Movado Group, Inc. designs, sources, markets, and distributes watches worldwide. It operates in two segments, Watch and Accessory Brands, and Company Stores. The company offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands, such as Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, and Scuderia Ferrari. It also provides after-sales and shipping services. As of January 31, 2021, the company operated 47 retail outlet locations. Its customers include jewelry store chains, department stores, independent regional jewelers, licensors' retail stores, and a network of independent distributors. The company also sells directly to consumers via its e-commerce platforms. The company was formerly known as North American Watch Corporation and changed its name to Movado Group, Inc. in 1996. Movado Group, Inc. was founded in 1961 and is based in Paramus, New Jersey.
IPO Year:
Exchange: NYSE
Website: movadogroup.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 9/29/2023 | $41.00 | Buy | The Benchmark Company |
Benchmark analyst Michael Legg reiterates Movado Group (NYSE:MOV) with a Buy and maintains $41 price target.
Benchmark analyst Michael Legg reiterates Movado Group (NYSE:MOV) with a Buy and maintains $41 price target.
Movado Group Inc. (NYSE:MOV) shares are trading lower after the company reported first-quarter results. The company reported quarterly earnings per share of 13 cents, beating the street view of 12 cents. Quarterly revenues of $136.669 million missed the analyst consensus of $145.200 million. Net sales decreased 5.7% (decreased 6.1% on a constant dollar basis), owing to declines in wholesale customers’ brick and mortar stores and Movado Company Stores. Movado generated a gross margin of 55.3% in the quarter under review, as compared to 56.6% in the year-ago period. The decrease in gross margin percentage was primarily the result of unfavorable changes in channel and product mix, a
Fiscal 2025 Outlook The Company continues to expect fiscal 2025 net sales to be in a range of approximately $700 million to $710 million, gross profit of approximately 55% of net sales, and operating income in a range of approximately $32 million to $35 million. Assuming no changes to current tax regulations, the Company anticipates an effective tax rate of approximately 22% for the fiscal year and earnings in a range of approximately $1.20 to $1.30 per diluted share.
Movado Group (NYSE:MOV) reported quarterly earnings of $0.13 per share which beat the analyst consensus estimate of $0.12 by 8.33 percent. The company reported quarterly sales of $136.669 million which missed the analyst consensus estimate of $145.200 million by 5.88 percent. This is a 5.68 percent decrease over sales of $144.905 million the same period last year.
On CNBC's “Mad Money Lightning Round,” Jim Cramer said GigaCloud Technology (NASDAQ:GCT) is an e-commerce play that he just doesn't know enough about. He needs to do more work on that one. On March 15, GigaCloud Technology reported better-than-expected fourth-quarter FY 2023 earnings and issued 2024 guidance. Revenue rose 94.8% Y/Y to $244.7 million, beating the consensus of $224.2 million, led by higher market demand for large parcel merchandise. “It never really does anything. I think its stuff is kind of overpriced, but you do get that yield,” Cramer said when asked about Movado Group (NYSE:MOV). “I feel it's neither here nor there at that price.” On March 26, Movado reported fou
Benchmark analyst Michael Legg reiterates Movado Group (NYSE:MOV) with a Buy and maintains $41 price target.
Movado Group Inc. (NYSE:MOV) shares are trading lower in the morning session on Tuesday. The company reported fourth-quarter adjusted earnings per share of 55 cents, beating the analyst consensus of 39 cents. Quarterly revenue of $179.62 million beat the street view of $174.80 million. The company generated a gross margin of 53.9% as compared to 56.2% in the fourth quarter of fiscal 2023. Movado reported a fourth-quarter adjusted operating income of $13.8 million compared to $26.8 million in the year-ago period. The company approved the payment on April 23, 2024, of a cash dividend in the amount of $0.35 for each share of the company’s outstanding common stock. During the four
The Company expects fiscal 2025 net sales to be in a range of approximately $700 million to $710 million, gross profit of approximately 55% of net sales, and operating income in a range of approximately $32 million to $35 million. Assuming no changes to current tax regulations, the Company anticipates an effective tax rate of approximately 22% for the fiscal year and earnings in a range of approximately $1.20 to $1.30 per diluted share.
Movado Group (NYSE:MOV) reported quarterly earnings of $0.55 per share which beat the analyst consensus estimate of $0.39 by 41.03 percent. This is a 46.6 percent decrease over earnings of $1.03 per share from the same period last year. The company reported quarterly sales of $179.62 million which beat the analyst consensus estimate of $174.80 million by 2.76 percent. This is a 7.54 percent decrease over sales of $194.27 million the same period last year.
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NEW YORK, Sept. 24, 2024 /PRNewswire/ -- Amentum Holdings Inc. (NYSE:AMTM) will be added to the S&P 500 effective prior to the open of trading on Monday, September 30, replacing Bath & Body Works, Inc. (NYSE:BBWI), which will be moved to the S&P SmallCap 600 effective prior to the open of trading on Tuesday, October 1. Bath & Body Works will replace Movado Group, Inc. (NYSE:MOV) in the S&P SmallCap 600 also effective prior to the open of trading on October 1. S&P 500 constituent Jacob's Solutions Inc. (NYSE:J) is spinning off its Critical Mission Solutions and Cyber Intelligence business, which will merge with private Amentum to create newly publicly traded Amentum Holdings in a transaction
~ Net Sales of $159.3 million ~ ~ Operating Income of $3.0 million ~ ~ EPS of $0.16 ~ ~ Updates Fiscal Year 2025 Outlook ~ ~ Board Declares Quarterly Dividend of $0.35 Per Share ~ Movado Group, Inc. (NYSE:MOV) today announced second quarter and six-month results for the periods ended July 31, 2024. Efraim Grinberg, Chairman and Chief Executive Officer, stated, "While increased marketing investment coupled with our initiatives to enhance retail performance drove improvement in our sales trend from the first quarter, second quarter sales and earnings were below our expectations due to the challenging consumer spending environment compounded by increased expenses to support future
Movado, Swiss watchmaker since 1881, makes its next move and partners with legendary and emerging icons from Music, Sports, & Film MOVADO (NYSE:MOV) is proud to announce its new roster of brand ambassadors starring in "When I Move You Move," the brand's new global campaign featuring legendary and emerging icons in acting, music, sports, and business. The campaign includes renowned actress and entrepreneur Jessica Alba, legendary Academy Award winning actress Julianne Moore, iconic Grammy Award winning rapper, actor and entrepreneur Ludacris, Pro Bowl and All-Pro running back Christian McCaffrey, and All-Star point guard and 2024 Team USA Summer Olympics team member and gold medalist, Tyre
Movado Group, Inc. (NYSE:MOV) invites investors to listen to a broadcast of the Company's conference call to discuss second quarter fiscal year 2025 earnings results on Thursday, September 5, 2024 at 9:00 a.m. Eastern Time. A press release detailing the Company's second quarter fiscal year 2025 results will be issued before the market opens and prior to the call. The conference call will be hosted by Efraim Grinberg, Chairman and Chief Executive Officer, and Sallie DeMarsilis, Executive Vice President, Chief Operating Officer and Chief Financial Officer. Investors and analysts interested in participating on the call are invited to dial (877) 407-0784 and reference conference ID number 137
~ Net Sales of $136.7 million ~ ~ Operating Income of $3.3 million ~ ~ EPS of $0.13 ~ ~ Board Approves Quarterly Dividend of $0.35 Per Share ~ Movado Group, Inc. (NYSE:MOV) today announced first quarter fiscal 2025 results for the period ended April 30, 2024. Fiscal 2025 First Quarter Highlights Delivered net sales of $136.7 million vs. $144.9 million in the prior year period; Generated gross margin of 55.3% as compared to 56.6% in the first quarter of fiscal 2024; Generated operating income of $3.3 million as compared to $10.9 million in the prior year period; Achieved diluted earnings per share of $0.13 as compared to $0.40 in the prior year period; and Ended the
Movado Group, Inc. (NYSE:MOV) invites investors to listen to a broadcast of the Company's conference call to discuss first quarter fiscal year 2025 earnings results on Thursday, May 30, 2024 at 9:00 a.m. Eastern Time. A press release detailing the Company's first quarter fiscal year 2025 results will be issued before the market opens and prior to the call. The conference call will be hosted by Efraim Grinberg, Chairman and Chief Executive Officer, and Sallie DeMarsilis, Executive Vice President, Chief Operating Officer and Chief Financial Officer. Investors and analysts interested in participating on the call are invited to dial (877) 407-0784 and reference conference ID number 13746677 a
The 2-time AMA Pro Motocross & Supercross Champ and MVMT Friend of Brand renews partnership, setting the scene for more collaborations MVMT, the Venice Beach watch brand owned by Movado Group, Inc. (NYSE:MOV) who just celebrated their ten year anniversary of modern, unexpected watchmaking, is going full speed ahead with its partnership with World Champion Motocross Racer, Jett Lawrence. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240501929062/en/MVMT, a Movado Group, Inc. Brand, Ramps Up Partnership with World Champion Motocross Racer Jett Lawrence. (Photo: Business Wire) Crowned the "Justin Bieber of motocross" by ESPN, La
Movado Group, Inc. (NYSE:MOV) today announced the appointment of Debbie Forman-Pavan to President of North America Sales. In this role, Ms. Forman-Pavan will be responsible for leading all avenues of sales across North America, while increasing revenue growth, and continuing to support the solid foundation of the business. Ms. Forman-Pavan is assuming this role from Alan Chinich, who has announced his retirement after nineteen years with the Company. Mr. Chinich will remain as an advisor to support the transition until his retirement at the beginning of July. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240402568130/en/Debbie
~ Fiscal 2024 Net Sales of $672.6 million ~ ~ Fiscal 2024 EPS of $2.06 and Fiscal 2024 Adjusted EPS of $2.13 ~ ~ Fourth Quarter Net Sales of $179.6 million ~ ~ Fourth Quarter EPS of $0.53 and Fourth Quarter Adjusted EPS of $0.55 ~ ~ Board Declares Quarterly Dividend ~ ~ Launches Investment Growth Strategy ~ Movado Group, Inc. (NYSE:MOV) today announced fourth quarter and fiscal year 2024 results for the periods ended January 31, 2024. Fiscal Year 2024 Highlights (See attached table for GAAP and Non-GAAP measures) Delivered net sales of $672.6 million vs. $751.9 million in fiscal 2023; Generated operating income of $54.7 million as compared to $120.4 million in the prior
Movado Group, Inc. (NYSE:MOV) invites investors to listen to a broadcast of the Company's conference call to discuss fourth quarter and fiscal year 2024 earnings results on Tuesday, March 26, 2024 at 9:00 a.m. Eastern Time. A press release detailing the Company's fourth quarter and fiscal year 2024 results will be issued before the market opens and prior to the call. The conference call will be hosted by Efraim Grinberg, Chairman and Chief Executive Officer, and Sallie DeMarsilis, Executive Vice President, Chief Operating Officer and Chief Financial Officer. Investors and analysts interested in participating on the call are invited to dial (877) 407-0784 and reference conference ID number
The Benchmark Company initiated coverage of Movado Group with a rating of Buy and set a new price target of $41.00
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~ Net Sales of $159.3 million ~ ~ Operating Income of $3.0 million ~ ~ EPS of $0.16 ~ ~ Updates Fiscal Year 2025 Outlook ~ ~ Board Declares Quarterly Dividend of $0.35 Per Share ~ Movado Group, Inc. (NYSE:MOV) today announced second quarter and six-month results for the periods ended July 31, 2024. Efraim Grinberg, Chairman and Chief Executive Officer, stated, "While increased marketing investment coupled with our initiatives to enhance retail performance drove improvement in our sales trend from the first quarter, second quarter sales and earnings were below our expectations due to the challenging consumer spending environment compounded by increased expenses to support future
Movado Group, Inc. (NYSE:MOV) invites investors to listen to a broadcast of the Company's conference call to discuss second quarter fiscal year 2025 earnings results on Thursday, September 5, 2024 at 9:00 a.m. Eastern Time. A press release detailing the Company's second quarter fiscal year 2025 results will be issued before the market opens and prior to the call. The conference call will be hosted by Efraim Grinberg, Chairman and Chief Executive Officer, and Sallie DeMarsilis, Executive Vice President, Chief Operating Officer and Chief Financial Officer. Investors and analysts interested in participating on the call are invited to dial (877) 407-0784 and reference conference ID number 137
~ Net Sales of $136.7 million ~ ~ Operating Income of $3.3 million ~ ~ EPS of $0.13 ~ ~ Board Approves Quarterly Dividend of $0.35 Per Share ~ Movado Group, Inc. (NYSE:MOV) today announced first quarter fiscal 2025 results for the period ended April 30, 2024. Fiscal 2025 First Quarter Highlights Delivered net sales of $136.7 million vs. $144.9 million in the prior year period; Generated gross margin of 55.3% as compared to 56.6% in the first quarter of fiscal 2024; Generated operating income of $3.3 million as compared to $10.9 million in the prior year period; Achieved diluted earnings per share of $0.13 as compared to $0.40 in the prior year period; and Ended the
Movado Group, Inc. (NYSE:MOV) invites investors to listen to a broadcast of the Company's conference call to discuss first quarter fiscal year 2025 earnings results on Thursday, May 30, 2024 at 9:00 a.m. Eastern Time. A press release detailing the Company's first quarter fiscal year 2025 results will be issued before the market opens and prior to the call. The conference call will be hosted by Efraim Grinberg, Chairman and Chief Executive Officer, and Sallie DeMarsilis, Executive Vice President, Chief Operating Officer and Chief Financial Officer. Investors and analysts interested in participating on the call are invited to dial (877) 407-0784 and reference conference ID number 13746677 a
~ Fiscal 2024 Net Sales of $672.6 million ~ ~ Fiscal 2024 EPS of $2.06 and Fiscal 2024 Adjusted EPS of $2.13 ~ ~ Fourth Quarter Net Sales of $179.6 million ~ ~ Fourth Quarter EPS of $0.53 and Fourth Quarter Adjusted EPS of $0.55 ~ ~ Board Declares Quarterly Dividend ~ ~ Launches Investment Growth Strategy ~ Movado Group, Inc. (NYSE:MOV) today announced fourth quarter and fiscal year 2024 results for the periods ended January 31, 2024. Fiscal Year 2024 Highlights (See attached table for GAAP and Non-GAAP measures) Delivered net sales of $672.6 million vs. $751.9 million in fiscal 2023; Generated operating income of $54.7 million as compared to $120.4 million in the prior
Movado Group, Inc. (NYSE:MOV) invites investors to listen to a broadcast of the Company's conference call to discuss fourth quarter and fiscal year 2024 earnings results on Tuesday, March 26, 2024 at 9:00 a.m. Eastern Time. A press release detailing the Company's fourth quarter and fiscal year 2024 results will be issued before the market opens and prior to the call. The conference call will be hosted by Efraim Grinberg, Chairman and Chief Executive Officer, and Sallie DeMarsilis, Executive Vice President, Chief Operating Officer and Chief Financial Officer. Investors and analysts interested in participating on the call are invited to dial (877) 407-0784 and reference conference ID number
~ Net Sales of $187.7 million ~ ~ Operating Income of $20.7 million; Adjusted Operating Income of $21.1 million ~ ~ EPS of $0.77 and Adjusted EPS of $0.78 ~ ~ Company Updates Fiscal 2024 Outlook ~ ~ Board Declares Quarterly Dividend ~ Movado Group, Inc. (NYSE:MOV) today announced third quarter and nine-month results for the periods ended October 31, 2023. Fiscal 2024 Third Quarter Highlights (See table below for GAAP and Non-GAAP measures) Reported net sales of $187.7 million versus $211.4 million in the third quarter of fiscal 2023; Generated gross margin of 54.5% compared to 57.3% in the prior year period; Generated operating income of $20.7 million as compared to $38
Movado Group, Inc. (NYSE:MOV) invites investors to listen to a broadcast of the Company's conference call to discuss third quarter fiscal 2024 earnings results on Thursday, November 30, 2023 at 9:00 a.m. Eastern Time. A press release detailing the Company's third quarter fiscal 2024 results will be issued before the market opens and prior to the call. The conference call will be hosted by Efraim Grinberg, Chairman and Chief Executive Officer, and Sallie DeMarsilis, Executive Vice President, Chief Operating Officer and Chief Financial Officer. Investors and analysts interested in participating on the call are invited to dial (877) 407-0784 and reference conference ID number 13742649 approx
~ Net Sales of $160.4 million ~ ~ Operating Income of $9.6 million; Adjusted Operating Income of $10.3 million ~ ~ EPS of $0.36 and Adjusted EPS of $0.38 ~ ~ Updates Fiscal Year 2024 Outlook ~ ~ Board Declares Quarterly Dividend of $0.35 Per Share ~ Movado Group, Inc. (NYSE:MOV) today announced second quarter and six-month results for the periods ended July 31, 2023. Efraim Grinberg, Chairman and Chief Executive Officer, stated, "We managed our business well, delivering second quarter net sales and earnings within our range of expectations despite operating in a challenging retail environment for our category, particularly in the United States and Europe, our largest markets. Wh
Movado Group, Inc. (NYSE:MOV) invites investors to listen to a broadcast of the Company's conference call to discuss second quarter fiscal 2024 earnings results on Thursday, August 24, 2023 at 9:00 a.m. Eastern Time. A press release detailing the Company's second quarter fiscal 2024 results will be issued before the market opens and prior to the call. The conference call will be hosted by Efraim Grinberg, Chairman and Chief Executive Officer, and Sallie DeMarsilis, Executive Vice President, Chief Operating Officer and Chief Financial Officer. Investors and analysts interested in participating on the call are invited to dial (877) 407-0784 and reference conference ID number 13740661 approx
NEW YORK, Sept. 24, 2024 /PRNewswire/ -- Amentum Holdings Inc. (NYSE:AMTM) will be added to the S&P 500 effective prior to the open of trading on Monday, September 30, replacing Bath & Body Works, Inc. (NYSE:BBWI), which will be moved to the S&P SmallCap 600 effective prior to the open of trading on Tuesday, October 1. Bath & Body Works will replace Movado Group, Inc. (NYSE:MOV) in the S&P SmallCap 600 also effective prior to the open of trading on October 1. S&P 500 constituent Jacob's Solutions Inc. (NYSE:J) is spinning off its Critical Mission Solutions and Cyber Intelligence business, which will merge with private Amentum to create newly publicly traded Amentum Holdings in a transaction
Movado Group, Inc. (NYSE:MOV) today announced the appointment of Debbie Forman-Pavan to President of North America Sales. In this role, Ms. Forman-Pavan will be responsible for leading all avenues of sales across North America, while increasing revenue growth, and continuing to support the solid foundation of the business. Ms. Forman-Pavan is assuming this role from Alan Chinich, who has announced his retirement after nineteen years with the Company. Mr. Chinich will remain as an advisor to support the transition until his retirement at the beginning of July. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240402568130/en/Debbie
Movado Group, Inc. (NYSE:MOV) today announced the appointment of Michelle Kennedy to Senior Vice President, Human Resources, effective immediately. In this role, Ms. Kennedy will be responsible for the Company's global human resources strategy and operations; talent management, including recruitment and leadership development; and compensation and benefits. Previously, the position was held by Vivian D'Elia, who has been with Movado Group for close to 30 years, and will remain with the Company as an advisor to support the transition until her retirement at the beginning of July. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230
Movado Group, Inc. (NYSE:MOV) today announced the appointment of Stéphane Gerschel as the Company's Chief Marketing Officer ("CMO"), effective April 18, 2022. As CMO, Mr. Gerschel will leverage his expertise in global marketing to drive awareness and interest for the Company's portfolio of compelling brands with a focus on maximizing the strength of its Movado brand around the world. "We are thrilled to welcome Stéphane to Movado Group's leadership team as Chief Marketing Officer. We believe our brands will benefit greatly from his strong and expansive experience directing brand strategy in the luxury industry," stated Chairman and Chief Executive Officer of Movado Group, Efraim Grinberg.
Movado Group (NYSE:MOV) today announced the appointment of Eran Cohen as the new Chief Executive Officer of its MVMT brand, effective March 16th. Mr. Cohen will be based at MVMT's headquarters in Los Angeles, CA and will report to Behzad Soltani EVP Commercial President and CTO, Movado Group. "I am thrilled and excited to welcome Eran to our team as we begin the next chapter for MVMT," said Efraim Grinberg, Chairman and CEO, Movado Group. "He has a plethora of experience in brand building and most recently held the role of CEO and President at St. John Knits where he successfully led the reinvigoration of the brand. I look forward to working with Eran on executing against our strategic pri
PARAMUS, N.J.--(BUSINESS WIRE)--Movado Group, Inc. (NYSE: MOV), today announced that its Board of Directors has declared a cash dividend of $0.10 per share. The dividend is payable on February 5, 2021 to shareholders of record on January 21, 2021. Commenting on the dividend announcement, Efraim Grinberg, Chairman and Chief Executive Officer, stated: “We are pleased to announce a cash dividend. Movado Group is committed to building long-term shareholder value and we believe this dividend declaration advances this objective. Since the onset of the COVID-19 pandemic, our team has intently focused on executing with discipline to strengthen our balance sheet, and as of third quarter end
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