Movado Group Stock Price, News & Analysis

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.

Movado Group, NYSE: MOV, will present at the 23rd Annual ICR Conference on January 12, 2021, at 4:30 pm ET. Efraim Grinberg, Chairman and CEO, along with Sallie DeMarsilis, EVP and CFO, will lead the presentation. Movado designs and distributes various watch brands including MOVADO, MVMT, and COACH, and operates retail stores in the U.S. and Canada. This event provides an opportunity for investors and stakeholders to gain insights into the company’s strategies and performance.

Movado Group, Inc. reported its third-quarter financial results for the period ending October 31, 2020, showing adjusted operating income of $25.1 million, up from $24.3 million a year earlier. Despite a 17.4% decline in net sales to $169.9 million, the company noted significant e-commerce growth, with Movado brand online sales surging 159%. The firm ended the quarter with a robust cash position of $163.2 million. However, net income fell to $14.8 million from $17.8 million, impacted by pandemic-related challenges and a higher effective tax rate. No outlook for fiscal 2021 is provided due to COVID-19 uncertainties.

Movado Group, Inc. (NYSE: MOV) has partnered with eShopWorld (ESW) to enhance the online shopping experience for Movado and MVMT customers globally. This collaboration aims to streamline cross-border e-commerce, ensuring a localized and seamless shopping journey. The partnership is timely, addressing early holiday demand amidst the ongoing effects of COVID-19. ESW’s technology will optimize customer interactions, from payments to deliveries, while Movado seeks to expand brand awareness and manage global inventory effectively.