WOSG reports FY26 financials against backdrop of sale speculation

Watches of Switzerland Group PLC has released its FY26 results for the 53 weeks ended 3 May 2026, reporting record revenue and growing operating profit.

Turnover climbed 11% to £1.828 billion (up 13% in constant currency), while operating profit grew an impressive 49% to £170 million.

These positive results come against the backdrop of speculation that the company may be on the lookout for a buyer, with the share price up 7% yesterday.

A significant — and somewhat inevitable — development is that the US has overtaken the UK as being the group’s largest market, in both revenue and profit terms. US revenue jumped 18% to £927.2 million (24% in constant currency), which represents 51% of group revenue.

UK and Europe (dominated by the UK, as the company no longer trades in Europe) revenue rose a more modest 4% to £900.7 million (up 7% when adjusting for showroom closures), with the sting of the 2021 decision to end VAT rebates for non-EU tourists still being felt.

A stand-out driver of revenue was the group’s pre-owned offering, underpinned by its Rolex Certified Pre-Owned programme). Pre-owned now represents over 8% of total luxury watch revenue for the company.

Deutsch & Deutsch, the Texas-based Rolex AD that WoSG acquired in January 2026, contributed £16.4 million in revenue in the few months since the takeover. 

“FY26 was a year of strong execution against a complex operating backdrop,” said Brian Duffy, the group’s CEO. “This performance is testament to the agility of our business model, our strong relationships with brands and the strength of our teams, who have executed well. 

“We have prioritised our highest-return opportunities, investing in our showroom estate and digital capabilities, driving productivity and broadening our client proposition. The Deutsch & Deutsch integration is progressing well, Certified Pre-Owned continues to gain traction, Roberto Coin is building momentum, and our ecommerce investment is extending our reach with clients,” he continued.

“We see a substantial runway for long-term growth, in both revenue and profit. The US represents a major opportunity, with considerable potential for further growth and market share gains. 

“In our home market, the UK, the trading backdrop is showing encouraging signs of improvement, and I would like to thank our teams across the US and UK for the outstanding service they continue to provide to clients.”

Looking ahead to FY27, WOSG reconfirmed its organic guidance of 5% to 10% revenue growth at constant currency.