By Michael Susin
Watches of Switzerland Group PLC mentioned on Wednesday that income for fiscal 2022 jumped, pushed by sturdy demand for luxurious watches and jewellery within the U.S. and U.Ok.
The London-listed, luxury-watch retailer mentioned income for the yr ended Could 2 rose to 1.24 billion kilos ($1.55 billion) in contrast with GBP905.1 million the prior.
The corporate mentioned shopper demand for “super-high demand” brands–such as Rolex, Patek Philippe and Audemars Piguet–continues to exceed provide.
Watches of Switzerland expects fiscal 2023 income to be within the vary of between GBP1.45 billion and GBP1.50 billion because it presently advantages from a robust momentum.
“We enter fiscal 2023 with visibility of product provide for super-high demand manufacturers for the rest of the 2022 calendar yr and an thrilling program of recent merchandise and advertising and marketing from different manufacturers. We’ve got a robust pipeline of showroom initiatives, and we count on an ongoing restoration in footfall and airport visitors,” the corporate mentioned.
Write to Michael Susin at michael.susin@wsj.com
