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Watches of Switzerland – “FY24 performance in line with guidance”. Er, what about the guidance from before the final third of the year?

By Steve Moore | Thursday 16 May 2024

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Previously writing on Watches of Switzerland Group (WOSG), in January with the shares falling towards 400p I wrote profit warning, hopefully Chris Bailey’s grumpiness on the shares was heeded – concluding that the valuation and trading trajectory suggested to keep avoiding. The shares are currently a bit below those levels at 373p, but what of that with a currently above 10% rise today on a “Q4 FY24 Trading Update” announcement?

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