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Watches of Switzerland’s US Sales Jump 18%, Declines to Comment on Sale Report
The watch and jewelry retailer had a strong fiscal year despite what its CEO described as a “complex operating backdrop.”
The Watches of Switzerland store in the Mall of America. The watch and jewelry retailer reported an 11 percent increase in revenue in its recently concluded fiscal year, with sales in the U.S. market climbing nearly 20 percent.
Braunstone, England—Watches of Switzerland recorded a double-digit increase in sales in its recently concluded fiscal year and views the U.S. market as a “major opportunity” for growth and market share gains.
For the fiscal year 2026 ended May 3, the watch and jewelry retailer reported that U.S. sales increased 18 percent year-over-year (24 percent in constant currency terms) from £786 million ($1.1 billion) to £927 million ($1.25 billion).
That figure includes £811 million ($1.1 billion) in sales at Watches of Switzerland’s U.S. retail stores—up from £681 million ($915 million) in fiscal year 2025—plus £126 million ($169 million) in Roberto Coin wholesale revenue, up from £110 million ($148 million) last year.
Watches of Switzerland acquired the U.S. division of Roberto Coin in 2024 for $130 million. The deal gave the retailer exclusive distribution rights for Roberto Coin jewelry in the United States, Canada, the Caribbean, and Central America.
Total sales for Watches of Switzerland, including its U.K. division, reached £1.83 billion ($2.45 billion), up 11 percent year-over-year (13 percent on a constant currency basis).
U.K. sales increased 5 percent year-over-year in both reported and constant currency terms, reaching £901 million ($1.21 billion).
Adjusted EBIT increased 3 percent (6 percent in constant currency terms), and operating profit jumped 49 percent.
Meanwhile, the company’s net debt shrank from £96 million ($129 million) to £57 million ($77 million), the result of “the discipline and momentum in the business.”
“FY26 was a year of strong execution against a complex operating backdrop,” Watches of Switzerland CEO Brian Duffy said in a news release, noting tariffs as well as the “continued pressure” on consumers in the U.K.
“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.”
The company’s guidance for fiscal year 2027 remained unchanged from what it provided when it reported its fourth-quarter results—revenue growth of 5-10 percent on a constant currency basis.
“Whilst we remain mindful of the geopolitical environment, we have carried good U.S. momentum into the new year and see encouraging signs the U.K. market,” the company said, noting that it does “minimal” business in the Middle East or with tourist consumers, both segments that are struggling right now.
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For the fiscal year 2026 ended May 3, the watch and jewelry retailer reported that U.S. sales increased 18 percent year-over-year (24 percent in constant currency terms) from £786 million ($1.1 billion) to £927 million ($1.25 billion).
That figure includes £811 million ($1.1 billion) in sales at Watches of Switzerland’s U.S. retail stores—up from £681 million ($915 million) in fiscal year 2025—plus £126 million ($169 million) in Roberto Coin wholesale revenue, up from £110 million ($148 million) last year.
Watches of Switzerland acquired the U.S. division of Roberto Coin in 2024 for $130 million. The deal gave the retailer exclusive distribution rights for Roberto Coin jewelry in the United States, Canada, the Caribbean, and Central America.
Total sales for Watches of Switzerland, including its U.K. division, reached £1.83 billion ($2.45 billion), up 11 percent year-over-year (13 percent on a constant currency basis).
U.K. sales increased 5 percent year-over-year in both reported and constant currency terms, reaching £901 million ($1.21 billion).
Adjusted EBIT increased 3 percent (6 percent in constant currency terms), and operating profit jumped 49 percent.
Meanwhile, the company’s net debt shrank from £96 million ($129 million) to £57 million ($77 million), the result of “the discipline and momentum in the business.”
“FY26 was a year of strong execution against a complex operating backdrop,” Watches of Switzerland CEO Brian Duffy said in a news release, noting tariffs as well as the “continued pressure” on consumers in the U.K.
“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.”
The company’s guidance for fiscal year 2027 remained unchanged from what it provided when it reported its fourth-quarter results—revenue growth of 5-10 percent on a constant currency basis.
“Whilst we remain mindful of the geopolitical environment, we have carried good U.S. momentum into the new year and see encouraging signs the U.K. market,” the company said, noting that it does “minimal” business in the Middle East or with tourist consumers, both segments that are struggling right now.
Watches of Switzerland reported its fiscal year 2026 results Tuesday morning, one day after Reuters published a report claiming the retailer has been courting offers from private equity firms and other bidders to buy the company and take it private.
Duffy declined to comment on the report on the company’s earnings call Tuesday morning.
Based in the U.K., Watches of Switzerland had, as of May 3, 191 stores in the U.K. and U.S., including 81 monobrand boutiques operated in partnership with the following: Rolex, Omega, TAG Heuer, Breitling, Tudor, Longines, Grand Seiko, Roberto Coin, Bulgari, and Fope.
In addition to Watches of Switzerland stores, the company has Mayors, Betteridge, and Deutsch & Deutsch stores in the U.S., and owns the e-commerce site Analog:Shift as well as the watch news platform Hodinkee.
Deutsch & Deutsch is an independent jeweler with four stores in Texas. Watches of Switzerland signed an agreement to acquire an 88 percent stake in the retailer earlier this year.
On Tuesday, the company said the integration of Deutsch & Deutsch was “progressing well.”
Watches of Switzerland sits at No. 10 on National Jeweler’s 2026 $100 Million Supersellers list, which ranks the top sellers of jewelry and watches in North America by annual revenue.
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