Watches of Switzerland Shares Surge: Confirms Strong Trading; On Track to Meet FY26 Expectations

Watches of Switzerland (LON:WOSG) shares surged at the open on Wednesday after it announced a trading update, confirming that performance is in line with expectations for the 18 weeks leading up to August 31, 2025.

The luxury watch retailer anticipates a robust first half of fiscal year 2026, aligning with previous guidance. The markets reacted positively, with the stock rising as high as 355.2p at the open. At the time of writing, it is trading at 343p per share, up over 7% on the day.

The company reported consistently strong trading across its key markets, with particularly notable performance in the United States, despite the announcement of increased tariffs on Swiss imports.

The luxury watch and jewellery markets in the UK have maintained stability observed in the second half of fiscal year 2025, resulting in good year-on-year growth. The growth in registration of interest lists in both markets underscores sustained consumer demand.

The company's flagship Rolex Boutique on Old Bond Street in London is said to be exceeding expectations, demonstrating excellent client response, high traffic levels, and strong conversion rates.

WOSG added that the Rolex Certified Pre-Owned salon is rapidly establishing itself as a premier destination for Rolex enthusiasts.

E-commerce sales have shown good growth, especially in the US, driven by the upgraded Watches of Switzerland e-commerce platform. Meanwhile, the group said its well-established Certified Pre-Owned business continues to expand in both markets, presenting a growth opportunity in a dynamic category.

Roberto Coin Inc., acquired in May 2024, is performing strongly, with plans to expand the brand. WOSG notes that the expansion within existing showrooms is proving successful, with plans to extend this to retail partners.

WOSG continues to invest in showroom development, including the refurbishment of Northern Goldsmiths in Newcastle and the opening of the Audemars Piguet AP House in Manchester. The new Mappin & Webb Luxury Jewellery Boutique in Manchester, opening September 4, 2025, will have geographical exclusivity for several luxury jewellery brands, including the first De Beers mono-brand boutique.

Looking ahead, WOSG commented that the outlook for both markets is encouraging, aligning with FY26 guidance provided in July 2025, with the company not anticipating any material impact from US tariffs in H1 FY26, as brand partners have increased inventories.

Swiss Watch Exports in July 2025 rose by 45% compared to the prior year, reflecting this inventory build-up.