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Highlights

  • Full-year group revenue up 8% to £1.65 billion, with 12% growth in the second half

  • US sales surged 16%, driven by demand and showroom expansion

  • Flagship Rolex store and upcoming ecommerce upgrades boost outlook

Shares in Watches of Switzerland Group PLC (LSE:WOSG) climbed 4% on Thursday following the release of its full-year trading update, which met market expectations and highlighted company's performance in the second half of the year.

For the 52 weeks ended 27 April 2025, group revenue increased by 8% year-on-year in constant currency, reaching £1.65 billion. The second half of the year saw a marked acceleration, with revenue growth rising to 12%.

The luxury watch retailer reported particularly significant results in the United States, where annual sales rose by 16%. In contrast, revenue in the UK and Europe saw a more modest increase of 2%, underscoring the strength of demand in the US market.

The company noted positive trading momentum at its new flagship Rolex showroom on Old Bond Street in London. Alongside this, Watches of Switzerland said its recent acquisitions and projects—including Hodinkee and Roberto Coin—are progressing well. These moves are part of the group’s ongoing strategy to enhance its multi-brand retail offering and expand its luxury jewellery presence.

In a further development, the group confirmed the launch of a newly upgraded US ecommerce platform, set for release later this summer. The platform aims to enhance digital customer engagement and support growth in the key US market.

Chief executive Brian Duffy commented on the sustained consumer appetite for high-end timepieces, stating that “demand for key luxury brands continues to outstrip supply.” He added that while the company remains confident, it is also alert to broader macroeconomic uncertainties, including potential changes to US tariffs, which could impact trading conditions.

Following the trading update, shares in Watches of Switzerland rose by 16.27p, or approximately 4%, to reach 410.27p in early Thursday trading.