{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Closing Price — Luxury Equities & Alternative Asset Signals","title":"Same Split, New Quarter: the Luxury Equities Stay Soft, Watches of Switzerland Drops Its £3B Goal, and the Saleroom Keeps Setting Records","html":"","width":"100%","height":180,"duration":297,"description":"July 1: Same Split, New Quarter: the Luxury Equities Stay Soft, Watches of Switzerland Drops Its £3B Goal, and the Saleroom Keeps Setting Records\nToday's signal: continuity. The second half opened where the first closed, the listed luxury names under pressure while the demand data pointed the other way. This week the divergence got a corporate stamp: Watches of Switzerland is abandoning its goal to more than double sales by 2028 because the market has deteriorated, even as Christie's set seven world records in London and doubled a jewelry estimate in Paris. The stores are trimming forecasts; the auction rooms are breaking records.\nALT/FNDATA\n- Book a Data Sandbox demo: https://altfndata.com/book\n- Market reports: https://altfndata.com/go/cp-260701-r\n- Podcast episodes: https://altfndata.com/go/cp-260701-p\nA Corporate Stamp on the Divergence\n- Watches of Switzerland, one of the world's biggest Rolex sellers, is stepping back from its 2028 target to more than double sales past 3 billion pounds, citing a deteriorated market. The listed side of luxury conceding the retail slowdown in its own words.\n- Meanwhile the saleroom set records: Christie's Classic Week evening sales ~64 million dollars and 7 world auction records (a ~22 million dollar Titian, an artist record), after last week's Paris jewels doubled their estimate.\n- The twist: WoS shares actually rose almost 4 percent on the reset, investors seemingly preferring an honest plan to an impossible one.\nThe Tape (Wednesday close)\n- Macro (broad market gave back a little): Nasdaq 26,040 (-0.66%), S&P 500 7,483 (-0.22%), Dow 52,305 (flat), gold 4,045 (+0.57%), WTI oil 68.09 (-2.77%), US 10-year 4.48%, dollar index 101.4.\n- European luxury (mixed to soft): Watches of Switzerland 729.5p (+3.77%), Brunello Cucinelli 83.36 EUR (+0.94%), Swatch 198.35 CHF (+0.38%), Hermès 1,595.0 EUR (-0.19%), Kering 245.75 EUR (-0.63%), LVMH 481.00 EUR (-0.64%), Richemont 182.70 CHF (-2.06%), Burberry 1,057.0p (-3.47%).\n- US-listed:...","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}