Member Info for Watchman007

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

My reservation with that is that Jeffries are their house broker and I am not comfortable with them running a buy back schedule. That and the fact that the share price has been manipulated for over a year since the shorters gained a foothold makes me think that this is one for the sock draw. I would never have said this a year ago but they are even ripe for being bought out, but not at a price that would realise their potential. Most of the board are sitting on fat profits even at this level and CEO Brian Duffy is well past retirement age.

Not up to their usual high standard of openness. Like I say, hopefully they'll reveal numbers at AGM, the'll certainly know what they are.

No numbers included today which is a worry. I'm guessing revenue is on track but margins are squeezed. US second half weighted could read 'we hope to recover in second half' and 'increased certainty on new stores coming online' could read we're relying on them to bolster revenue. Maybe they're be more detail at the AGM.

Not looking good on todays activity. Hope I’m wrong.

3rd september

Probably more to do with whats going on the markets in general than anything WOS has or hasn't done.

Q1 update will be next month. I wouldn't hold your breath, I think the best we can hope for is 'as expected'.

Swatch and Burberry are both impacted by lack of sales in the Chinese market. This doesn't effect WOSG directly.

That is the last quarter's trading update. The year end results will be next month.

Here here to all you said Sheltie.

I'll be able to get these out of my sock drawer and just about break even there or there abouts and will avoid going anywhere near where you know who goes next.

Sheltie,

Congrats on RR and I share your opinions on the increasingly frantic posts from some PIs. Like you I lost a similar amount but went back in and will recoup nearly all with this TO. I said I'd leave in the sock draw and shut up which is exactly what I have done, unlike some who have said 'thats all from me for a while' and then cascaded nonsense at an ever increasing rate.

Good luck to you in the future, though as we say in golf, 'the more I practice, the luckier I get'.

Qube are doubling down on their position.

*Birks. Not borja

They have no interest anywhere else. They got a foothold in USA ten years when they bought Mayors from Borja, a Canadian jewellery supplier who were keen to offload the stores as non core to their business. WOSG attempt to get into Europe has been an expensive failure and I doubt they want to repeat that further afield.

Looking at the Long Range Plan it appears they have acknowledged that the European Expansion through opening mono brand boutiques, mainly in Scandinavia so far hasn't worked. I know sales were struggling even before the profit warnings over the recent months but at the time they were relaxed about this because they were using them as a stepping stone to getting a mainland European Rolex AD set up. Rolex's Bucherer hook up and the economic outlook has made that a longer term plan. "We are in negotiations with our brand partners for the transfer of our existing European mono-brand boutiques." to me reads they have given up on Europe for now.

It is encouraging to see them opening a couple of Rolex stores in the US this year and the following link is one for 2026.

https://www.watchpro.com/watches-of-switzerland-opens-in-midtown-manhattan-without-rolex-or-patek-philippe/

I am unconvinced by the Roberto Coin aquisition despite the favourable numbers it seems to generate as I doubt many of their competitors will be overjoyed at giving their money and sales figures to WOSG in exchange for continuing to sell RC.

The management have consistently demonstrated their ability to adapt to trends and admit when things hsven't worked out. Overall I think they may just hit their long term goals.