Business
FY26 Trading Update
Watches of Switzerland Group PLC reported record Group revenue of £1.8 billion for the 53 weeks to May 3, 2026, a 13% increase in constant currency, driven significantly by a 24% surge in US revenue to $1.24 billion, now representing over half of Group sales. Adjusted EBIT is expected to be between £152 million and £155 million, exceeding previous guidance. The company anticipates FY27 revenue growth of 5-10% in constant currency, with an adjusted EBIT margin expansion of 40-80 basis points. Strategic progress includes the acquisition of Deutsch & Deutsch, showroom investments totaling £67 million, and strong performance in luxury watches and pre-owned sales. Disclaimer*
About this update from Watches Of Switzerland Group Plc
[{"type":"text","content":"\n\n14 May 2026\n\n \nWatches of Switzerland Group PLC\nFY26 Trading Update\nfor the 53 weeks to 3 May 2026\n \nRecord Group revenue in FY26, driven by US\nFY27 growth outlook underpinned by sales momentum and improving profitability\n \n \nBrian Duffy, Chief Executive Officer, said:\n \n\"FY26 marks another year of record revenue performance, up 13% in constant currency1 to £1.8 billion, with growth accelerating across the business and strong underlying momentum as we continue to scale. FY26 Adjusted EBIT is expected to be £152 - £155 million, ahead of previous guidance. I would like to thank my colleagues for their continued commitment to delivering exceptional client service, which remains central to our success. \n \n\"The US continues to be the primary engine of growth, with revenue up 24% in constant currency to $1.24 billion and now accounts for over half of Group sales. This is a major milestone in the world's largest and fastest growing luxury watch market, achieved in just over eight years from entering the US. In the UK, performance has improved despite the challenging macroeconomic backdrop, with resilient demand for luxury watches and jewellery.\n \n\"Looking ahead, we enter FY27 with confidence and strong momentum, supported by the strength of our differentiated model, our leading market position, and the enduring demand across the luxury categories in which we operate. Our growth pillars across the Group provide a clear runway for further progress, and with a strong pipeline of showroom projects in both the UK and US, alongside the recently acquired Deutsch & Deutsch locations, we are well positioned to build further on our success.\"\n \nFY26 trading update\n \n· Full year Group revenue of £1,828 million, +13% vs prior year in constant currency (+11% reported)\no Excluding the FY26 53rd week, Group revenue was +11% in constant currency (+8% 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\no Luxury watch revenue +13% in constant currency\no Luxury jewellery revenue +18% in constant currency\n· US revenue +24% in constant currency (+18%...