Watches of Switzerland reported that its recent profit growth was driven by robust demand from affluent shoppers in the United States, providing a crucial counterweight to ongoing economic headwinds in its domestic UK market.
The retailer acknowledged continued pressure on British consumers but noted emerging signs of improvement in the local market.
5p, climbing as much as 8%, after reports emerged that the board had been in discussions with potential acquirers over recent months.
This geographic diversification in revenue streams has become a key narrative for the company as it navigates a challenging macroeconomic environment in Europe.
The news arrives as speculation intensifies regarding the company's future ownership.
Shares in the luxury retailer previously surged to a three-year high of 778.5p, climbing as much as 8%, after reports emerged that the board had been in discussions with potential acquirers over recent months.
The combination of resilient US sales and active M&A interest suggests that investors view the company as a strategic asset, potentially offering stability and growth opportunities for a buyer despite the softer UK retail climate.