Watches of Switzerland Group publishes FY26 trading update transcript

  • Watches of Switzerland FY26 trading update webcast featured CEO Brian Duffy and CFO Anders Romberg, outlining sales up 13% in constant currency, up 11% reported, to GBP 1.83 billion, with adjusted EBIT expected at GBP 152-155 million.
  • US sales reached USD 1.24 billion, up 24%, lifting US to more than 50% of group sales; management cited an underdeveloped luxury watch category and resilient high-income demand, with Roberto Coin wholesale up 22% in USD.
  • UK sales rose 5% for year; management pointed to improved H2 momentum, strength at Bond Street Rolex flagship, strong e-commerce, strong luxury jewelry performance.
  • FY27 guidance set at 5%-10% sales growth in constant currency; management noted prior year had 53 weeks, implying 7%-12% on a comparable-week basis, with 40-80 bps profitability improvement.
  • Rolex Certified Pre-Owned rollout completed across US stores, with remaining UK doors to be added during FY27; management said pre-owned remained group “number two brand” category, with pricing stable versus 2022-2023 volatility.


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