Growth targets ditched by Watches of Switzerland Group
Watches of Switzerland Group is set to ditch its 2028 growth target, according to a report by Bloomberg News.
The Group had planned to more than double sales (surpassing $3.96 billion / £3 billion) and profit by 2028 — targets that it’s allegedly now dropped.
Bloomberg’s announcement, which it said came from people “familiar with the matter,” sent the company’s share price downwards.
The targets originally stem from 2023, where it unveiled a ‘long-range plan’ for financial years 2024 to 2028, with a mind to boosting growth and its share of the market.
The Bloomberg report goes on to claim that Watches of Switzerland Group will tell investors next month that it’s going to offer fewer time-bound forecasts from now on.
