\n\t\t\t\tThe latest financial report from Watches of Switzerland was headlined by strong sales in the US market.
\n\t\t\t<\/p>\n
Revenue for the group increased by 11 per cent for the 12-month period ending 3 May, reaching \u00a31.83 billion ($AUD3.54 billion). Revenue in the US market specifically increased by 18 per cent and accounts for more than half of the company\u2019s sales and profit.<\/p>\n
Sales in the UK increased by 4 per cent. Watches of Switzerland CEO Brian Duffy said that performance in the American market continues to push the company forward.<\/p>\n
\u201cThe US continues to be the primary engine of growth,\u201d he said.<\/p>\n
\u201cThis is a major milestone in the world\u2019s largest and fastest-growing luxury-watch market, achieved in just over eight years from entering the US. In the UK, performance has improved despite the challenging macroeconomic backdrop, with resilient demand for luxury watches and jewellery.\u201d<\/p>\n
Luxury watch sales improved by 10 per cent, while jewellery sales increased by 14 per cent.<\/p>\n
Watches of Switzerland operates more than 190 stores worldwide and is a major retailer of brands such as Rolex, Omega, Cartier, TAG Heuer, and Breitling.<\/p>\n
In a statement, the company noted the ongoing significance of geopolitical tensions and the flow-on impact this has on consumer sentiment. Watches of Switzerland forecasted a continued revenue increase in the year ahead of between 5-10 per cent.<\/p>\n
More reading \u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
The latest financial report from Watches of Switzerland was headlined by strong sales in the US market.
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Good times continue for Watches of Switzerland<\/a>
Watches of Switzerland reports strong sales<\/a>
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