Profile
Sector:
Consumer CyclicalIndustry:
Luxury GoodsCountry:
United StatesIPO:
30 September 1993Website:
http://www.movadogroup.comNext earnings report:
23 August 2024Last dividends:
12 June 2024Next dividends:
N/APrice
after hours | Wed, 03 Jul 2024 17:01:32 GMTAnalysts recommendations
Institutional Ownership
MOV Latest News
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 does Movado report earnings?
The next expected earnings date for Movado is 23 August 2024