Sales at Watches of Switzerland have been strong in the first fiscal quarter, as demand in both the US and UK grew.

“Trading in the US remained strong, and the UK continued to show further signs of market improvement,” the company said in a trading update Thursday. “Demand was broad-based across our key luxury brands.”

The group’s luxury jewelry segment, one of its strategic growth pillars, contributed “good, diversified growth across the group,” in the 17 weeks that ended August 30, Watches of Switzerland explained. The company’s acquisition of prestige watch and jewelry retailer Deutsch & Deutsch, which it brought into the fold in January, has also had a positive impact on performance.

Meanwhile, the retailer opened a new Watches of Switzerland multi-brand showroom in Georgia in July and is in the process of converting an existing Mayors showroom in the same area to a dedicated luxury jewelry store. The company also expects to open a Rolex location in Glasgow, Scotland, a Betteridge in Connecticut, and Watches of Switzerland and Mayors showrooms in New Jersey before Christmas.

The group has maintained its guidance of revenue growth between 5% and 10% at constant currency rates. It will report its full results for the first half in December.

Image: A Watches of Switzerland store in SoHo, New York. (Watches of Switzerland)

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