Movado Group Stock Price, News & Analysis

Movado Group, Inc. announced the appointment of Stéphane Gerschel as the new Chief Marketing Officer, effective April 18, 2022. Gerschel brings extensive experience from luxury brands, aiming to enhance brand awareness and strengthen the Movado brand globally. His previous roles include leadership at Pomellato and LVMH. This position became vacant after the passing of long-time executive Mary Leach in February 2021. The leadership change is expected to drive the company’s digital advancement and expansion in the watch and jewelry sectors.

Movado Group, Inc. (NYSE: MOV) reported a 44.6% increase in fiscal 2022 net sales, reaching $732.4 million. The company achieved Fiscal 2022 EPS of $3.87 and adjusted EPS of $3.94. In the fourth quarter, net sales rose 15.5% to $206.0 million with EPS of $1.33. The board approved a 40% increase in the quarterly dividend to $0.35 per share. Despite challenges like inflation and geopolitical tensions, Movado is optimistic about future growth and plans to accelerate its share repurchase program, supported by a solid cash position of $277.1 million.

Movado Group announced the appointment of Eran Cohen as the new CEO of its MVMT brand, effective March 16th. Mr. Cohen, previously CEO at St. John Knits, brings extensive experience in brand building and customer experience. He will operate from MVMT’s headquarters in Los Angeles, CA, reporting to Behzad Soltani, EVP Commercial President and CTO of Movado Group. Chairman Efraim Grinberg expressed optimism about Cohen's role in executing strategic priorities for MVMT, aiming for sustainable and profitable growth.

Movado Group, Inc. (NYSE: MOV) will hold a conference call on March 24, 2022, at 9:00 a.m. ET to discuss its fourth quarter and fiscal 2022 earnings results. The earnings press release will be available before the market opens on the same day. Efraim Grinberg, Chairman and CEO, and Sallie DeMarsilis, COO and CFO, will host the call. Investors can join the call by dialing (877) 407-0784 and using conference ID 13727469. The call will also be webcast live and archived for 90 days.

Movado Group, Inc. (NYSE:MOV) has launched its Spring-Summer 2022 watch and jewelry collection in partnership with Calvin Klein, marking an essential licensing deal for the brand. The collection is now available globally at Calvin Klein retail stores and online. Allison Robbins, President of License Brands at Movado, expressed excitement about collaborating with the iconic lifestyle brand, which boasts significant global recognition and an extensive online presence. The new collection features a minimalist design appealing to contemporary customers, underscoring the brand's unique aesthetic.

Movado Group, Inc. (NYSE: MOV) appointed Maya Peterson to its Board of Directors effective February 1, 2022. The Board now comprises eight members with diverse expertise in finance, digital marketing, and strategy. Peterson, a seasoned marketing leader, brings over 20 years of experience and currently serves at Universal Music Group for Brands. Chairman Efraim Grinberg expressed confidence in her ability to contribute to the company's sustainable growth strategy. Peterson aims to leverage her experience to support Movado's commitment to innovation across its brand portfolio.

Movado Group, Inc. (NYSE: MOV) will present at the 24th Annual ICR Conference on January 10, 2022, at 3:00 pm Eastern Time. The presentation will be led by Efraim Grinberg, Chairman and CEO, along with Sallie DeMarsilis, Executive Vice President and CFO. Movado specializes in design and global distribution of high-quality watches under brands like MOVADO, MVMT, OLIVIA BURTON, and others, operating stores primarily in the U.S. and Canada.

Movado Group, Inc. (NYSE: MOV) reported third quarter net sales of $217.7 million, a remarkable 28.2% increase year-over-year, driven by robust sales growth in the Movado brand. Operating income surged 80% to $41.4 million, with earnings per share at $1.33. The company announced a 25% increase in its quarterly dividend and a new $50 million share repurchase program. With a strong balance sheet and net cash of $201.8 million, Movado is positioned for continued growth, including a planned launch for Calvin Klein in early 2022.

Movado Group, Inc. (NYSE: MOV) will host a conference call on November 23, 2021, at 9:00 a.m. Eastern Time to discuss its third quarter 2022 earnings results. A press release outlining the results will be made available before the market opens that day. The call will feature Efraim Grinberg, CEO, and Sallie DeMarsilis, COO and CFO. Investors can join by calling (877) 407-0784 and referencing conference ID 13725226 or by accessing the live webcast on the company's website. A replay will be available post-call for 90 days.