Overview
- Group revenue rose 8% to £845 million for the six months to October 26, with U.S. sales up 15% to £409 million.
- The U.S.–Switzerland agreement in mid-November reduced proposed tariffs on Swiss goods from 39% to 15%, easing a key policy overhang for watch exporters.
- The company reported no significant change in consumer behavior after initial tariffs, noting brand partners’ inventory build helped shield first-half sales.
- The U.S. remains the primary profit engine for the retailer, contributing nearly 60% of overall profitability.
- U.S. momentum was supported by stronger sales from the Roberto Coin business acquired last year, and shares saw modest intraday moves on the update.