Luxury watch retailer Watches of Switzerland reported record revenue and profits for its fiscal year, driven by continued strong demand in the United States, while preliminary discussions regarding a potential takeover bid have recently fueled investor interest.
Watches of Switzerland closed out the 2026 fiscal year with historic results. The group’s revenue reached 1.83 billion pounds, representing an increase of 11% on a reported basis and 13% at constant exchange rates, exceeding analysts’ consensus estimate of approximately 1.82 billion pounds.
Adjusted operating profit came in at 155 million pounds, compared with an average estimate of 148.4 million pounds. Adjusted EBITDA reached 202 million pounds, up 5%, although the EBITDA margin narrowed slightly to 11.1%, down from 11.6% a year earlier, driven in particular by rising gold prices and costs related to the group’s investments.
The United States: a growth driver
The group’s momentum now relies heavily on the U.S. market. Sales there surged by 24% year-over-year, making the United States its largest market, now accounting for more than half of total revenue.
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