Watches of Switzerland Group PLC (LON:WOSG) has maintained its full-year guidance even though its UK stores are not expected to reopen until late March 2021 at the earliest.
The watches retailer said it is not seeing any impact from lockdown on US retail activities or on production in Switzerland.
READ: Watches of Switzerland upgrades full-year guidance after swinging to interim profit
The FTSE 250 group continues to develop its mono-brand channel with five new boutiques to open in the UK, two in Cardiff and three in Plymouth later this year.
In the 13 weeks to January 24, revenue advanced 6% to £272mln as the company was helped by mono-branding, eCommerce, customer relationship management and clienteling as well as digital marketing.
Luxury watches represented 86% of total revenue, while higher domestic and e-commerce sales offset lower tourist and airport business.
Watches of Switzerland added it expects full-year revenue to be £900-925mln with an underlying (EBITDA) margin 1.5-2% higher than last year.
Shares dipped 3% to 625.45p early on Thursday.