The latest update is out from Watches of Switzerland Group PLC ( (GB:WOSG) ).
Watches of Switzerland Group PLC announced the launch of a £25 million share buyback program, reflecting its strong balance sheet and strategic capital allocation approach. This initiative follows a successful refinancing in December 2024, which increased liquidity by £50 million, allowing the company to return surplus capital to shareholders while maintaining its investment strategy for growth and development. The buyback will be managed by Barclays Bank PLC and aims to reduce the company’s share capital, with purchases to be completed by December 2025.
More about Watches of Switzerland Group PLC
The Watches of Switzerland Group is the UK’s largest luxury watch retailer, operating in the UK, US, and Europe with seven prestigious brands, including Watches of Switzerland, Mappin & Webb, Goldsmiths, Mayors, Betteridge, Analog:Shift, and Hodinkee. The company also offers a complementary jewelry range and holds exclusive distribution rights for Roberto Coin in the USA, Canada, Central America, and the Caribbean. As of January 2025, it operates 217 showrooms across these regions, including dedicated mono-brand boutiques in partnership with renowned brands like Rolex, OMEGA, and TAG Heuer.
YTD Price Performance: -19.39%
Average Trading Volume: 642,778
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £1.08B
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