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Business Summary: Watches of Switzerland Group PLC is a retailer of watches in the United Kingdom, United States and Europe. The Company also offers jewelry, fashion and classic & luxury watches and a range of watch and jewelry aftercare services to its customers. The Company comprises five brands: Watches of Switzerland (UK and US), Mappin & Webb (UK), Goldsmiths (UK), Mayors (US) and Betteridge (US), with a complementary jewelry offering. The Watches of Switzerland Group has approximately 192 showrooms across the United Kingdom, United States and Europe including 77 dedicated mono-brand boutiques in partnership with Rolex, OMEGA, TAG Heuer, Breitling, TUDOR, Audemars Piguet, Grand Seiko, BVLGARI and FOPE and has a 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.