Welcome to our dedicated page for Movado Group news (Ticker: MOV), a resource for investors and traders seeking the latest updates and insights on Movado Group stock.
Movado Group, Inc. designs, sources, globally distributes and sells watches, with jewelry and other accessories as smaller categories, and operates Movado Company Stores in the United States and Canada. Its brand portfolio includes MOVADO, MVMT, OLIVIA BURTON, EBEL, CONCORD and licensed names such as CALVIN KLEIN, COACH, TOMMY HILFIGER, HUGO BOSS and LACOSTE.
Company news commonly covers quarterly and fiscal-year results, sales by owned and licensed brands, wholesale, direct-to-consumer and Company Stores performance, gross margin effects from channel mix, U.S. tariffs and foreign exchange, dividend declarations, brand campaigns, investor presentations and corporate responsibility reporting.
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Movado Group, Inc. (NYSE: MOV) reported fiscal 2023 net sales of $751.9 million, a 2.7% increase year-over-year. The company achieved EPS of $4.12 and adjusted EPS of $4.22. In Q4, net sales fell 5.7% to $194.3 million, while EPS decreased to $1.00. The company declared a special dividend of $1.00 per share, highlighting confidence in future performance. Gross margin improved to 57.7% for the year. Although international sales grew, U.S. sales dropped 3.5%. Looking ahead, the company expects fiscal 2024 net sales to range from $725 million to $750 million.
Movado Group, Inc. (NYSE: MOV) will hold a conference call on March 23, 2023, at 9:00 a.m. Eastern Time, to discuss its fourth quarter and fiscal 2023 earnings results. A press release with detailed results will be released before the market opens on the same day. The call will be hosted by Chairman and CEO Efraim Grinberg and COO/CFO Sallie DeMarsilis. Interested investors can participate by dialing (877) 407-0784 and using conference ID number 13736686. The call will also be available via webcast on the company’s website and archived for 90 days.
Movado Group, Inc. (NYSE: MOV) has announced the promotion of Margot Grinberg to President of the Movado Brand and Senior Vice President of E-Commerce. Previously serving as Vice President for E-Commerce, Merchandising, and Digital Marketing, Grinberg will now oversee day-to-day operations and develop growth strategies for the brand. Alan Chinich continues as President of the North American region. Grinberg has been with the company since 2014, demonstrating leadership in driving brand innovation and expanding the digital business.
Movado Group, Inc. (NYSE: MOV) will participate in the 25th Annual ICR Conference from January 9 to January 11, 2023, in Orlando, Florida. Efraim Grinberg, Chairman and CEO, along with Sallie DeMarsilis, Executive VP and CFO, will present on January 9 at 1:30 PM Eastern Time. The company designs and sells luxury watches under various brands, including Movado, MVMT, and Calvin Klein, alongside operating Movado Company Stores in the U.S. and Canada.
Movado hosted the Turn 2 Foundation's 'Jeter's Leaders' program, providing high school students with an Orchestral Tribute to Notorious B.I.G. at Lincoln Center. This event, held on December 4, included discussions on the arts' role in social justice, featuring notable speakers and was moderated by Movado's corporate responsibility director. Derek Jeter emphasized the importance of arts in education, and Movado’s CEO expressed excitement for the continuing partnership with the foundation, which has contributed over $35 million towards youth empowerment since its establishment in 1996.
Movado Group, Inc. reported third-quarter results for fiscal 2023, with net sales of $211.4 million, down 2.9% from the previous year, but up 3.4% in constant currency. Operating income reached $38.3 million, while EPS was $1.28, slightly lower than last year's $1.33. The company updated its fiscal 2023 outlook, anticipating net sales between $740 million and $750 million, down from $780 million to $790 million. Additionally, it declared a quarterly dividend of $0.35 per share.
Movado Group, Inc. (NYSE: MOV) will host a conference call on November 22, 2022, at 9:00 a.m. ET to discuss its third quarter fiscal 2023 earnings. A press release with earnings details will be issued before markets open. The call will feature CEO Efraim Grinberg and CFO Sallie DeMarsilis. Interested parties can join by dialing (877) 407-0784 and referencing conference ID 13734526. The call will also be available via webcast on the company’s website and archived for 90 days.
Movado Group, Inc. (NYSE: MOV) reported strong financial results for the second quarter and first half of fiscal 2023, with net sales increasing by 5.1% to $182.8 million, and operating income rising to $30.7 million. The earnings per share increased to $1.05 compared to $0.82 in the prior year. Despite a 5.4% decline in U.S. net sales, international sales surged 15.3%. The company anticipates net sales of $780-$790 million for the year, slightly down from prior guidance amid foreign exchange concerns.
Movado Group, Inc. (NYSE: MOV) will host a conference call on August 25, 2022, at 9:00 a.m. ET to discuss its second quarter fiscal 2023 earnings results. Prior to the call, a press release outlining the earnings will be released. The call will be led by Efraim Grinberg, Chairman and CEO, and Sallie DeMarsilis, Chief Operating Officer and CFO. Investors can join the call by dialing (877) 407-0784 and using conference ID 13732416. The conference call will also be available via webcast.