Nov 10 (Reuters) – Luxury retailer Watches of Switzerland Group on Tuesday raised the lower end of its annual outlook after strong first-half trading, driven by robust demand in the US and Britain.
• The Leicester-based company expects revenue growth of 7%-10% at constant currency for fiscal 2027, up from its previous forecast of 5%-10%, and adjusted EBIT margin expansion of 60-80 basis points from fiscal 2026, compared with its prior outlook of 40-80 basis points
• Watches of Switzerland has limited direct exposure to the Middle East, where geopolitical tensions have weighed on parts of the luxury sector
• “As we head towards the important holiday season, trading momentum remains good in both markets, but we continue to plan prudently,” the company said
• It also expects adjusted operating profit of between £87 million ($116.99 million) and £89 million for the half-year period ended November 1, compared with £66 million reported a year earlier
($1 = 0.7437 pounds)
(Reporting by Ankita Bora in Bengaluru; Editing by Sherry Jacob-Phillips)
