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Watches of Switzerland set for further expansion

The luxury watch retailer delivered substantial sales growth even as tourist numbers slumped
Watches of Switzerland set for further expansion

 

  • Significant step-up in forward capex commitments
  • ecommerce to the fore as the store estates closed for half of FY 2021

No surprises for shareholders in Watches of Switzerland (WOSG) as full-year figures mirrored May’s trading update and consensus estimates. Demand for its high-end timepieces gathered momentum through the lockdowns, with ecommerce sales increasing by 121 per cent over the course of the year, while free cashflow more than doubled to £110m.

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