Watches of Switzerland reports a 40% drop in profits to £92M amid UK luxury watch market recovery.
Watches of Switzerland, a major global seller of Rolex watches, reports a 40% drop in profits to £92M for the year ending April 28, but remains "cautiously optimistic" about an improvement. The UK's luxury watch market is starting to recover after years of faltering consumer confidence. Chief executive Brian Duffy said: "The UK market is starting to show signs of stabilisation."
June 27, 2024
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