Wage growth is lagging behind soaring prices as households grapple with the rising living costs.
Luxury watch retailer Watches of Switzerland expects a potentially more challenging trading environment in the second half of its current financial year, it said on Tuesday, as tough economic conditions impact spending patterns. "We're not really worried because so much of our business is driven by the supply," Chief Executive Brian Duffy told Reuters in an interview. The Rolex retailer, which has long waiting lists for timepieces in short supply, confirmed it expects revenue in a range between 1.45 billion pounds ($1.8 billion) and 1.50 billion for its financial year through April 2023.
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