- Luxury watches and jewellery retailer Watches of Switzerland said its first-quarter revenue had almost doubled, putting it on track to meet its annual guidance.

Revenue for the three months through June had jumped 96% year-on-year to £297.5 million.

Watches of Switzerland said a strong performance in both the US and the UK supported confidence in its outlook and underpinned its existing full-year guidance.

'We have had a very good start to the new financial year with a further acceleration in momentum, versus pre Covid-19 pandemic growth levels, underpinned by diversified growth across our markets and categories,' chief executive Brian Duffy said.

'Looking ahead, we are excited about the planned launch in September 2021 of our Xenia project to further advance the customer experience.'

' We will continue to invest for growth and to advance our strategy to further enhance our leading position in the UK and become a leader in the US luxury watch market.'

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