Watches of Switzerland maintains fiscal 2026 outlook

Watches of Switzerland reports a strong performance for the 18 weeks ending August 31, 2025, with results in line with fiscal year 2026 expectations. The company experienced robust trading, particularly in the U.S., despite the announcement of new tariffs on Swiss imports. The UK luxury market has also remained stable, contributing to solid year-on-year growth.

The London-based luxury-watch retailer continues to expects constant-currency revenue growth between 6 percent to 10 percent for the year ending in April, while adjusted earnings before interest and taxes margin could witness a 100 basis point decline from 9.1 percent in fiscal 2025.

The company's new flagship Rolex Boutique in London is exceeding expectations, and its Certified Pre-Owned business is performing well in both the UK and U.S. E-commerce sales have also shown positive growth, especially in the U.S. following a website upgrade.

Looking forward, Watches of Switzerland is expanding its portfolio with three new Roberto Coin boutiques in the U.S. and continuing its showroom development program with several refurbishments and new openings in both the UK and U.S. The company does not foresee a material impact from U.S. tariffs in the first half of the fiscal year due to increased brand partner inventories.