Watches of Switzerland lifts outlook after 15% growth

Watches of Switzerland reported first-half fiscal 2027 revenue of £974 million, up 15%, as strong demand in the U.S. and U.K. lifted adjusted operating profit by about 28%. U.S. revenue reached £501 million, supported in part by the Deutsch & Deutsch acquisition, while U.K. revenue totaled £473 million; luxury jewellery grew 19%, ahead of 15% growth in watches. The retailer expects first-half adjusted EBIT of £87 million to £89 million and said net debt fell to £24 million from £112 million a year earlier. It raised its full-year revenue growth outlook to 7%–10% from 5%–10% and now expects adjusted EBIT margin expansion of 60–80 basis points, versus its previous 40–80 basis-point forecast, citing confidence after results came in slightly ahead of expectations despite macroeconomic uncertainty.