Watches of Switzerland Group issued a trading update Thursday (3 September) and struck an upbeat tone. Ahead of its first-half FY27 update that’s due in November, it said it’s seen “encouraging trading momentum” continuing and is sticking to its full-year guidance.
Watches of Switzerland
The luxury watches and jewellery retailer said performance during the 17 weeks to 30 August “remained consistent with the positive trends reported at our FY26 results, leaving us well positioned to deliver on our FY27 guidance”.
Trading in the US “remained strong” and the UK “continued to show further signs of market improvement”.
Demand was broad-based across its key luxury brands, with its “strategic growth pillars” (luxury jewellery, certified pre-owned and e-commerce) contributing “good, diversified growth across the group”.
The company has made a number of acquisitions in recent periods and said the integration of Deutsch & Deutsch is “progressing well, with a positive impact on performance”.
Its showroom development programme is also “advancing as planned”. In the US, it opened a new Watches of Switzerland multi-brand showroom in Avalon, Georgia in July, and work is under way to convert the existing Mayors Avalon showroom into a dedicated luxury jewellery location.
In the UK, Goldsmiths Chelmsford and Goldsmiths Watford reopened following refurbishment and expansion. It’s on track to deliver the remainder of its showroom pipeline as planned with Rolex Glasgow, Betteridge Greenwich (in Connecticut, not South London) and the new Watches of Switzerland and Mayors showrooms in Marlton New Jersey all expected to open before Christmas.
