Watches of Switzerland news and archive

Watches of Switzerland issues profit warning despite ‘strong’ demand

Watches of Switzerland has outlined a more “cautious” outlook for the fiscal year of 2024 after it said it was expecting “challenging conditions” to continue for the remainder of the period. This comes despite a positive start to the early part of Q3 FY24, the company noted, after which it then went on to see a “volatile trading performance in...

Business

Watches of Switzerland records flat sales growth, profit drops

Watches of Switzerland revenues for the first six months of 2024 reached 761 million pounds, up 2 percent at constant currency and flat at reported rates. The company said in a statement that it witnessed continued growth in luxury watches with the reduction in the broader jewellery market reflecting temporary softer consumer sentiment and a...

BusinessFeatured

Watches of Switzerland posts sales growth, maintains outlook

Second quarter revenue at Watches of Switzerland Group of 379 million pounds, rose 5 percent at constant currency and 1 percent at reported rates. The company continues to forecast revenue growth between 8 to 11 percent constant currency and revenues in the range of 1.65 to 1.70 billion pounds for fiscal 2024. Commenting on the trading update,...

Business

Watches of Switzerland posts record FY revenue as profits widen

Watches of Switzerland has hailed a record year for revenue, which was up 25 percent on a reported basis and 19 percent on a constant currency basis from the prior year. The London-listed group made revenue of 1.54 billion pounds in the year to April 30, with sales in its luxury watch division up 28 percent - and representing 87 percent of total...

Business

Watches of Switzerland Q3 revenue up 17 percent

Watches of Switzerland has reported revenue of 407 million pounds in the third quarter, up 17 percent from a year earlier, or up 12 percent at constant currency rates. Performance in the quarter was driven by the group’s luxury watches division, where demand continues to exceed supply. Luxury watches sales increased 22 percent year-on-year to...

Business

Watches of Switzerland reports increase in H1 revenue, profit

Watches of Switzerland has reported an increase in revenue and profit in the first half of the year. The London-listed group made revenue of 765 million pounds in the six months to October 30, up 31 percent from the prior year, or up 23 percent at constant exchange rates. It said it experienced continued strong demand across its luxury watches...

Business

Watches of Switzerland Q1 revenue up, but warns of potential challenges in H2

Watches of Switzerland has reported revenue of 391 million pounds in the first quarter ended July 31, up 25 percent at constant currency and up 31 percent at reported rates. Luxury watches revenue was up 32 percent to 342 million pounds, while luxury jewellery revenue grew 36 percent to 27 million pounds. Breaking it down by geography, revenue...

Business

Watches of Switzerland upbeat on robust Q4, FY results

Watches of Switzerland has reported robust trading in the fourth quarter and full year ended May 1 as footfall continued to recover following the end of lockdowns. In the three months to May 1, group revenue increased by 48 percent year-on-year to 304 million pounds, with US revenue up 50 percent to 136 million pounds, and UK revenue up 47...

People

Watches of Switzerland announces number of key appointments

The Watches of Switzerland Group has announced a number of top appointments to its management team, including a new non-executive director and new deputy CEO. Chabi Nouri has been appointed as a new independent non-executive director and a member of the company's ESG committee, effective May 1. Nouri has more than 20 years of experience in...

Retail

Watches of Switzerland announces major U.S. expansion

As part of its continued development of the North American market and in line with its Long Range Plan released in July 2021, The Watches of Switzerland Group has announced its largest expansion plan since its entry into the US in 2017. The company has acquired marquis properties held by three of the country’s leading timepiece retailers,...

People

Watches of Switzerland appoints non-executive chairman

Watches of Switzerland has appointed Ian Carter as non-executive chairman of the board, effective 1 November 2020. Carter has over 30 years of international and retail experience and has for the past 15 years been CEO of multinational hospitality company Hilton International. He has also worked on the board of Burberry, a position he held...