Movado Group (MOV +8.7%) raises its full-year guidance, saying it expects Q1 profit to soar on a...

|About: Movado Group, Inc. (MOV)|By:, SA News Editor

Movado Group (MOV +8.7%) raises its full-year guidance, saying it expects Q1 profit to soar on a double-digit increase in sales of its accessible luxury and licensed brand categories. It now expects to earn around $29M - $29.7M, or $1.15 per share, compared with previous guidance of $27M - $28M, or $1.10 per share. Sales are expected to increase around 9% to $505M - $510M, up from prior estimates of $500M - $505M.