Top Rolex Seller in UK Soars on Improving Sales Outlook
- Watches of Switzerland paid about $14 million for Hodinkee
- Company sticks to full-year guidance and expects sales growth
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Watches of Switzerland Group Plc shares soared the most since June after the top seller of Rolex watches in Britain saw a pickup in sales and reaffirmed its full-year financial guidance.
The stock climbed as much as 14% in London trading, paring its loss for this year to about 21%. The shares tumbled earlier in the year when it warned of weaker-than-expected sales and profit.