Business
FY25 Trading Update
FY25 Trading Update.
About this update from Watches Of Switzerland Group Plc
[{"type":"text","content":"\n\n15 May 2025\n\n \nWatches of Switzerland Group PLC\nFY25 Trading Update\nfor the 52 weeks to 27 April 2025\n \nFull year performance in line with market expectations1\nStrong strategic and operational progress with significant performance improvement in H2\n \nBrian Duffy, Chief Executive Officer, said:\n\"In H2 FY25 we returned to growth in both the UK and US, delivering Group revenue of +12%, driving a full-year performance of +8% (constant currency). Full year Adjusted EBIT2 is expected to be in line with market expectations.\n \n\"In the US, we experienced strong momentum, delivering +19% revenue growth in H2 FY25 and +16% for the full year (constant currency). In the UK, we were pleased to see the external environment stabilise in line with our expectations, supporting revenue growth of +6% in H2 FY25 and +2% for the full year.\n \n\"A highlight for our Group in H2 FY25 was the opening of the new flagship Rolex boutique on Old Bond Street, London, in which we were able to bring our retailing excellence and operational strength to bear. Trading since launch has exceeded our expectations. We delivered several key Rolex projects in the US, including the brand's introduction in Plano, Texas, its reintroduction in Jacksonville, Florida, and the conversion of Mayors Lenox in Atlanta into a 3,000 sq. ft Rolex boutique.\n \n\"As we look ahead, we remain confident in the strength of our business model, our strong pipeline of showroom openings and the resilience of the luxury watch category where demand for key brands continues to outstrip supply. We are of course mindful of the broader macroeconomic and consumer environment, including potential US tariff changes.\"\n \nFY25 trading update\n· Full year Group revenue of £1,652 million, +8% vs last year in constant currency (+7% reported), in line with market expectations\no UK & Europe revenue +2%\no US revenue +16% in constant currency (+14% reported)\n· Demand for our key luxury brands, particularly products on Registration of Interest lists, remains strong, outstripping supply in both the US and UK markets\n· Improved second half performance with Group revenue +12% in H2 FY25 vs +4% in H1 FY25 vs prior year (constant currency)\no US revenue improved to +19% in H2 FY25 vs +11% in H...