Watches of Switzerland reported that its recent profit growth was significantly bolstered by robust demand from affluent shoppers in the United States.
The retailer noted that while consumer pressure persists in the UK market, there are emerging signs of improvement, with US sales providing a crucial counterbalance to domestic headwinds.
Shares in the luxury retailer have surged in recent trading, climbing as much as 8% to reach 778.
Shares in the luxury retailer have surged in recent trading, climbing as much as 8% to reach 778.5p, a three-year high.
This rally follows reports that the company’s board has been engaged in discussions with potential acquirers over recent months.
The fresh update on US-driven profitability adds weight to the investment thesis for buyers, suggesting the business retains strong cash-generative capacity despite broader economic uncertainty in its home market.
The divergence between UK and US consumer behavior is a key theme for luxury retailers operating across both regions.