By Laura McGuire Watches of Switzerland has lowered earnings expectations for the year in the face of flattening demand for luxury watches. In an update, the rolex seller said that it was bruised by “challenging macroeconomic conditions” over Christmas which impacted consumer spending in luxury retail. It now expects revenue for the full year to be in the range of £1.53bn to £1.55bn down from a guidance of £1.65-£1.70bn. Brian Duffy, chief executive officer, said: “The festive period was particularly volatile this year for the luxury sector, with consumers allocating spend to other categories …