Watches of Switzerland Profits Leap 76%

(IDEX Online) - Watches of Switzerland (WoS) saw a leap in statutory pre‑tax annual profits of 76%, up to £133 million (USD 170 million) amid growing speculation of a possible buyout by private equity funds and strategic bidders.

The UK-based company, which operates around 200 outlets in the UK, US and Europe, reported group revenue of £1.83 billion (USD 2.3 billion) in the 53 weeks to 3 May 2026, a reported year-on-year increase of 11% (13% in constant currency).

Reuters and other sources report that WoS has already held talks with potential bidders about a take‑private deal, and that the company is informally signaling the sort of price it would accept.

Sales grew, but margins and cost leverage improved even more in what CEO Brian Duffy described as a year of "strong execution against a complex and changeable operating backdrop".

US‑related brand and tariff changes affected retailer margin structures, supporting profitability alongside top‑line growth.

Revenue in the US market was up 24% in constant currency (18% reported), reaching £927 million (USD 1.2 billion), compared to more modest growth of around 5% in the UK and flat performance in Europe.

"This performance is testament to the agility of our business model, our strong relationships with brands and the strength of our teams, who have executed well," said Duffy.

"We have prioritized our highest-return opportunities, investing in our showroom estate and digital capabilities, driving productivity and broadening our client proposition."

He said the group has a substantial runway for long‑term growth in both revenue and profit, and highlighted the US - now accounting for just over half of group revenue and close to two‑thirds of adjusted EBIT - as a major opportunity.