Watches of Switzerland increases revenue and profits forecast again – Retail industry
Article summary
Retail industry Watches of Switzerland increases revenue and profits forecast again UK’s bigger seller of Rolex and Omega watches to repay £3.3m in furlough money but retain rates relief A poster advertising the near-£8,000 Omega watch linked to the delayed James Bond film No Time to Die. Photograph: Arnd Wiegmann/Reuters A poster advertising the near-£8,000 Omega watch linked to the delayed James Bond film No Time to Die. Photograph: Arnd Wiegmann/Reuters Thu 17 Dec 2020 18.45 GMT Last modified on Fri 18 Dec 2020 04.37 GMT The UK’s biggest seller of Rolex and Omega watches has increased its profits forecast again as the clamour for high-end timepieces shows no sign of abating. Watches of Switzerland said that, given its recent strong performance, it planned to repay the £3.3m of furlough support money it had received during the original UK-wide lockdown. […] The retailer said it now expected full-year revenues of between £900m and £925m, up from a previous forecast of £880m-£910m.
