Luxury retailer Watches of Switzerland has seen sales soar in the US (Yui Mok/PA)Luxury retailer Watches of Switzerland has seen shares soar after upping its full-year outlook due to better-than-expected demand. Its trading update showed UK sales rose 12.6% to £145.1 million in the 10 weeks of the second quarter so far, with online growth of 50%. Tourist and airport sales now account for less than 10% of group sales – at 9.2% – down from a third a year ago. WoS chief executive Brian Duffy said: “Trading momentum has further improved in the second quarter. “Stronger-than-anticipated UK domestic sales are offsetting lower tourist and airport traffic, whilst regional stores are continuing to outperform London stores.

Source: Irish Independent October 06, 2020 08:48 UTC