Watches of Switzerland on track to meet FY guidance

3rd Sep 2024 07:02

(Sharecast News) - Luxury timepiece seller Watches of Switzerland said it was on track to meet annual guidance after trading for the first 18 weeks of the financial year had been in line with expectations.

The company on Tuesday said demand for key luxury brands, particularly products on registration of interest lists, remained strong in both the UK and US markets, outstripping supply.

"Over the period, we have seen continued stabilisation of the UK market in both luxury watches and jewellery following a period of challenging macroeconomic conditions in the prior financial year. In the first half of full-year 2025, we are increasing showroom stock levels in the US to enhance displays and client experience," WoS said in a trading statement.

"As previously indicated, we expect US growth to be second half weighted."

Reporting by Frank Prenesti for Sharecast.com