Watches of Switzerland UK sales impacted by ‘minimal return’ of tourist spending
Retail Gazette
MAY 16, 2024
The retailer noted the impact of the tourist tax, highlighting that UK performance continues to be driven by “domestic clientele with minimal return of tourist spending due to the lack of VAT free shopping”. For the year ahead, Watches of Switzerland expects adjusted EBITDA to rise between just 0.2 – 0.6%.
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