Profile
Sector:
Consumer CyclicalIndustry:
Luxury GoodsCountry:
United StatesIPO:
30 September 1993Website:
http://www.movadogroup.comNext earnings report:
29 November 2024Last dividends:
16 September 2024Next dividends:
N/APrice
after hours | Fri, 01 Nov 2024 20:02:38 GMTAnalysts recommendations
Institutional Ownership
Included in screeners
MOV Latest News
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 expected to be completed on September 30. Bath & Body Works is no longer representative of the large-cap market space and Movado is no longer representative of the small-cap market space.
Watch designer and seller Movado's Q2 results came in mixed compared to expectations, but the lowered FY2025 outlook underlines poor returns from the increased marketing spend so far. Movado's "When I Move You Move" brand ambassador campaign needs to pay off, and while brand Google searches show stabilization, the brand is still far from good growth. The MOV stock remains unattractive in a base scenario, where the brand's sales remain stagnant and Movado keeps too high cash on its balance sheet.
The fashion conglomerate failed to meet its own expectations for second-quarter performance. It posted decreases on both the top and bottom lines.
Movado's core brands have struggled with maintaining and improving reach, leading to a sustained decline in interest and low growth. The company's revenue and margins have declined in the most recent quarter, with no immediate improvement in sight. We do see attractive qualities with its licensing of brands, as its deep expertise positions the business as an attractive partner to brands.
Movado Group's shares have significantly dropped in recent months, despite the company's solid financial performance in the previous fiscal year. The company's financial performance in the first quarter of the 2024 fiscal year has been disappointing. Management expects overall revenue for the fiscal year to decline by 1.9%, and net profits to reduce by 32.8%. Despite the negative outlook, I maintain a 'buy' rating for Movado Group. The company has no debt and holds $198.3 million in cash and cash equivalents.
PARAMUS, N.J.--(BUSINESS WIRE)--Movado Group, Inc. (NYSE: MOV) invites investors to listen to a broadcast of the Company's conference call to discuss first quarter fiscal 2024 earnings results on Thursday, May 25, 2023 at 9:00 a.m. Eastern Time. A press release detailing the Company's first quarter 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 DeMarsil.
MOV has a diversified brand portfolio with regional strengths that cater to a wide range of customers. A win-win partnership model provides significant opportunities for growth by adding more brands in the future.
Movado's 2023 forecast projects falling sales and profits. The wider outlook is still bright for this consumer discretionary business.
Movado Group, Inc. (NYSE:MOV ) Q4 2023 Earnings Conference Call March 23, 2023 9:00 AM ET Company Participants Efraim Grinberg - Chairman & CEO Sallie DeMarsilis - EVP, COO & CFO Rachel Schacter - IR Conference Call Participants Oliver Chen - TD Cowen Operator Good morning, everyone, and welcome to the Movado Group, Inc. Fourth Quarter 2023 Earnings Conference Call. As a reminder, today's call is being recorded and may not be reproduced in whole or in part without permission from the company.
What type of business is Movado?
Movado Group, Inc. develops, manufactures, markets, and sells watches. Movado Group, Inc. was founded in 1961 and is based in Paramus, New Jersey. The Wholesale segment includes watch design, development, supplier sourcing, marketing, and distribution, as well as after-sales service and delivery. The company sells its products of all its brands to jewelry store chains, department stores, and independent jewelers. The Company operates company-owned retail stores in the Retail segment. The Company's portfolio of watch brands includes Coach Watches, Concord, Ebel, ESQ Movado, Scuderia Ferrari Watches, HUGO BOSS Watches, Juicy Couture Watches, Lacoste Watches, Movado, and Tommy Hilfiger Watches.
What sector is Movado in?
Movado is in the Consumer Cyclical sector
What industry is Movado in?
Movado is in the Luxury Goods industry
What country is Movado from?
Movado is headquartered in United States
When did Movado go public?
Movado initial public offering (IPO) was on 30 September 1993
What is Movado website?
https://www.movadogroup.com
Is Movado in the S&P 500?
No, Movado is not included in the S&P 500 index
Is Movado in the NASDAQ 100?
No, Movado is not included in the NASDAQ 100 index
Is Movado in the Dow Jones?
No, Movado is not included in the Dow Jones index
When was Movado the previous earnings report?
No data
When does Movado earnings report?
The next expected earnings date for Movado is 29 November 2024