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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Watches Of Switzerland Group Plc | WOSG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -5.80 | -1.31% | 435.80 | 15:33:11 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 445.00 | 427.80 | 445.00 | 441.60 |
| Industry Sector |
|---|
| GENERAL RETAILERS |
| Top Posts |
|---|
Posted at 21/6/2024 20:19 by trying2trade The price of used watches has taken a big hit, the 'investor' buyers aren't going to be piling into these like they were. I don't expect this next set of results to be good, hoping to enter. |
Posted at 16/5/2024 14:34 by aishah As I suspected, strong US buying now. Capital Research Global Investors are major holders here. |
Posted at 16/5/2024 13:55 by z1co Watches of Switzerland shares rally on reassuring update and Duffy’s cautious optimism16 May 2024, 11:40 Sales improve in final quarter Chief executive expresses optimism Watches of Switzerland’s (WOSG) shares surged 11% to 374.5p on a reassuring fourth-quarter update in which chief executive Brian Duffy said the high-end watch and jewellery retailer entered the new financial year with ‘cautious optimism’. This followed a strong finish to the year to 28 April 2024, with fourth-quarter sales proving more resilient than feared in both the UK and US amid robust demand for key brands and an improving jewellery performance. Previous news flow from Watches of Switzerland around a slowdown in luxury retail spending had hammered the share price. This left many fund managers with red faces since the stock had been a favourite among professional investors running mid-cap portfolios, so the fact life isn’t getting worse was enough to trigger a substantial relief rally. AHEAD OF CONSENSUS Fourth-quarter sales ticked up 4% year-on-year to £380 million, ahead of the £375 million analysts were calling for, with the Rolex, Breitling and Audemars Piguet purveyor delivering continued market share gains on both sides of the pond. ‘We finished the year strongly, with Q4 sales in line with guidance and ahead of consensus,’ explained the no-nonsense Duffy. ‘Particularly pleasing was the performance in the US, with sales up 14% in the period.’ Luxury watch revenue rose 5% in the final quarter with demand for key brands remaining ‘strong’ The FTSE 250 firm also flagged a significant improvement in its jewellery performance. Jewellery sales were flat at constant currency, but this represented a sequential improvement on the 16% dip seen in the third quarter. Watches of Switzerland, which recently announced the acquisition of Italian luxury jewellery brand Roberto Coin, also confirmed its ambition to more than double sales and adjusted EBIT (earnings before interest and tax) by the end of full year 2028. CAUTIOUS OPTIMISM ‘We enter full-year 2025 with cautious optimism,’ stressed Duffy, with his charge guiding to full-year 2025 revenue of £1.67 billion to £1.73 billion, implying constant currency growth of 9% to 12%. ‘We have a terrific programme of showroom developments on both sides of the Atlantic with the Rolex flagship boutique on Old Bond Street, London; a 3,000 square foot Rolex boutique replacing the Mayors multi-brand in Atlanta, Georgia; and our first Rolex showroom in Texas in Plano. We are also looking forward to the Audemars Piguet Town House and the Mappin & Webb luxury jewellery showroom both in Manchester, and the expanded Patek Philippe space in Greenwich, Connecticut.’ Duffy added: ‘The inherent strength of the categories we operate in, coupled with our superior business model and retail expertise continues to set us apart.’ |
Posted at 20/3/2024 08:57 by primarch1 Very bought in too early hoping this might recover after directors dealing |
Posted at 05/2/2024 14:28 by fuji99 Yes. 8th of Feb. |
Posted at 25/8/2023 16:28 by elsa7878 FWIW.A broken clock is, famously, right twice a day. But in this watch-making intrigue, Rolex and the markets cannot both be right. The Swiss company, whose pricey creations grace the wrists of financiers and celebrities, insists that Bucherer – a 100-plus store chain of jewellery and watches – will remain independent. The stock market, on the other hand, seems to believe Bucherer is a stepping stone for a Rolex move into direct-to-consumer selling. Investors in Watches of Switzerland – where Rolex products account for over 50% of sales – are a case in point. Their company’s shares lost more than 20% of their value on Friday morning. That prompted WoS to put out an odd statement containing a stronger denial of Rolex’s alleged direct-sales strategy than the Swiss group’s own communiqué. The luxury watchmaker has good reasons to contemplate retailing. Relying on third-party shops means less control over brand execution and increases promotion and discount pressure. To do so, admittedly, will take time. Bucherer owns just over 100 stores globally, compared to WoS’s about 200 shops around the world. Besides, Rolex stresses that it will not be involved in Bucherer’s operation directly. In that context, Friday’s slump in WoS shares looks excessive. In the long run, though, those ambitions are a threat to WoS and other watch retailers. Rolex could easily acquire WoS. After Friday’s share price drop, WoS is valued at around 1.6 billion pounds, or 6.1 times EBITDA in the year to April 2025, using Refinitiv data. RBC analysts estimate that a buyout could be done at a multiple of 9 times, implying an enterprise value of 2.5 billion pounds. That’s a modest sum relative to the enterprise value of 4 billion Swiss francs that Vontobel analysts believe Bucherer is worth. RBC analysts estimate Rolex generated 8.8 billion Swiss francs of revenue in 2022. Putting that on the 3 times multiple of Richemont (CFR.S), its closest listed peer, would give Rolex an enterprise value of 26 billion Swiss francs. If WoS’s value keeps dropping, its shareholders might find that being gobbled up by a direct-selling Rolex is their best, and only, idea of a good time. |
Posted at 25/8/2023 08:18 by salpara111 Well as someone who is a recent investor and now substantially underwater I'm really confused as to what to to here.WOSG claims that it will not affect their business but clearly the market does not agree! I guess it will take some time to find out, not sure if I should buy more/sell/hold. I wasn't expecting such excitement for a Friday morning! |
Posted at 25/8/2023 08:11 by quidzinn Maybe septic investor is mixing WOSG with Watchfinder .....Q |
Posted at 04/7/2023 08:52 by fuji99 In their website it says 13 July. |
Posted at 19/5/2023 12:47 by johndoe23 Probably. Usual retail investor action of soiling pants over nothing! |
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