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Watches of Switzerland to drop 2028 growth target, Bloomberg News reports - Finance news and analysis from Global Banking & Finance Review
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Watches of Switzerland to drop 2028 growth target, Bloomberg News reports

Published by Global Banking & Finance Review

Posted on June 26, 2026

1 min read

· Last updated: June 26, 2026

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Watches of Switzerland Drops 2028 Growth Target Due to Luxury Market Slump

Watches of Switzerland Revises Growth Forecast Amid Market Challenges

Background on Growth Targets

June 26 (Reuters) - Watches of Switzerland plans to drop a target to more than double sales and profit by 2028, as the luxury market has deteriorated since the forecast was set, Bloomberg News reported on Friday, citing people familiar with the matter, sending its shares down as much as 9.5%.

Market Conditions Impacting Forecast

Reuters could not independently verify the report.

Reporting Details

(Reporting by Ankita Bora in Bengaluru; Editing by Maju Samuel)

Key Takeaways

  • The company’s 2028 ambition—to more than double revenue and profit—was announced in late 2023 but is now being abandoned amid weakening market conditions (bloomberg.com).
  • Analyst concerns were already building: RBC had downgraded the firm and questioned its ability to reach long-term targets, while caution around U.S. demand and tariffs weighed on sentiment (investing.com).
  • Broader headwinds impacting the luxury watch sector—such as falling Swiss exports, U.S. tariffs, geopolitical instability and consumer caution—have intensified pressure on Watches of Switzerland’s outlook (apnews.com).

References

Frequently Asked Questions

Why is Watches of Switzerland dropping its 2028 growth target?
The company is dropping its 2028 growth target because the luxury market has deteriorated since the forecast was set.
How much did Watches of Switzerland shares fall after the report?
Shares of Watches of Switzerland fell by as much as 9.5% following the news.
Which news source reported Watches of Switzerland's decision?
Bloomberg News reported Watches of Switzerland's decision to drop its 2028 growth target.
Has Reuters verified the report about Watches of Switzerland?
Reuters stated it could not independently verify the report.

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