The company has raised its outlook, expecting sales to increase by 9-11 per cent at the end of the financial year. Watches of Switzerland CEO Brian Duffy said the company continues to fare well in an adverse trading climate.
“I am pleased to report another period of strong performance, building on the sales momentum established in the first half and reflecting strong trading over the holiday period,” Duffy said.
“It is particularly pleasing to be achieving these results despite an unusually volatile operating environment, including macroeconomic uncertainty and tariffs.”
In a recent interview, Duffy also suggested that retail remains a remarkably underappreciated aspect of the economy.
"I don't quite know why the government aren't more open to understanding the challenges that retail faces and the importance of retail to the economy," Duffy said.
"I think the retail sector is taken for granted. We also employ young people, particularly that can often be where you're starting your career. As the labour market is slowing down, is getting softer, this employment is becoming more and more important."
The report noted that demand for luxury brands remained strong, outpacing supply in the US and UK markets. It also highlighted the success of Roberto Coin's marketing campaign starring actress Dakota Johnson.
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