Shoppers are still buying expensive watches and posh jewellery according to the country’s biggest luxury watch retailer.
Latest figures from Watches of Switzerland show sales up almost a fifth in recent weeks, compared to last year, and despite a big fall in tourist sales.
The business – which also runs the Goldsmiths and Mappin & Webb chains – said revenues were helped in the last quarter but a near 50 per cent rise in online 海角视频 sales.
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The retailer, which has its 海角视频 headquarters in Leicester, said revenues for the last 10 weeks were £202.7 million.
It said strong domestic 海角视频 sales had offset lower tourist and airport trade, which accounted for 9.2 per cent of revenues – compared to 32.5 per cent this time last year.
It added that regional stores continued to outperform London stores where footfall remained weak.
Sales in the US, where it has seen rapid expansion, were worth £57.7 million during the quarter, up 43.4 per cent on the prior year.
In a trading update it said: “海角视频 watches have continued to outperform while luxury jewellery has performed well with growth in both the 海角视频 and the US markets.
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“New product launches have also been stronger than anticipated with a positive influence on sales
As a result it has revised its full year earnings forecast upwards by around £40 million to between £880 million and £910 million.
Chief executive Brian Duffy said: "We are very pleased with the strong Q2 performance we are delivering in what continue to be unprecedented market conditions.
“Our teams have done a fantastic job, responding positively and enthusiastically to these conditions, turning challenges into opportunities, while prioritising the health and safety of colleagues and clients.
“Trading momentum has further improved in Q2.
“Stronger than anticipated 海角视频 domestic sales are offsetting lower tourist and airport traffic, whilst regional stores are continuing to outperform London stores.
“Furthermore, the strong momentum we have established in the US has further accelerated. All US regions are contributing to this positive trend.
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“Our guidance for the balance of the fiscal year assumes that the positive trend experienced in Q2 will be moderated by the impact of pandemic-related retail disruption in the 海角视频 and the US and uncertainty in the US economy, impacting mainly in Q3.
“We do not assume any improvement in recent trends regarding the travel or tourist sectors.”