Watches of Switzerland Group PLC wound its full-year sales guidance higher following better trading during the key holiday quarter, driven by buoyant demand from both its US and UK businesses.
The FTSE 250 group expects sales for the 2026 financial year to rise between 9% and 11% in constant currency, compared with previous guidance of 6-10%.
However, it trimmed its profit margin forecast slightly, citing brand margin changes, product mix and one-off costs tied to ecommerce, debtor provisions and the acquisition of four showrooms in Texas.
Sales in the 13 weeks to 25 January 2026 grew ahead of internal expectations, the group said, not giving an precise number but noting continued strength in luxury watch demand, particularly for brands such as Rolex.
"Demand for the group's key luxury brands remains strong and continues to outstrip supply in both the UK and US markets," WoS said.
The US market was a key driver, with broad-based growth across brands and price points, helped by a recent marketing push behind Italian jewellery label Roberto Coin, along with investments in store experience and merchandising.
In the UK, trading conditions were "consistent with recent periods", where trading has been more modest than across the Atlantic. The Rolex boutique on Old Bond Street maintained "excellent momentum", serving as a model for improvements elsewhere in the estate.
Strong results were also seen at its certified pre-owned business on both sides of the pond.
“It is particularly pleasing to be achieving these results despite an unusually volatile operating environment, including macroeconomic uncertainty and tariffs," said chief executive Brian Duffy.
"Looking ahead we remain focused on further cementing our market position across both the US and UK, underpinned by our differentiated model, long-standing brand partnerships and disciplined execution."