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Business Summary: Watches of Switzerland Group PLC is a United Kingdom-based luxury watch retailer. The Company operates in the United Kingdom, United States and Europe comprising six brands: Watches of Switzerland (United Kingdom and United States), Mappin & Webb (United Kingdom), Goldsmiths (United Kingdom), Mayors (United States), Betteridge (United States), and Analog:Shift (United States), with a complementary jewelry offering. Its estate includes multi-brand showrooms and mono-brand boutiques in the United Kingdom, Europe, and the United States, supported by ecommerce platform. The Company has approximately 222 showrooms across the United Kingdom, United States and Europe, including 98 mono-brand boutiques in partnership with Rolex, OMEGA, TAG Heuer, Breitling, TUDOR, Audemars Piguet, Grand Seiko, BVLGARI and FOPE. It also has presence in Heathrow Airport with representation in Terminals 2, 3, 4 and 5 as well as seven retail websites.
Financial Summary: BRIEF: For the 26 weeks ended 29 October 2023, Watches of Switzerland Group PLC revenues decreased less than 1% to L761.4M. Net income decreased 27% to L47M. Revenues reflect US segment increase of 5% to L327.8M, US segment increase of 5% to L327.8M, Retail Sales US watch & jewellery increase of 5% to L327.8M, also reflect UK segment decrease of 4% to L433.6M, U.K segment decrease of 4% to L433.6M.