Watches of Switzerland shares rise as UK stabilises and USA surges ahead
Watches of Switzerland Group has experienced a notable rise in shares by nearly 5% following the announcement of its financial results for the first half of the 2026 financial year, indicating strong performance despite the challenges posed by tariffs. The company's sales reached £845 million ($1.1 billion), benefitting from a 20% growth in the U.S. market while the UK saw a modest 2% increase. The U.S. now accounts for nearly 60% of the company's profitability, with the recent reduction in tariffs on Swiss watches expected to further bolster sales. The company has taken proactive measures by trimming its net debt and closing underperforming stores, allowing it to maintain robust profit margins. With a positive outlook for the second half of the financial year, Watches of Switzerland is well-positioned for the holiday trading period and remains confident in achieving its growth targets, despite ongoing external economic uncertainties.
