Watches of Switzerland increases sales by eight percent in the first half of the year

The British watch retailer Watches of Switzerland Group Plc achieved strong growth in sales and earnings in the first half of the 2025/26 financial year.

According to an interim report published on Thursday, group sales in the 26 weeks to October 26th reached 845.1 million British pounds (968.7 million euros). This corresponded to an increase of eight percent compared to the same period last year. Adjusted for exchange rate changes, revenue increased by ten percent.

The most important growth driver was the robust US market. Currency-adjusted sales there rose by 20 percent to 409 million British pounds. This market accounted for 48 percent of group sales and also contributed almost 60 percent of the operating result adjusted for special effects.

Due to slightly lower margins, earnings before interest, taxes, depreciation and amortization (EBITDA) at group level, adjusted for special effects, only grew by four percent to 90.8 million British pounds. The reported net profit amounted to 44.4 million British pounds (50.9 million euros), exceeding the corresponding previous year’s level by 53 percent.

CEO Brian Duffy welcomed the US government’s recent decision to reduce tariffs on imports from Switzerland. This is “a positive development for the industry,” he explained in a statement.

Duffy was also satisfied with the current business. “The second half of the year started well,” he emphasized. “Sales are in line with expectations and we are well positioned for the start of the Christmas business.”

Accordingly, the company left its forecasts for the full year unchanged. Currency-adjusted sales growth of six to ten percent is still expected.