Watches of Switzerland reaffirms FY25 guidance on strong Q3

Watches of Switzerland, the UK’s leading retailer of Rolex and Omega watches, reported that third-quarter holiday trading in both the UK and US met expectations, reaffirming its full-year 2025 guidance.

The company noted continued strong demand for key luxury brands, especially those on waitlists, exceeding supply in both markets. The UK market showed further stabilization in both luxury watches and jewelry, while the US market maintained its momentum.

Watches of Switzerland expressed confidence in achieving its FY25 targets, citing its performance over the first nine months, supply visibility, upcoming showroom openings, and anticipated new product launches.

Key showroom developments during the quarter included the relocated and expanded Mayors Tampa (Florida) and Betteridge Vail (Colorado) locations.

Planned Q4 FY25 projects include new Rolex agencies in relocated Watches of Switzerland (Plano, Texas) and Mayors (Jacksonville, Florida) showrooms, and the conversion of the Mayors Lenox (Atlanta) showroom into a 3,000 sq. ft. Rolex boutique. A new flagship Rolex boutique in London’s Old Bond Street is slated to open in early March 2025.

The company is also currently integrating its recent acquisitions of Hodinkee and Roberto Coin.

Retail expert David Hughes of Shore Capital commented that the positive trading update and maintained guidance should provide reassurance, particularly given the current economic outlook for the UK and recent profit downgrades from other retailers.