Watches of Switzerland Surges 14%; Richemont Named Top Pick at Four Banks

June 2, 2026: Watches of Switzerland Surges 14%; Richemont Named Top Pick at Four Banks
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Tickers covered: WOSG.L | CFR.SW | MC.PA | KER.PA | UHR.SW

In this episode:

Watches of Switzerland (WOSG.L — LSE)
- Stock surged 14% on FY2026 earnings
- Group sales: GBP 1.83B, up 13% at constant currency
- US sales: +24% YoY, now more than half of group revenue
- FY2027 guidance: 5-10% growth at constant currency

Analyst Ratings
- Deutsche Bank adds Richemont to "Most Preferred" alongside LVMH and Burberry
- Richemont now consensus top pick across Deutsche Bank, UBS, JPMorgan, and HSBC
- Kering and Moncler designated "Least Preferred" by Deutsche Bank
- Kering (KER.PA) ex-dividend today at EUR 2.75 per share

China Outlook
- Bain & Co projects Chinese luxury spending +6% in 2026, reversing -5% in 2025
- Chinese shoppers account for more than 25% of annual global luxury sales
- Structural shift toward luxury experiences (hospitality, cruises, dining) and away from traditional goods

Sector Snapshot at Close
- LVMH (MC.PA): ~EUR 473, down 26% YTD
- Richemont (CFR.SW): near record high CHF 161.80
- Swatch (UHR.SW): CHF 215
- Watches of Switzerland (WOSG.L): up 14% today
- Kering (KER.PA): ex-dividend EUR 2.75

Links:
- ALT/FNDATA: https://www.altfndata.com
- Watches of Switzerland Q4 2026 earnings: https://www.investing.com/news/transcripts/earnings-call-transcript-watches-of-switzerland-q4-2026-sees-stock-surge-93CH-4687393
- Deutsche Bank luxury ratings: https://www.cityam.com/city-broker-downgrades-outlook-for-luxury-stocks-lvmh-burberry-and-richemont/
- Richemont FY2026 results: https://www.richemont.com/news-media/press-releases-news/richemont-delivers-strong-sales-growth-and-solid-results-for-the-year-ended-31-march-2026/

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What is Closing Price — Daily Evening Equity Analysis on Luxury Market?

Closing Price is your end-of-day briefing connecting public equity markets to the global auction and luxury alternative asset markets. Three times a week, host Sharon Obuobi tracks the publicly traded companies behind the world's leading auction houses, luxury brands, and collector markets — with proprietary data from ALT/FNDATA.

Learn more about us at www.altfndata.com

CLOSING PRICE — Tuesday, June 2, 2026
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[INTRO]

Good evening. It's Tuesday, June the second. I'm Sharon, and this is Closing Price from Altfndata.

[WATCHES OF SWITZERLAND — WOSG.L]

Watches of Switzerland, ticker WOSG on the London Stock Exchange, surged 14% following its FY2026 earnings release. Group sales were 1.83 billion GBP, up 13% at constant currency.

US sales grew 24% year over year and now account for more than half of the group's total revenue. For FY2027, the company is guiding 5 - 10% growth at constant currency.

This is significant for the broader watch market.

Richemont's watchmakers were down 4% in their latest report. Watches of Switzerland, as the largest authorized retailer, is seeing the opposite — particularly in the US. The divergence suggests demand is shifting toward specific retail channels rather than weakening across the board.

[ANALYST RATINGS — RICHEMONT, LVMH, KERING]

Deutsche Bank has added Richemont to its "Most Preferred" list alongside LVMH and Burberry. This follows upgrades from UBS, JPMorgan, and HSBC — making Richemont the consensus top pick
across four major banks.

The bank has designated Kering and Moncler as "Least Preferred," citing high expectations and risks to earnings.

Separately, Kering went ex-dividend today at 2.75 EUR per share.

[CHINA OUTLOOK]

Bain and Company's latest luxury report projects Chinese luxury spending will grow 6% in 2026 — a sharp reversal from the 5% decline recorded in 2025. Chinese shoppers account for more than
a quarter of annual global luxury sales.

The report also identifies a structural shift: spending is moving away from traditional luxury goods toward luxury experiences such as hospitality, cruises and fine dining.

For publicly traded luxury houses, that means revenue mix is changing even if top-line growth returns.

[SECTOR SNAPSHOT]

Here are the stock prices at today's close:
- LVMH (MC.PA): ~EUR 473, down 26% YTD
- Richemont (CFR.SW): near record high CHF 161.80
- Swatch (UHR.SW): CHF 215
- Watches of Switzerland (WOSG.L): up 14% today
- Kering (KER.PA): ex-dividend EUR 2.75

[OUTRO]

That is on Closing Price for Tuesday, June the second.

I'm Sharon Obuobi, from Altfndata. Subscribe to get notifications on new episodes and tune again tomorrow morning for Open Bid and in the evening for another edition of Closing Price.