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I'm in for a quick trade today anticipating rebound but may have jumped in too early judging by Wace and Qube increasing shorts after drop.
Longer term I believe the company will steadily decline but not because of demand for watches/jewellery softening - luxury market is and will remain robust despite what naysayers say. Just look at steady revenues of LVMH/Richemont/Hermes etc over last year despite global turbulence.
The WOSG problem imo is 1) over exposure to weak UK market 2) more importantly their dependence on the brands particularly Rolex for supply. Leaves WOSG very vulnerable when the companies they rely on can pull the plug at any moment. To be honest it's already happening, most have a direct to consumer offering because why wouldn't they, by cutting out the middle man they can control supply, set prices and maintain their brand strength by not being sold in a mixmatch of brands type shop.
If you want a Daytona, try Michael Spiers in the South West.
My issue with WOSG is it’s just a retailer of third party products. How long are its contracts with the suppliers, and what’s to stop them jumping in bed with someone else?
Waiting lists for lots of Rolex models (Daytonas, GMt's Subs etc) are still huge and there's people on the waiting lists been there for years. As soon as a watch comes into the store it's sold the same day after a few phone calls. Im on the list at 3 different stores for models and I haven't had a call in over 12 months. Rolex have recently ramped up production and they still can't satisfy demand. Dont believe me? Have a look on Chrono24 or other used watch websites to see how much the above second hand models sell for ABOVE the rrp. People pay thousands over RRP just to get their hands on one.
December was a washout across the UK for retail not just WOSG the data this morning confirmed it. Yesterday's sell off was a massive over reaction.
IMHO
Any thoughts from anyone other than the ‘tard?
But why? Other than just thinking the drop is overdone (which I don’t think it is; I think it’s just overdue) and you may make a quick turn? Is it just day traders here now; and those who are in too deep and are clinging on in hope? That came out a bit harsh; but my point is, with the watch bubble popping, can anyone point me in the direction of anything that would actually support an improvement in the fundamentals of this company from here and a corresponding increase in the share price. No matter what way I look at it, I can’t see it at these prices or anything close to it.
Worth buying in here at 3.50p, if it gets there.
For a quick turn, HD. Obviously some strong inside buying early next week might help the likes of JISA-boy, but IMO I agree with the other poster who sees a 360-400p range until next news. Give or take here or there, naturally.
Money, I can tell you’re gutted, so I’m going to stop winding you up.
Genuinely interested in why people are buying this? The watch market is obviously having a major correction after a massive bubble, and no one in their right mind is buying new at retail prices (at least not for investment purposes in any thing like the same numbers they were). So far as I can see this is just a boggo retailer who rode a wave but is completely dependent upon the whims of the manufacturers, with no long term security and no real advantage over competitors. For those that have just gone in, how do you think this is going to turn around? Genuine question.
I kept my promise, baby shark. I commented on the BARC chat board in late December, stating my delight about being wrong about the serious market correction happening by that point. I was. And I am. My p/f is much healthier for it. Just like your JISA is, I am sure.
Nothing wrong with being wrong. And being open about it. Try it sometime. It might set you free.
On a serious note are you ok??? It’s easy to laugh at you for totally predicting this incorrect etc but seriously having a massive financial loss is hard do
You need to talk??? We will listen.
Money, my mind changes with new information, never just stick with the same thoughts.
And don’t just assume this will go back up, look at Boo Hoo £5 a while ago 30p now
Just try not to spend all of daddy's money, or he might lock you in the basement again.
Anyway, I will let you get back to your online gaming. Good weekend all.
Hopefully this one hits my TP in the next few weeks, so I can move on to something else, and baby shark will be able to marvel at his ISA account :)
Baby shark, talking about your monthly ISA allocation deposits, while aggressively attacking other posters here who have far more credible profiles than you do. And I reckon far deeper pockets than you too. Behave.
I remember your nonsense from the BARC chat board. Let me guess? You now have a million shares in that one?
Anyway, I had a buy order here in the 380's yesterday, which means I am now a shareholder here too.
Just a small punt, so I assume we probably hold about the same number of shares at the time of print.
I was not going to post here, as I see this as a potential trade...but I feel disinclined to stay silent when I see your sort polluting these chat boards.
Broker ratings are £4 now and re rated to Hold, I would sell this dog now in six months I bet broker ratings will be saying £2.50 etc
Shut up pork chop.
TheMoneyShark
#filtered
no time for your childish nonsense
Meanwhile.....
Blackrock have reduced their overall holding but keep their lending position basically the same
TheMoneyShark, Ade1234
Get a room guys
All becoming somewhat childish, dont you think ?
Yeah you sound smart. I actually think your credibility here is now gone and everyone knows that really you’re not more but you are deep under water and you have messed up big time.
I was right you was wrong FACT!!!
Money, apparently you was buying shares yesterday at over £4 so how much money are you wasting on all these shares???
Or are you in a massive hole and lying?
Moneys putting out fires all over the place on this board. Dear oh dear money how did you get this so wrong? you should of listened to me.
Money, come on, I predicted a fairly major price fall when you was saying £8 so I might not have got it exact, but the fact I called £4.50 confirms I did better than you. And I think anyone reading this will agree with me that the point was I knew a fall was coming and your argument is that the fall was bigger than what I predicted hahaha muppet but your not just any muppet your a deep underwater one.
looking at the rns there were a some red flags.
"the uk was more challenged, and this impacted a broad range of luxury watch brands and non-branded jewellery. there was an unusually high level of promotional activity in non-branded jewellery."
meaning: all luxury branded watches didn't perform to forecast levels and our competitors discounted the **** out of their jewellery leaving us with our pants down.
"management is now providing revised full year guidance for fy24, which assumes no recovery in consumer demand and reflects discussions with key brands."
meaning: we didn't hit our sales targets with the brands so a) we are left with a shed full of unsold stock and b) the brands won't take it back like they usually do in exchange for new years models because of 'a'.
their generic jewellery offering has been poor for years. it generates very little income compared to the investment in stock and resource required to maintain it. think, for instance, holding stock of twenty odd half carrot diamond ring styles in different metals over eight sizes for lets say sixty uk stores. soon mounts up.
time to streamline the offering and reduce support staff.
Fair comment Ade. I think you're probably right.