Scancell founder says the company is ready to commercialise novel medicines to counteract cancer. Watch the video here.
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With five stores at Heathrow this is a small chink of light
https://www.standard.co.uk/business/business-news/heathrow-records-highest-february-passenger-numbers-b1144434.html
Looks like yesterdays exercise was to push down to load up, looking at todays rise
Shame the retailers have been just a bit too busy psssng off genuine people who dont want to play lick arss to buy a damn watch
Yep. Fair play to the longs here. And to the BOD, for those inside buys.
I did not think the bottom was in yet...but as soon as Mary posted she had entered, I should have accepted I was wrong about that! Good weekend all.
Isn’t it funny how quiet these BB’s get when the share price starts going up? Lovely movement and still good value.
My local dealer has had some gold models ready to roll for some time - including a gold Daytona. Stainless steel ones still like gold dust new though.
I went in to my local WOSG store today (Goldsmiths) and they actually had 6 Rolex watches for sale alongside the demo stock! In amongst them were two Sky Dwellers, a Yachtmaster and an all Rose Gold GMT. What surprised me was the GMT. Years ago you would see all gold models for sale quite regularly but over the past few years even these have been hard to buy and normally involved waiting 12 months plus. Just goes to show demand is slowing down and the market isn't what it used to be.
Pre Covid they could buy whatever they wanted whenever they wanted, with a few exceptions. It’s only the bubble that has changed that. Either way, combine that with the tax regime as it is and the UK side of things isn’t going to improve quickly. Hopefully they make hay in other markets, but the UK position must be unbelievably frustrating.
There's a lot more to it than that. Wealthy tourists don't expect to be able to walk away with 'unicorns' when they are visiting. Those in the know would build up a relationship with in this case WOSG over time if the tax breaks are so favourable. Eventually they would pick up a model they wanted. WOSG sold a lot to pilots through their heathrow stores. That business has eroded thanks to The Treasury's short sightedness. If the Duty Free policy is reintroduced it will mean wealthy tourists will be able to choose the UK again. There are plenty that are happy to pick up a TAG, Omega, Longines, IWC, Hublot, Panerai etc. at 20% + discount to their domestic market market. This was a huge own goal by Rishi and his predecessor. All those tourist dollars are now going to Europe and after Covid we are only now realising the true cost to the economy..
Feared that. So loads of potential super wealthy punters but can only sell them the stuff no one else wants. I guess no different to elsewhere, but again shows how beholden this company is to its suppliers, and one in particular.
Short answer is no. Nobody can walk into any store and walk out with any in demand model.
I’m in central London for a few days this week and have been walking past a number of WOSG shops regularly whilst here. One thing that jumped to mind is, do they hold Rolex stock for tourists to walk out with? I appreciate most high net worth shopping tourists won’t shop in London anymore due to the tax position, but does anyone know whether they are just able to walk in and buy the stuff that wouldn’t be available to most folk without sitting on a waiting list for months?
Looks like i timed this one just right for a change. Bought at 364p last week.
lets hope the rerate continues
Almost £300k paid between the BoD guys.
Purchased:
9th February 2024
Chairman Ian R Carter
£188,430 55,000
If you put his previous 35,000 shares purchase, he's actually averaging to about £4.67 on a 85,000 total shares held by Mr Carter. The guy is worth over £100million.
9th Feb 2024
Chief Financial Officer
Anders Romberg
£103,998 26,666
Check his previous £600k purchase back in September 2023.
The guys above are loading it up and trying to average their investments after paying almost double for the same shares back in 2023.
A positive RNS yesterday followed by £188,000 worth of buys from the company chairman today. Shows massive confidence in the product.
Two things struck me from the RNS that I don't think were mentioned previously.
1. Web sales in UK were down a whopping 15%. Like many retailers, they pay Google millions to make sure their name comes at the top of web searches so this may be a reflection of them spending less on promoting on line.
2. Duty free trading is back on the horizon. It was abolished as part of Brexit and has really hurt WOSG. The company has not only many stores at the terminals in Hesthrow but also they have large flagship stores in London / Knightsbridge. They have been hit by the lack of foreign visitors caused by this senseless decision. Hopefully even a Labour government will see the benefits of attracting foriegn tiourists to the UK by reintroducing VAT free shopping.
Update confirms what we already know. The big plus is that nothing is deteriorating with a good growth in the larger US market and elsewhere except in the UK, stagnating for the time being. So overall this looks positive and is the base for restarting strong growth from now on, as economies start picking up again.
Why do BlackRock sell off more shares? Do they thing this will down more as holding RNSs down the line. As they have bigger positions and more risk so they run away first.
The next Trading Update (Q3) will be announced next Thursday the 8th of Feb.
IMO the sharp 50%+ drop from £8 to where we are now has probably assumed the worst case scenario.
Any decent update will kickstart a recovery in the share price which is at 5 year low.
I will have a punt if it's goes to bellow £3
Now support is broken, no reason this won't go under £3 soon.
Yep, I think this is the risk at least in the longer term for WOSG. Big brands get bigger and sell direct. Smaller brands need discounts to shift. Has even happened to Tudor recently. They can get squeezed.
Agree redwineday can't see interest from the big luxury houses. Richemont tried the third party retailer route with their stake in Farfetch and ended up having to write down that investment, that will be a cautionary tale to rest of industry. Most key is that they are all already strong on direct-to-consumer these days, both physical and online, no benefit to be had by absorbing a third party into the chain.
Could certainly see PE interest.The big luxe conglomerates I don't think so. The big egos at the big brands wouldn't want the big egos at the other big brands selling their toys. Anyway WOSG is starting to get me interested at this level. Maybe just need the fed to lower the rate.
At such distressed share price, I won't be surprised to see a bid approach materialises when one looks at its long term potential.
A few months have passed now since the takeover speculation died off and the share price was then at £8 level or 54% down ...
"Watches of Switzerland surges on Betaville takeover speculation
Watches of Switzerland surged on Tuesday after markets blog Betaville said in an "uncooked alert" that the company was at the centre of takeover speculation.
Betaville said that people following the situation have heard rumours Watches of Switzerland has attracted takeover interest.
The identity of the company circling Watches of Switzerland is unclear, Betaville said, although there was some suggestion it could be a luxury goods giant.
Other people following the situation suggested a private equity firm may be interested in the business, which prior to listing on the London market was owned by US firm Apollo."