Member Info for Watchman007

Fantastic timing!

I just received this response from HL

"Thank you for your recent contact.

Further to our conversation, I can confirm that your holding Solid Core Resources is currently held on Astana International Exchange(AIX) and not Euroclear. Also as this is held on the AIX, we're not participating in the buyback as that only applies to shareholders who hold this through Euroclear."

Thoughts?

Ash, How did you contact Hargreaves Lansdown? I can't find anywhere to contact them.

Https://www.watchpro.com/business-as-usual-for-watches-of-switzerland-and-swatch-group-despite-us-tariff-hike/

Yes, surprisingly good update. Reading between the lines it looks like the brands exported six months worth of production / demand pre May which is what WOSG and others are working through now in US. There have been no price increases anounced by the brands yet so unless a tariff deal is cut soon prices will rise globally and I suspect this is what is driving demand.

Wishful thinking I'm afraid. The tarrifs may come down at some point but not less than 10 - 15 percent. For now it means prices all over the world will go up as none of the brands want an area that is more expensive than the others. Thanks Donald.

WOSG anounced 11th April the closure of 16 UK stores. Support staff at their Leicester HQ hav been put on notice of redundancies. The company said it is looking to reduce headcount by 40 positions.

Store closures include WOS Heathrow Terminal 4, Mapin and Webb Southampton and a number of mono brand stores. Some of the stores closing include the 16 bought from The Signet Group eighteen months ago. None of the closures are Rolex dealerships.

Especially as any American coming to Europe to buy a Rolex won't be coming to UK as, unlike everywhere else we don't do duty free. Rachel needs to look at this urgently. Would stimulate a lot of money in the tourist trade.

IPOs website states it has a 1.8% stake in HNGE which would mean $10.8b if valued at $600b

Https://www.watchpro.com/rolexs-biggest-boutique-in-europe-set-to-open-on-londons-bond-street-on-march-13/

Any tariffs on Swiss watches will increase prices across all retailers, possibly making the used market more attractive. WOSG sell accredited preowned Rolex's and have multiple outlets for other premium preowned brands. Tariffs will likely have a nuetral impact on their watch business in US. Jewellery is imported mostly from SE Asia and Europe. This will be impacted more but forms are proportionally smaller part of the business. In both cases the US consumer will pay more. Yet another strong argument for the reintroduction of tax free shopping in UK stopped by Boris and continued by Rachel. It is costing WOSG £200m pa in lost sales compared to before it was stopped.

For me the Data Cetnres are going to be the revenue drivers whilst industrial and retal growth throughout UK and Europe flatlines.

That as well as Qube unwinding their short position last week gives me cause for optimism.

Usually when theres a trend up or down before a TU its a good indicator of what to expect. Fingers crossed this time.

People are buying Cartiers etc because they don't want to wait for years for a Rolex. Hopefully this trend has carried over to WOSG. Richemont make up about 6% of WOSG revenue.

Not sure whether they'll do a Christmas trading update this year. Last year they had to anounce a profit warning that was preceded by a sell off. Similar sell off going on at the moment.

After all the hoo ha about Rolex taking over Bucherer last year and the damage it did to WOSG's share price this article makes interesting reading.

https://www.watchpro.com/bucherer-sales-plateau-at-104-million-but-profit-holds-up-in-2023-financial-year/

20m unique email addresses and access to their exclusive Hodinkee watches to sell on line. Many of the 20m will already be WOS customers and some will be in countries WOS can't sell into. I'd say $25m would be the most this was worth but the markets appear to like it.

Worth a read. Puts some context on it.

https://www.watchpro.com/watches-of-switzerland-group-buys-hodinkee/

Valid points but share buy backs are an admision that you've run out of ideas. I dont think thats the case here. As far as shorters, they're there for a reason. The clue to hedge funds is in the name. Qube et al dont lose money overall so I guess until WOSG demonstrate they are winning, hedgers are a fact of life. No numbers isnt a good look and I'm a long term holder