Top UK Rolex Seller Drops by 33% as Watch Shoppers Retreat

Watches of Switzerland Group Plc shares plunged by a third after the top seller of Rolex watches in the UK cut its sales and growth forecasts.

The company, which just over two months ago said it was “stronger than ever” and predicted it would more than double sales and profit by 2028, blamed shifting shopping habits among well-heeled consumers and challenging macroeconomic conditions that it expects to persist.