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. (MOV) is a global leader in luxury watchmaking, renowned for blending timeless craftsmanship with modern design across its portfolio of owned and licensed brands. This news hub provides investors and industry observers with direct access to the company's official announcements and market-moving developments.
Track Movado's financial performance through quarterly earnings reports, strategic initiatives like retail expansions, and innovations in horology. Our curated feed includes updates on brand partnerships, product launches, and operational milestones that shape the company's position in the premium accessories market.
Key areas of coverage include:
• Earnings calls and SEC filings
• Licensed brand collaborations
• International distribution updates
• Retail strategy evolution
Bookmark this page for streamlined monitoring of Movado's business trajectory, with all content vetted for relevance to investment analysis and market research. Check regularly for authoritative updates from primary sources.
Movado has partnered with renowned Cuban-American artist Carmen Herrera to launch a limited Artist Series of five unique timepieces, inspired by her geometric abstract art. The collection reflects Herrera's artistic journey and will include only 100 pieces of each design, with seven exclusive collector's sets already sold out. Movado will donate a portion of proceeds to the Public Art Fund. This collaboration builds on their previous successful partnership, showcasing a blend of modernism and functional art.
Movado Group, Inc. (NYSE: MOV) reported record second quarter results with net sales of $173.9 million, a 96.4% increase from fiscal 2021 and 10.2% from fiscal 2020. Operating income rose to $24.6 million, compared to a loss of $8.9 million last year. Earnings per share reached $0.82. The company ended the quarter with cash of $199.7 million and no debt, while declaring a quarterly dividend of $0.20 per share. Looking ahead, Movado increased its fiscal 2022 outlook for net sales to $680-$695 million, anticipating a 25% effective tax rate.
Movado Group, Inc. (NYSE: MOV) will host a conference call on August 26, 2021, at 9:00 a.m. ET to discuss its second quarter fiscal year 2022 earnings results. A press release with detailed earnings information will be available before the market opens. The call will be led by Efraim Grinberg, Chairman and CEO, alongside Sallie DeMarsilis, COO and CFO. Interested parties can join the call by dialing (877) 407-0784 or by accessing the live webcast at www.movadogroup.com.
Movado Group, Inc. (NYSE: MOV) announced its participation in the Jefferies Virtual Consumer Conference on June 23, 2021, at 8:35 am ET. A live webcast will be available on the company's website, with an online replay accessible post-event. Movado Group designs and distributes several well-known watch brands, including MOVADO®, MVMT®, and COACH®, alongside operating company stores in the U.S. and Canada.
Movado Group, Inc. (NYSE: MOV) reported a 93.5% increase in first quarter net sales, totaling $134.8 million, compared to $69.7 million in the previous year. Adjusted operating income reached $14.1 million, a significant recovery from a loss of $17.6 million last year, while adjusted diluted EPS was $0.43 versus a loss of $0.56 in the prior year. The company maintained a solid balance sheet with $187 million in cash. However, international sales fell 20.8% compared to pre-pandemic levels due to COVID-19 impacts. The fiscal 2022 outlook anticipates net sales of $650 million to $665 million.
Movado Group, Inc. (NYSE: MOV) will hold a conference call on May 27, 2021, at 9:00 a.m. ET to discuss its first quarter fiscal year 2022 earnings results. A press release with detailed results will be issued prior to the market opening. The call will be led by Efraim Grinberg, Chairman and CEO, and Sallie DeMarsilis, COO and CFO. Interested participants can join by calling (877) 407-0784 or listening via webcast at www.movadogroup.com. The call will be archived for 90 days, and a telephonic replay will be available until June 10, 2021.
Movado Group, Inc. (NYSE: MOV) reported fourth quarter and fiscal year 2021 results, showing significant progress despite a challenging environment. Fourth quarter net sales reached $178.3 million, down 6.6% year-over-year, but operating income improved to $23.9 million from $8.3 million in the prior year. Adjusted diluted EPS was $0.84, a rise from $0.15. The company ended the year with $224 million in cash and announced a $25 million share repurchase program alongside a quarterly dividend of $0.20 per share, indicating confidence in future growth.
Movado Group, Inc. (NYSE: MOV) announced a conference call for investors on March 25, 2021, at 9:00 a.m. ET to discuss its fourth quarter and fiscal year 2021 earnings results. The detailed earnings press release will be issued before the market opens that day. Participants can join the call by dialing (877) 407-0784 and using the conference ID 13717734. The call will also be available via live webcast at www.movadogroup.com, with a replay accessible afterward until April 8, 2021.
Movado Group, Inc. (NYSE: MOV) announced a cash dividend of $0.10 per share, payable on February 5, 2021, to shareholders of record on January 21, 2021. CEO Efraim Grinberg emphasized the importance of this dividend in building long-term shareholder value, highlighting the company's strong cash flow generation and discipline during the COVID-19 pandemic. As of the third quarter, Movado reported $163.2 million in cash, reduced inventory, and lowered debt, demonstrating confidence in future growth.
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