Watches of Switzerland reported sales up 13% to £1.83bn for the year ending May 2026, driven by strong demand in the US.

US sales jumped 24% to £927mn, making it the group’s largest market, while UK sales rose only 5% to £901mn. Chief executive Brian Duffy said the UK still faces consumer pressure but highlighted “encouraging signs of improvement.” Adjusted operating profit reached £155mn, up from about £150mn a year earlier.

The results contrast with a broader luxury downturn; the Middle East conflict has hit peers such as LVMH and Hermès, but Watches of Switzerland has minimal exposure there. E‑commerce grew 19% and pre‑owned watch sales rose 22%. Shares rose 6% after reports of takeover talks, and the company reiterated expectations of strong revenue growth and margin expansion.