LONDON — Watches of Switzerland, the publicly listed watch and jewelry retail group, plans to shut 16 showrooms in the U.K. and eliminate 40 roles as part of a plan to streamline the business.

Watches of Switzerland saw its share price drop more than 15 per cent, while Burberry’s share price fell by nearly seven per cent. “There are heavy losses for the luxury sector,” Kathleen ...

Luxury watches retailer Watches of Switzerland has announced the impending closure of 16 of its showrooms in the UK, placing several positions in jeopardy, according to a report from the BBC.

The share prices of high-end retailers Watches of Switzerland and Burberry both slid today in the wake of Trump’s tariff announcement. Watches of Switzerland saw its share price drop more than ...