Watches of Switzerland lifts its outlook as US sales jump 22%
Britain’s biggest Rolex seller now expects revenue growth at the top of its 7–10% range; the CEO still warns of uncertainty before Christmas.
Watches of Switzerland Group, Britain’s largest Rolex retailer, raised its full-year outlook on Tuesday, 10 November, after strong sales in the US and UK, Bloomberg reported via The Business of Fashion. The company now expects revenue growth of 7% to 10% this fiscal year, shifting guidance to the upper end of its previous range. In the first half, revenue grew 22% at constant currency in the US — helped by its acquisition of Deutsch & Deutsch — and 9% in the UK.
The results point to a recovery in the Swiss watch market after last year’s turmoil over US tariffs; Swiss watch exports grew for a fifth straight month in September, led by the US. The shares rose as much as 5.3% in early London trading and were up 57% this year through Monday.
Chief executive Brian Duffy nevertheless warned of economic uncertainty ahead of Christmas. Barclays analyst Richard Taylor called the cautious tone “appropriately prudent” ahead of the peak holiday season.
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