Watches of Switzerland Group PLC (LON:WOSG) said it expects a prolonged downturn in airport traffic post-lockdown while e-commerce and clienteling will gain importance.
The luxury watch retailer has started re-opening shops in the US and said “the experience of those colleagues and customers has been positive”.
READ: Watches of Switzerland takes revenue hit as stores to be closed for over a month
As of 13 May, the firm had £265mln available facilities with £83mln in the bank, adding it can sustain a prolonged period of dampened consumer sentiment.
In the year to 26 April, group revenue advanced 6% to £819mln, ahead of recently revised guidance, though in the 46 weeks to 15 March it jumped 16%.
Since lockdown was implemented, online sales jumped 46%.
Adjusted underlying earnings (EBITDA) are expected to come in at £75-78mln.
"The luxury goods market fundamentals remain sound with demand for luxury watches continuing to exceed supply," analysts at Shore Capital commented, adding the update was "reassuring".
Shares rose 1% to 223.7p on Thursday morning.
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