Watches of Switzerland Delivers Record FY26 Revenue as US Sales Drive Growth (WOSG)

Watches of Switzerland Group PLC (LSE:WOSG) reported record revenue of £1.83 billion for FY26, representing growth of 13% on a constant-currency basis, supported primarily by strong momentum in the United States.

US revenue increased 24% during the year and now accounts for more than half of total group sales, highlighting the growing importance of the American market to the luxury retailer’s expansion strategy. Both luxury watch and jewellery categories delivered double-digit growth, while ecommerce and pre-owned watch operations also recorded rapid expansion.

The company said adjusted EBIT is expected to come in ahead of previous guidance at between £152 million and £155 million, despite continued macroeconomic pressures in the UK market.

During the year, the group continued to invest heavily in its long-term growth strategy. This included the acquisition of Texas-based retailer Deutsch & Deutsch, which is anchored around the Rolex brand, alongside major showroom investments across both the UK and US markets. Watches of Switzerland also expanded its presence in luxury jewellery through new Roberto Coin boutiques and further development of its Rolex Certified Pre-Owned offering.

Looking ahead to FY27, management is forecasting constant-currency revenue growth of between 5% and 10%, alongside modest expansion in EBIT margins, controlled capital expenditure and continued strong cash conversion. The guidance reflects confidence in ongoing demand trends and reinforces the group’s position within the global luxury watch and jewellery sector.

The company’s broader outlook is supported by strong financial performance and positive investor sentiment, particularly surrounding its US operations. Technical indicators also remain constructive, although valuation levels and balance sheet leverage continue to warrant attention.

More about Watches of Switzerland Group PLC

Watches of Switzerland Group PLC is a specialist retailer of luxury watches and jewellery operating across the UK and United States. The group sells leading premium brands including Rolex through a network of mono-brand and multi-brand showrooms, ecommerce platforms and pre-owned watch channels, while also expanding its luxury jewellery offering in key metropolitan markets.