Stock Movers Whitbread Drops, Hays Slumps, Richemont Down
Jun 19, 2025
Whitbread faces challenges with a 1% drop in comparable sales, despite some revenue gains in Germany. Hays experiences a staggering 20% slump, the worst in nearly a decade, prompted by a weak recruitment market. Meanwhile, luxury stocks like Richemont and Swatch take a hit as Swiss watch exports plummet, linked to a downturn in US demand. The podcast also discusses the impact of the Swiss National Bank's interest rate cut, which strengthens the Swiss franc and could further affect luxury exports.
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Whitbread's Mixed Regional Performance
- Whitbread shares fell 2.7% due to a 2% sales decline in the UK market.
- However, their German market showed strong growth with 13% sales increase, reflecting regional disparities.
Recruitment Market Faces Prolonged Weakness
- Hays revealed that tough recruitment conditions will persist into fiscal year 2026, especially for permanent roles.
- This caused Hays' shares to slump by as much as 20%, their lowest since 2008, and triggered drops for other recruitment firms like Page Group and Adecco.
Luxury Watches Suffer Export Headwinds
- Swiss watch exports fell nearly 10% in May, mainly due to a sharp drop in shipments to the US.
- Swiss Franc appreciation and interest rate cuts may have worsened the export pressure on luxury watchmakers like Richemont and Swatch.