March 23, 2020 / 7:19 AM / 8 days ago

BRIEF-Watches Of Switzerland Says Travel And Tourism Business Were Adversely Impacted By Reduced Footfall Due To Virus

March 23 (Reuters) - Watches of Switzerland Group PLC :

* WATCHES OF SWITZLND. - COVID-19 UPDATE

* WATCHES OF SWITZERLAND GROUP PLC - FOR 7 WEEKS TO 15 MARCH 2020, GROUP REVENUE INCREASED AHEAD OF EXPECTATIONS, UP 16.8% RELATIVE TO PRIOR YEAR

* WATCHES OF SWITZERLAND GROUP PLC - FOR 7 WEEKS TO 15 MARCH 2020, GROUP LIKE-FOR-LIKE (LFL) SALES INCREASED 12.0% RELATIVE TO PRIOR YEAR

* WATCHES OF SWITZERLAND GROUP PLC - GROUP’S TRAVEL AND TOURISM BUSINESS WERE ADVERSELY IMPACTED BY REDUCED FOOTFALL DUE TO VIRUS

* WATCHES OF SWITZERLAND GROUP PLC - GROUP’S TRADING IN STORES LOCATED WITHIN AIRPORTS, IN LONDON, AND IN LAS VEGAS IMPACTED BY VIRUS

* WATCHES OF SWITZERLAND GROUP PLC - GROUP’S STORE PORTFOLIO HAS BEEN CLOSED IN US AS OF 19 MARCH 2020 AND WILL BE CLOSED IN UK AS OF 23 MARCH 2020

* WATCHES OF SWITZERLAND GROUP PLC - GROUP CURRENTLY EXPECTS TOTAL REVENUE FOR YEAR TO 26 APRIL 2020 TO BE IN RANGE OF £809 MILLION TO £812 MILLION

* WATCHES OF SWITZERLAND GROUP - TAKEN STEPS TO ELIMINATE DISCRETIONARY EXPENDITURE, REDUCE WORKING CAPITAL AND WHERE POSSIBLE, DELAY CAPITAL PROJECTS Source text for Eikon: Further company coverage:

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