Watches of Switzerland Shares Gain as UK and US Return to Growth in H2 

Watches of Switzerland Group (LON: WOSG) saw its shares rise more than 5% in early trading on Thursday after reporting full‑year revenue in line with market forecasts and strong second‑half momentum.

For the 52 weeks to 27 April 2025, group revenue reached £1.65 billion, up 8% on a constant currency basis (7% reported). Adjusted profit before tax is expected to meet consensus forecasts. 

In the United States, revenue grew 16% for the full year (14% reported) and accelerated to 19% in the second half. In the UK and Europe, H2 revenue rose 6%, contributing to a 2% increase for the year.

Chief Executive Brian Duffy said: “In H2 FY25 we returned to growth in both the UK and US, delivering Group revenue of +12%, driving a full‑year performance of +8% (constant currency).” 

He highlighted the successful opening of a flagship Rolex boutique on Old Bond Street, London, which is “trading ahead of our expectations”, alongside several key Rolex projects in Texas, Florida and Georgia.

Watches of Switzerland also reported encouraging performance from its pre‑owned business and noted progress in integrating recent acquisitions Hodinkee and Roberto Coin Inc. 

Looking ahead, the company told investors it is mindful of the uncertain macroeconomic backdrop, including potential US tariff changes. 

However, it remains “confident in the strong fundamentals of the luxury watch category and our differentiated business model in the underdeveloped US market.”