Watches of Switzerland says strong November sales bode well for Christmas

[BNA/LION]

ZURICH (Reuters) - Luxury watch retailer Watches of Switzerland Group (WoS) said on Thursday trading in November supported its recently upgraded full-year guidance, after strong revenue growth boosted earnings in the 26 weeks to Oct. 31.

"We upgraded our guidance about a month ago, we're confirming that guidance after a good start to our third quarter," Chief Executive Brian Duffy told Reuters in an interview. "November has been strong."

He said the group had sold a lot of Rolex watches in May, June and July and then had to rebuild stock until the end of October. WoS is the biggest Rolex retailer in Britain and the brand accounts for about half of the group's business.

He said a scarcity of Rolexes had benefited other brands. "Cartier, Omega, Breitling, TAG Heuer, Tudor are all doing well."

Duffy said the group, which has 163 stores across Britain and the United States, was now well stocked for the holiday trading period.

In the 26 weeks to Oct. 31, adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose almost 60% to 82.8 million pounds ($109.4 million).

Last month, WoS upgraded its full-year revenue outlook to 1.15-1.20 billion pounds, also thanks to the acquisition of five U.S. stores with a combined annual revenue of about $100 million.

The group's five-year strategy to 2026 envisions becoming the leader in the United States, a market it entered in 2017, and entering the EU market. It said it could spend 150-200 million pounds on acquisitions in the United States and the EU over the next five years.

($1 = 0.7572 pounds)

[vh2k]

Rising tide has lifted all boats... and Breitling, Cartier, and Omega have released excellent products which are selling with much smaller discounts than previous years. Tudor is also benefitting with decent releases and "fair" perceived value.

[enjoythemusic]

Sorry guys, it was me. I've been the one buying up all the stock. ;-)

Congrats to WoS / Mayors!

ahci_7082921.jpg

[P1nky_Up]

Originally Posted by enjoythemusic

Sorry guys, it was me. I've been the one buying up all the stock. ;-)

Congrats to WoS / Mayors!

Attachment 1259782

That thing is awesome!

[enjoythemusic]

Originally Posted by P1nky_Up

That thing is awesome!

MB says it best, Sherman makes you smile.

He also tells the time.

Problem is, I think late at night Sherman and Elf are drinking my Macallan 21 year triple casket(!).

[gerry100]

Originally Posted by BNA/LION

ZURICH (Reuters) - Luxury watch retailer Watches of Switzerland Group (WoS) said on Thursday trading in November supported its recently upgraded full-year guidance, after strong revenue growth boosted earnings in the 26 weeks to Oct. 31.

"We upgraded our guidance about a month ago, we're confirming that guidance after a good start to our third quarter," Chief Executive Brian Duffy told Reuters in an interview. "November has been strong."

He said the group had sold a lot of Rolex watches in May, June and July and then had to rebuild stock until the end of October. WoS is the biggest Rolex retailer in Britain and the brand accounts for about half of the group's business.

He said a scarcity of Rolexes had benefited other brands. "Cartier, Omega, Breitling, TAG Heuer, Tudor are all doing well."

Duffy said the group, which has 163 stores across Britain and the United States, was now well stocked for the holiday trading period.

In the 26 weeks to Oct. 31, adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose almost 60% to 82.8 million pounds ($109.4 million).

Last month, WoS upgraded its full-year revenue outlook to 1.15-1.20 billion pounds, also thanks to the acquisition of five U.S. stores with a combined annual revenue of about $100 million.

The group's five-year strategy to 2026 envisions becoming the leader in the United States, a market it entered in 2017, and entering the EU market. It said it could spend 150-200 million pounds on acquisitions in the United States and the EU over the next five years.

($1 = 0.7572 pounds)

That is the most hideous Rolex I have ever seen.

But that;s just me

[garyk]

Originally Posted by enjoythemusic

Sorry guys, it was me. I've been the one buying up all the stock. ;-)

Congrats to WoS / Mayors!

Attachment 1259782

Elf on a lap?

[zzenrocker]

Originally Posted by gerry100

That is the most hideous Rolex I have ever seen.

But that;s just me

You have to embrace your inner gangsta...

[Mendota]

Originally Posted by enjoythemusic

Sorry guys, it was me. I've been the one buying up all the stock. ;-)

Congrats to WoS / Mayors!

Attachment 1259782

Where did you get that awesome clock? Is it custom or did you purchase it somewhere? I would LOVE one!

[enjoythemusic]

You might be able to get Sherman by MB&F / L'Epee 1839 at Mayors / Watches of Switzerland. If not, I heard the MB&F boutique in Southern California might have one in stock. Hope this helps.

wristscan_7089691.jpg