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.