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. (NYSE: MOV) is a globally renowned company specializing in the design, manufacturing, and distribution of timepieces and accessories. Established as one of the world’s premier watchmakers, Movado Group manages a portfolio of nine distinguished brands: Movado, Ebel, Concord, Coach, Hugo Boss, Juicy Couture, Lacoste, Scuderia Ferrari, Tommy Hilfiger, and Rebecca Minkoff. The company’s commitment to excellence is evident in each of its products, which combine innovative design with superior craftsmanship.
Operating through two main segments, Watch and Accessory Brands and Company Stores, Movado Group offers a diverse range of premium watches and accessories. The Watch and Accessory Brands segment is the primary revenue generator, encompassing the design, production, and distribution of high-quality watches and related goods. Conversely, the Company Stores segment manages retail outlet locations across the United States and Canada, providing direct access to consumers.
Movado Group’s international presence is substantial, with the majority of its revenue stemming from markets outside the United States. This global footprint underscores the brand's widespread appeal and the effectiveness of its distribution strategy.
Recent achievements for Movado Group include the expansion of their licensed brand portfolio and strategic partnerships that enhance their market position. Furthermore, the company consistently innovates, ensuring that their collections remain contemporary while maintaining the timeless elegance that they are known for.
Financially, Movado Group has demonstrated stability and growth, navigating the challenges of the global market with resilience. The company’s strategic focus on expanding its brand portfolio, coupled with its dedication to quality and innovation, positions it as a key player in the luxury watch industry.
For those interested in joining the team, Movado Group offers various career opportunities. More details can be found on their career page.
Movado Group, Inc. (NYSE:MOV) has launched its Spring-Summer 2022 watch and jewelry collection in partnership with Calvin Klein, marking an essential licensing deal for the brand. The collection is now available globally at Calvin Klein retail stores and online. Allison Robbins, President of License Brands at Movado, expressed excitement about collaborating with the iconic lifestyle brand, which boasts significant global recognition and an extensive online presence. The new collection features a minimalist design appealing to contemporary customers, underscoring the brand's unique aesthetic.
Movado Group, Inc. (NYSE: MOV) appointed Maya Peterson to its Board of Directors effective February 1, 2022. The Board now comprises eight members with diverse expertise in finance, digital marketing, and strategy. Peterson, a seasoned marketing leader, brings over 20 years of experience and currently serves at Universal Music Group for Brands. Chairman Efraim Grinberg expressed confidence in her ability to contribute to the company's sustainable growth strategy. Peterson aims to leverage her experience to support Movado's commitment to innovation across its brand portfolio.
Movado Group, Inc. (NYSE: MOV) will present at the 24th Annual ICR Conference on January 10, 2022, at 3:00 pm Eastern Time. The presentation will be led by Efraim Grinberg, Chairman and CEO, along with Sallie DeMarsilis, Executive Vice President and CFO. Movado specializes in design and global distribution of high-quality watches under brands like MOVADO, MVMT, OLIVIA BURTON, and others, operating stores primarily in the U.S. and Canada.
Movado Group, Inc. (NYSE: MOV) reported third quarter net sales of $217.7 million, a remarkable 28.2% increase year-over-year, driven by robust sales growth in the Movado brand. Operating income surged 80% to $41.4 million, with earnings per share at $1.33. The company announced a 25% increase in its quarterly dividend and a new $50 million share repurchase program. With a strong balance sheet and net cash of $201.8 million, Movado is positioned for continued growth, including a planned launch for Calvin Klein in early 2022.
Movado Group, Inc. (NYSE: MOV) will host a conference call on November 23, 2021, at 9:00 a.m. Eastern Time to discuss its third quarter 2022 earnings results. A press release outlining the results will be made available before the market opens that day. The call will feature Efraim Grinberg, CEO, and Sallie DeMarsilis, COO and CFO. Investors can join by calling (877) 407-0784 and referencing conference ID 13725226 or by accessing the live webcast on the company's website. A replay will be available post-call for 90 days.
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.
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