brian Duffy credited the company's strong market position and high-quality execution for the performance during an unsettled economic period.
- Full-year revenue growth is now projected to hit the upper end of guidance between 7 per cent and 10 per cent, with first-half adjusted earnings expected to reach up to £89 million.
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