Watches of Switzerland Group (WOSG) Trading update summary

Trading performance and outlook

• Trading momentum remained strong in the 17 weeks to 30 August 2026, with positive trends continuing from FY26 and robust performance in both the US and UK markets.

• Broad-based demand across key luxury brands and growth pillars such as luxury jewellery, certified pre-owned, and ecommerce contributed to diversified growth.

• Integration of Deutsch & Deutsch is progressing well, positively impacting overall performance.

• Confidence is reinforced in achieving strong revenue growth and EBIT margin expansion for FY27.

Showroom development and expansion

• US showroom expansion included a new multi-brand location in Avalon, Georgia, and ongoing conversion of Mayors Avalon to a luxury jewellery showroom.

• UK showrooms in Chelmsford and Watford reopened after refurbishment and expansion.

• Additional showrooms, including Rolex Glasgow and Betteridge Greenwich, are on track to open before Christmas.

Financial guidance for FY27

• Revenue growth is guided at 5–10% at constant currency, with adjusted EBIT margin expected to expand by 40–80bps from FY26.

• Capex is projected at £60–£70 million, and free cash flow conversion is expected to be around 70%.

• Guidance is provided on both pre-IFRS 16 and IFRS 16 bases, with exposure to £/$ exchange rate movements noted.