{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Closing Price — Luxury Equities & Alternative Asset Signals","title":"The Week the Retailer Told the Truth: Watches of Switzerland Rose by Admitting the Slowdown, While the Divergence Held","html":"","width":"100%","height":180,"duration":445,"description":"July 3: The Week the Retailer Told the Truth: Watches of Switzerland Rose by Admitting the Slowdown, While the Divergence Held\nThis week, the split we have tracked all quarter held wide open: the listed luxury names lagged even as the broad market climbed to new highs and the auction rooms set record after record. Kering, the group behind Gucci, had the worst of it, down about 7 percent. The one meaningful gainer was Watches of Switzerland, one of the world's largest sellers of Rolex, and the reason it rose is the story of the week.\nALT/FNDATA\n- Book a Data Sandbox demo: https://altfndata.com/book\n- Market reports: https://altfndata.com/go/cp-260703-r\n- Podcast episodes: https://altfndata.com/go/cp-260703-p\nThe Only Luxury Stock That Rose Did So by Admitting the Slowdown\n- Watches of Switzerland climbed more than 6 percent on the week after abandoning its target to more than double sales by 2028, telling the market plainly that demand had cooled. The rest of the sector, still promising growth, kept falling.\n- The lesson: this market is rewarding honesty about the slowdown over ambitious targets it no longer believes.\n- The divergence held again: the equities lagged a rising market while the goods themselves set records. Thursday's one-day rally narrowed the gap, but only for a day.\nThe Tape (week over week, Friday July 3 close)\n- Europe: Kering -6.96% (248.45 EUR, the laggard, still fighting to turn Gucci around); Swatch -2.76% (197.0 CHF); Burberry -2.62% (1,079.5p); Richemont -1.39% (184.2 CHF); LVMH -0.01% (495.7 EUR, flat); Hermès +0.92% (1,641.0 EUR); Watches of Switzerland +6.29% (752.0p, the week's leader).\n- US (market closed Friday for Independence Day, so the week ran Mon-Thu): Movado -4.98%; Ralph Lauren -3.15%; Capri -2.17%; Tapestry -1.23%; Estée Lauder +3.94% (the lone gainer).\n- Macro: Nasdaq +2.12% (25,833); S&P 500 +1.76% (7,483); gold +2.66% to a fresh record near 4,187 dollars an ounce; WTI oil -0.65%; the dollar index -0.50%. A soft Thursday...","thumbnail_url":"https://img.transistorcdn.com/-hOE2p7i6o042-uL_U7DDqKjx_Az8ErebwSEdvS9Gfo/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9jMTc5/NmRjNzQ2MTE0NmFl/YWY4OTQyODMxMTlh/ZGNiYy5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}