Watches of Switzerland Group (WOSG) Q1 2025 TU earnings summary

Executive summary

• Trading for the first 18 weeks of FY25 has been in line with expectations, supporting confidence in meeting full-year guidance.

• Demand for key luxury brands remains strong in both the UK and US, with supply still unable to meet demand.

• Integration of Roberto Coin Inc. is progressing well, with positive feedback and encouraging sales data.

Outlook and guidance

• On track to deliver FY25 guidance as set out at FY24 results, supported by current trading and supply confidence.

• US growth expected to be weighted toward the second half of the year.

Segment performance

• UK market has stabilized in luxury watches and jewellery after prior macroeconomic challenges.

• US showroom stock levels are being increased to enhance displays and client experience.

• Luxury branded jewellery, including new exclusive launches, has performed well globally.