Watches of Switzerland Group PLC (LSE:WOSG) updates tomorrow amid suggestions that some of the lustre is going out of the market for really high-end timepieces, think £20,000 plus.
These are classed as investment-grade objects as they are expected to hold their value in a similar way to gold, for example.
That value longevity has proved a bonus with uncertainty over inflation and fiat currencies as stores of wealth, but whether that appeal is being maintained will be something to look for tomorrow.
In March, Jefferies said it expects WoS to meet guidance for the fiscal year 2023 while waiting lists for luxury watches give it “confidence in the resilience of sales.”
Company forecasts are for revenues of £1.5- £1.55bn and underlying profit {adjusted EBITDA] of £163-175mln,
Shares have dropped 28% over the past six months.