Watches of Switzerland sticks with targets after tough year

Watches of Switzerland's (WOSG) shares gained more than 10 per cent after management said the UK market "is starting to show signs of stabilisation" and reiterated targets to more than double revenue and profit between 2023 and 2028. The luxury watch retailer's annual performance weakened as expected, with adjusted operating profits down 18 per cent to £135mn after a period characterised by big price increases and muted consumer confidence, but investors were also cheered by progress in the US.