6th Feb 2025 09:24
(Alliance News) - Watches of Switzerland Group PLC on Thursday said it remains on track to deliver prior guidance for financial 2025, after strong third-quarter demand in both the UK and the US.
The Leicester, England-based watch retailer said it enjoyed "good" trading during the three months that ended January 26.
As a result, it made no changes to the guidance for the year due to end in April that it set out in its interim results. The firm forecasts full-year revenue between GBP1.67 billion and GBP1.73 billion, which is up 12% at best from GBP1.54 billion the year before.
"Demand for our key luxury brands, particularly products on Registration of Interest lists, remains strong, outstripping both the US and US markets," said Watches of Switzerland.
"We continue to be encouraged by the performance of our pre-owned businesses and the strong performance of the Roberto Coin brand in North America.
"Over the period, we have seen further stabilisation of the UK market in both luxury watches and jewellery, while the US market has seen continued momentum. In addition, our differentiated business model, alongside the continued investment in our showroom portfolio, has driven market share gains in both the UK and US."
Shares in Watches of Switzerland were up 0.6% at 558.50 pence in London on Thursday morning.
By Emily Parsons, Alliance News reporter
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