Watches of Switzerland

Watches of Switzerland Group PLC (LSE:WOSG) confirmed that profit profits fell 40% last year but the UK market is stabilising and growth in the US means it will soon represent half of group sales. The luxury watch and jewellery retailer reiterated its “cautiously optimistic” guidance for the new year, saying the industry as a whole is on a more conservative footing, slowing production amid a slowdown in the wider luxury market, while prices rose sharply. » Mehr auf proactiveinvestors.co.uk

Watches of Switzerland Group PLC (LSE:WOSG) eased a lot of anxiety in May when it revealed full-year profits had slipped year-on-year as sales stagnated, but not by as much as feared. Last year, major supplier Rolex bought a rival retailer in what was seen as a threat to specialist luxury watch sellers such as WoS, but other than a poor performance in the UK the tone in the statement was reasonably sanguine. » Mehr auf proactiveinvestors.co.uk

RBC has tipped ‘hard luxury' stocks Watches of Switzerland Group PLC (LSE:WOSG), Richemont and Kering as preferred plays in the luxury sector over ‘soft luxury' stocks, although analysts also gave LVMH an outperform rating. Hard luxury items refer to watches, jewellery, and other durable luxury goods, while soft luxury items typically include fashion, leather goods, accessories, and high-end apparel. » Mehr auf proactiveinvestors.co.uk