Plunging Shares of Top Rolex Retailer May Be Warning to Red-Hot Watch Market

[WBaileyii]

Originally Posted by EEpro

This article has another take on the results. Luxury watch sales were up 22% to £340 million.

Obviously a decrease in jewelry sales scared the investors off.

"CEO Brian Duffy said recession fears and the rising cost of living have not stopped customers from buying luxury timepieces."

https://www.standard.co.uk/business/...-b1059024.html

Revenue was up, but what about volume? I wonder if they were just unloading all the high end stuff because they see a slow down coming and want to make sure they aren't stuck with really expensive watches they can't sell...it will be interesting to see what the next quarter results show.