Latest news with #RobertoCoin
Yahoo
04-07-2025
- Business
- Yahoo
Watches of Switzerland Group PLC (WOSGF) (FY 2025) Earnings Call Highlights: Record Sales and ...
Revenue: EUR1.652 billion, up 8% in constant currency. US Sales: Over $1 billion, representing 48% of the group. Adjusted EBIT: EUR150 million, up 12% in constant currency. Adjusted EBIT Margin: 9.1%, up 30 basis points. Free Cash Flow: EUR98 million. Return on Capital Employed: 19%. Net Debt: GBP96 million, with a net debt to EBITDA leverage of 0.6 times. Inventory Levels: Up 14%, reflecting acquisitions. Showroom Projects: 15 projects completed, including new Rolex boutiques. US Market Growth: 16% in constant currency. UK Market Growth: 20% increase since 2022. Adjusted EPS: 41.6p, up 9% on the prior year. Share Buyback Program: GBP25 million announced, GBP11 million spent in FY '25. Warning! GuruFocus has detected 3 Warning Signs with LVO. Release Date: July 03, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Watches of Switzerland Group PLC (WOSGF) achieved record sales of EUR1.652 billion in fiscal year '25, marking an 8% increase in constant currency compared to the previous year. The US division surpassed a significant milestone with sales exceeding $1 billion, contributing to 48% of the group's total revenue. The company has successfully expanded its showroom portfolio, including new Rolex boutiques in key locations such as London and the US, and plans further investments in FY '26 and '27. The acquisitions of Roberto Coin Inc and Hediki are progressing well, with promising growth prospects in the luxury branded jewelry sector. The certified pre-owned (CPO) program for Rolex and other brands has exceeded expectations, indicating strong demand in the pre-owned luxury watch market. The luxury watch market faces challenges with demand exceeding supply, leading to long-term price inflation and potential volatility. The UK market experienced significant volatility post-COVID, with high inflationary prices impacting consumer sentiment. The impact of US tariffs on imported goods from Switzerland has led to mid-single-digit price increases by some brand partners, affecting margins. There is uncertainty regarding the future of US tariffs, which could impact the company's financial performance and guidance for FY '26. The company faces challenges in managing inventory levels, particularly in the context of accelerated intake by brands in anticipation of tariffs. Q: Could you comment on what surprised you the most regarding the performance in the US over the last 6 months? Also, what is your outlook for inventory allocation across the brands for FY '26? A: Brian Duffy, CEO: There were no major surprises in the US market; the demand for Swiss watches and luxury branded jewelry remains strong. We achieved a significant milestone by surpassing $1 billion in sales. The US market is healthy, with a 15.5% growth over the last 12 months. Inventory levels are in line with expectations, and there is no excess inventory in the market. Q: How is the trading environment in the UK compared to the US, and what impact do shop closures have on revenue? A: Brian Duffy, CEO: The UK market has stabilized after a period of volatility, and current trading is in line with expectations. Shop closures have minimal impact on revenue as key agencies are maintained and moved to other stores in the local area, resulting in cost savings without significant sales loss. Q: How are non-supply constrained brands performing, and what is your guidance for these brands? A: Brian Duffy, CEO: The non-supply constrained brands, particularly in the price segment of 3,000 to 7,000, have responded well with new product development and marketing. The market is more recognizable now, and we are not calling out any specific concerns for these brands. Q: How are the import tariffs affecting your brand partnerships and supplier payment terms? A: Brian Duffy, CEO: The tariffs have not impacted our brand partnerships or product ranging. Supplier payment terms were adjusted as a one-off correction due to working capital needs from suppliers, unrelated to tariffs. We expect cash conversion to normalize in the coming year. Q: What are your growth expectations for Roberto Coin, and how will mono-brand stores impact revenue and margins? A: Brian Duffy, CEO: Roberto Coin is poised for significant growth with investments in marketing and mono-brand boutiques. The financials are attractive, combining wholesale and retail margins. We are confident in the brand's potential, especially in the US market. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Mail
03-07-2025
- Business
- Daily Mail
Watches of Switzerland sales jump but shares slump amid margin pressure
Watches of Switzerland Group's annual revenues recovered to a record high, after strong trading over the second half of the year. But shares fell sharply on Thursday as Watches of Switzerland warned the imposition of US trade tariffs would put further pressure on margins in the year ahead. The luxury retailer said sales increased by 8 per cent at constant currency rates to £1.65billion in the year ending 27 April. Revenue only expanded by 4 per cent in the first half, due to its US business bumping up showroom stock levels of prominent brands before climbing by 12 per cent over the following six months. Luxury jewellery purchases more than doubled from £102million to £211million thanks to the takeover of Italian firm Roberto Coin's US associate company. By comparison, the group's luxury watch sales and combined revenues across the UK and Europe rose by only 2 per cent to £1.35billion and £866million, respectively. Watches of Switzerland's trade in Britain continued to be affected by subdued tourist demand stemming from the removal of VAT-free shopping four years ago, which contributed to its online turnover falling by 5 per cent. Yet the retailer's UK sales still returned to growth as the luxury watch and jewellery market stabilised following considerable pandemic-induced volatility. Its adjusted earnings before interest and tax also grew by 12 per cent to £150million, surpassing analyst expectations of £148.8million. However, pre-tax profits slumped by 18 per cent to £76million owing to product mix and greater promotional activity. Watches of Switzerland's overhead costs also jumped by a quarter, largely due to the Roberto Coin takeover, as well as IT investment, salary hikes, and the opening of a new support centre in Florida. The London-based company expects its profit margins to decline this year in the wake of US President Donald Trump's 10 per cent baseline tariff on imported goods. Trump briefly slapped a 31 per cent 'reciprocal' levy on Swiss-made products in April before suspending the tax for 90 days. Some of Watches of Switzerland's brand partners have responded to the tariffs by hiking prices in the US by a mid-single-digit percentage, thereby eroding margins. It told investors: 'The outcome of US tariff developments remains uncertain. We are in regular dialogue with our brand partners, but it is too early to comment on the potential sector impact of further changes. 'We will provide a further update as to the potential impact on FY26 guidance once the situation becomes clearer.' The Swiss Government has until 9 July to agree a trade deal with the US before the higher tariffs come back. Watches of Switzerland Group shares were 7.1 per cent down at 391.6p on Thursday morning, taking their losses to around 28 per cent since the year started. Equity research analyst at Shore Capital David Hughes said: 'The business has done an admirable job in driving margin recovery alongside revenue growth in FY25A. 'But in our view further margin recovery is needed before the market offers a more generous rating on the stock.'
Reuters
03-07-2025
- Business
- Reuters
Watches of Switzerland warns of margin hit as tariffs pressure Swiss watchmakers
July 3 (Reuters) - British luxury retailer Watches of Switzerland (WOSG.L), opens new tab said on Thursday that its profit margins would be pressured this fiscal as Swiss watchmakers hike U.S. prices due to tariffs, sending its shares as much as 6% lower. The forecast comes after the company reported a slightly better-than-expected profit for the year ended April, boosted by a pickup in demand in the U.S. and Britain and its acquisition of jewellery maker Roberto Coin's North America business. That helped lift its revenue to a record high of 1.65 billion pounds ($2.26 billion). Watches of Switzerland said it was too early to comment on the potential sector impact from U.S. tariffs and that it was in regular talks with brand partners, which include Rolex, Cartier, and Patek Philippe. "We presume the major swing behind the margin delta will be the extent to which major brands will continue to require wholesale clients in the U.S. to partly shoulder the impact of the current 10% tariffs on Swiss imports," analysts at Jefferies said. The London-listed firm expects adjusted operating profit margin to be flat or decline by up to 100 basis points compared with the 9.1% it reported in the previous fiscal year. It forecast 6%-10% revenue growth in constant currency for the current fiscal year to April 2026, assuming a 10% U.S. tariff rate on Switzerland beyond the 90-day pause. Analysts had flagged that the most pressure from tariffs would fall on Swiss watchmakers due to high import duties, with luxury watchmakers such as Swatch Group (UHR.S), opens new tab and Cartier-owner Richemont (CFR.S), opens new tab already operating on thin margins. Watches of Switzerland posted an adjusted operating profit of 150 million pounds for the year ended April 27, above analyst estimates of 148.8 million pounds, according to a company-compiled consensus. ($1 = 0.7331 pounds) ($1 = 0.7316 pounds)
Yahoo
09-06-2025
- Entertainment
- Yahoo
Dakota Johnson Frosts Her Ferragamo LBD With Diamonds Galore
When you buy through links on our articles, Future and its syndication partners may earn a commission. The little black dress is working overtime this week. On May 28, Hailey Bieber celebrated Rhode Skin's billion-dollar deal in a strapless mini custom-made by Saint Laurent. Just 24 hours later, Taylor Swift made her grand return to New York City in an on-brand Dôen dress—her favorite label for enviable evenings out. And now, Dakota Johnson is following their lead. Marking her first A-list affair since the 2025 Cannes Film Festival, the Materialists actor jumped on the LBD bandwagon in New York City. To celebrate her new global brand ambassadorship at Roberto Coin, the Italian jeweler hosted an invite-only soirée in her honor. While en route to Manhattan's Cipriani 25 Broadway, Johnson was all smiles in her latest LBD, courtesy of Ferragamo. With help from her longtime stylist, Kate Young, the fashion muse got her hands on the Italian label's floor-length noir number. If you look closely enough, you'll see the stretched viscose is draped delicately at the bust. This subtle gathering added some variation to the otherwise sleek, column silhouette. View Deal For her footwear, Johnson sourced Ferragamo once more. She chose the eccentric Eva Pump, beloved by Jennifer Lawrence, Zoë Saldana, Hailey Bieber, Keke Palmer, and Tracee Ellis Ross. While it's available in red, green, pale pink, ivory, and burgundy (to name a few color-ways), the Fifty Shades of Grey actor went with the classic black pair. View Deal Thanks to her new partnership with Roberto Coin, Johnson frosted herself in diamonds galore, most notably an intricate choker necklace. All eyes went to the brilliant-cut diamonds, which were accented by striking pear-shaped sapphires toward the chain. But wait—the sparkles didn't stop there. An oversized cocktail ring, also from Roberto Coin, complemented her necklace. Available for $25,500, it featured a timeless combination of blue sapphire, iolite, and diamonds. The statement piece has made its rounds among the Hollywood set. Leslie Mann wore the same ring at the 2018 Academy Awards alongside a red ballgown from Zac Posen. Just a few hours after Johnson was spotted in NYC, her first campaign for Roberto Coin, captured by Craig McDean, dropped online. In it, the actor frolicks around Venice in the LBD's whimsical younger sister: a flowy, little white dress. She showcased the jeweler's Venetian Princess - Pirouette collection, most notably an 18k gold, mother-of-pearl flower necklace, which rings in at $20,600. Now that Johnson's ambassadorship with Roberto Coin is public knowledge, it's only a matter of time before she sports the brand again. The release date of her upcoming romantic drama, Materialists is coming up on June 13. Keep an eye out for Roberto Coin's glittering offerings alongside her next promo 'fits.
Yahoo
07-06-2025
- Entertainment
- Yahoo
Dakota Johnson Goes Sheer in Long-sleeve Nensi Dojaka Midi Dress and Bodysuit While Promoting ‘Materialists' on ‘Seth Meyers'
Dakota Johnson made her latest stop on her 'Materialists' promotional tour on Thursday in New York City with an appearance on 'The Late Show With Seth Meyers.' The actress costars in the film alongside Chris Evan and Pedro Pascal. For her late-night talk show appearance, Johnson opted for the sheer trend, styling a long-sleeve midi dress courtesy of Nensi Dojaka. The actress wore the sheer piece with a fitted silhouette and exposed seams throughout. Beneath her sheer dress, Johnson added a brown, strapless bodysuit with a formfitting design. More from WWD Kate Hudson Puts a Velvety Spin on the Little Black Dress for the Newport Beach TV Fest EXCLUSIVE: Charlotte Tilbury Launches First Sports Partnership With the Dallas Cowboys Cheerleaders Queen Letizia of Spain Plays With Proportions in Gray Mango Suit for Royal Engagement in Madrid As for her accessories, the recently announced global brand ambassador for Roberto Coin kept those elements relatively minimal, favoring simple earrings. She completed the ensemble with a pair of black Saint Laurent Raven slingback pointed-toe pumps. When it came to her glam, Johnson's hair was styled straight and worn down, cascading past her shoulders, with fringe to frame her face by stylist Mark Townsend. Her makeup included such elements as bold brows, lined eyes and a glossy lip courtesy of artist Georgie Eisdell. Johnson's look was curated by Kate Young, who WWD named Best Stylist at the 2025 WWD Style Awards. Young recently styled Johnson in another sheer look for the 2025 Cannes Film Festival. While attending the Kering and Cannes Film Festival Official Dinner on May 18, Johnson wore an allover shimmering sleeveless dress by Gucci, with jewelry courtesy of Boucheron. Johnson is just one of Young's high-profile clients. The stylist also collaborates with Michelle Williams and Julianne Moore. In an interview with Young from January, the stylist explained the rapid change she's seen in the fashion and entertainment industries and how the two have become inextricably linked. 'People didn't even have a stylist. I think a lot of people bought a dress to go to the Globes, or maybe their costume designer did it,' she said. 'Celebrities and designers form alliances in a way they didn't used to. They might have met and become friends in the past, but now people align themselves with brands and then also become brand ambassadors or faces of campaigns,' Young said. 'Now, brands are so good at identifying talent they're interested in very early.' Written and directed by Oscar nominee Celine Song, 'Materialists' follows Johnson's character Lucy, a New York City matchmaker who finds herself at the center of a love triangle between her former flame, played by Evans, and a new love interest, played by Pascal. The film hits theaters June 13. View Gallery Launch Gallery: Sheer Looks at Cannes Film Festival 2025: Dakota Johnson, Imogen Poots and More Celebrity Style, Photos Best of WWD Mia Threapleton's Red Carpet Style Through the Years [PHOTOS] Princess Charlene of Monaco's Grand Prix Style Through the Years: Louis Vuitton, Akris and More, Photos Princess Charlene's Monaco Grand Prix Style Evolution at Full Speed: Shades of Blue in Louis Vuitton, Playful Patterning in Akris and More
