Watches of Switzerland shares down 32% today

[77T]

Originally Posted by ColoradoTime

Wow. That is weird. I dont have a subscription, but I didnt have to pay to read it. When I clicked on the link that I posted - now, it wanted me to subscribe.

Just google "watches of Switzerland" and filter News. It will be second or third post and you can read for free without signing up. Interesting read.

Easier to click this link:

https://ftalphaville.ft.com/content/...hy%20wristwear.

There’s a crack in everything, that’s how the light gets in. That’s the raw content without all the adware.

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[gamingdoctor]

What does this mean for the average rolex buyer, if anything?

[Notepad12]

Originally Posted by gamingdoctor

What does this mean for the average rolex buyer, if anything?

Nothing in relation to the actual share price, but they did blame a higher proportion of SS models and less PM models.

Must mean more SS models are being shipped, and less PM models are being shipped

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[BraveBold]

Originally Posted by Notepad12

Nothing in relation to the actual share price, but they did blame a higher proportion of SS models and less PM models.

Must mean more SS models are being shipped, and less PM models are being shipped

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It is consistent with general slowdown in luxury spending. PM pieces are slowing because less demand for higher $ items…

[Chiboy]

Originally Posted by 77T

Easier to click this link:

https://ftalphaville.ft.com/content/...hy%20wristwear.

There’s a crack in everything, that’s how the light gets in. That’s the raw content without all the adware.

Thanks for the link. How does one access the raw data initially?

[77T]

The raw data for the article comes from the WOS financial report.

You find those on WOS shareholder page. https://www.thewosgroupplc.com/investors/

As for the claim made by WOS in re: Rolex shipments and SS v. TT mix, that raw data isn’t available outside Rolex.


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[Chiboy]

Originally Posted by 77T

The raw data for the article comes from the WOS financial report.

You find those on WOS shareholder page. https://www.thewosgroupplc.com/investors/

As for the claim made by WOS in re: Rolex shipments and SS v. TT mix, that raw data isn’t available outside Rolex.

Thanks. The article raw data is what I was curious about accessing.

[subtona]

So Rolex is sending too many steel watches…..

[enjoythemusic]

Originally Posted by 77T

The raw data for the article comes from the WOS financial report.

You find those on WOS shareholder page. https://www.thewosgroupplc.com/investors/

Great link, thanks Paul! The pdf is at
https://www.thewosgroupplc.com/media...port-final.pdf

There's A LOT to digest in the PDF too.

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[BraveBold]

Originally Posted by subtona

So Rolex is sending too many steel watches…..

And yet not enough.

I understand from my AD they are seeing more shipments so I expect an incoming for a BLNR soon ;-)

[Ceriano]

If the demand for PM pieces is so high and they're not getting enough of them why they are selling at or below MSRP on the secondary market? Rolex must know something to shift the production to stainless.

[BraveBold]

Originally Posted by Ceriano

If the demand for PM pieces is so high and they're not getting enough of them why they are selling at or below MSRP on the secondary market? Rolex must know something to shift the production to stainless.

It is the opposite - insufficient PM demand and excess SS demand. So they have shifted. Of course SS has lower margins / lower revenue for everyone so it is bad news…

[subtona]

Originally Posted by BraveBold

It is the opposite - insufficient PM demand and excess SS demand. So they have shifted. Of course SS has lower margins / lower revenue for everyone so it is bad news…

the demand for PM models has been driven by the bubble market of demand for watches as investments.
Historically PM were seldom the watches most customers had as a first choice.

Just because the business had a good year/s from an anomaly in the sales of PM pieces, it should not translate to the business depending on that into the future.

But I understand it is enticing to look ahead and start counting chickens…

[Fleetlord]

They carry too many brands that don't sell. They don't discount so they have no chance of selling all the dust bunnies they are stuck with. They are burdened with far, far too much toxic stock. Cases stuffed with Grand Seiko, Breitling, Panerai, Omega, IWC....that nobody wants..especially at full retail.

I can go to any Mayors and see the same watches from the aforementioned brands in the exact same place in the display for months and months. Some Panerai even had dust on them...in the case!

[BraveBold]

Originally Posted by subtona

the demand for PM models has been driven by the bubble market of demand for watches as investments.
Historically PM were seldom the watches most customers had as a first choice.

Just because the business had a good year/s from an anomaly in the sales of PM pieces, it should not translate to the business depending on that into the future.

But I understand it is enticing to look ahead and start counting chickens…

Agree but assume you meant market / WoS were counting chickens? Because I was just pointing out the cause of the decline - that SS supply has increased to meet the (continued) high demand while PM demand has dropped, translating to lower sales, margins and future expectations.