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Tue, Feb. 2, 10:21 AM
- Strength shown by Michael Kors (KORS +16.1%) in digital channels, Japan, and across much of Europe isn't going unnoticed in the apparel sector.
- G-III Apparel (GIII 1.4%), PVH Corp (PVH +3.2%), Vera Bradley (VRA +5%), Fossil (FOSL +1.8%), Lululemon (LULU +2.5%), Kate Spade (KATE +1.1%), and Movado (MOV +0.5%) are all higher on a day broad market averages are wilting.
- Previously: Michael Kors Holdings beats by $0.13, beats on revenue (Feb. 2)
- Previously: Michael Kors soars after earnings shine (Feb. 2)
Thu, Jan. 28, 3:03 PM
- Swiss watchmakers are looking for new markets and introducing products at lower price points due to soft demand in Europe.
- Weak Chinese tourism, the strong Swiss franc, and competition at lower prices points from Apple Watch and other smartwatch introductions have put pressure on the high end.
- "We expect 2016 to be a very, very difficult year," warns HYT Chief Vincent Perriard.
- Related stocks: OTCPK:SWGAY, MOV, TIF, OTCPK:CFRUY, OTCPK:LVMHF, OTCPK:HESAF,
Tue, Jan. 26, 3:04 PM
- Coach (COH +10.3%) is up 10% after a penny beat over consensus Q4 earnings estimates.
- Movado (MOV +5.1%), Kate Spade (KATE +2.9%), Michael Kors (KORS +2.9%), and Vera Bradley (VRA +1.4%) are all higher after the Coach print, although some traders are expressing caution.
- Coach's sales growth was driven largely by the recently-acquired Stuart Weitzman brand, not handbags, and the company warned on the level of promotional activity with handbag sellers.
- Previously: Coach beats by $0.01, misses on revenue (Jan. 26 2016)
- Previously: Coach higher after results and guidance satisfy investors (Jan. 26 2016)
Nov. 24, 2015, 7:22 AM
- Movado (NYSE:MOV) reports net sales rose 2.1% on a constant currency basis in Q3.
- Gross margin rate increased 90 bps to 53.9% primarily due to channel and product mix, selective price increases and certain sourcing improvements.
- Operating margin rate grew 30 bps to 18%.
- Inventory declined 2.02% to $178.97M.
- FY2016 Guidance: Net sales: $590M to $600M; Operating income: ~$72M to $75M; Tax rate: 30%; Net income: ~$47.5M to $50; Diluted EPS: $2 to $2.1.
- MOV -0.46% premarket.
Nov. 24, 2015, 6:58 AM
Nov. 23, 2015, 5:30 PM
Nov. 20, 2015, 11:47 AM
- The S&P Retail ETF (NYSEARCA:XRT) is up 1.9% with apparel and footwear stocks doing much of the heavy lifting.
- A vibrant rally in sports stocks was sparked by earnings reports and Nike. Iconix Brand (ICON +2.5%), G-III Apparel (GIII +3%), DSW (DSW +3.7%), Finish Line (FINL +3.1%), Caleres (CAL +2.2%), Genesco (GCO +3.5%), and Shoe Carnival (SCVL +1.7%) join the list reported on earlier.
- Luxury names are on the move with Kate Spade (KATE +2%), Fossil (FOSL +2.9%), Coach (COH +1.4%), and Movado (MOV +2.7%) higher.
- The beat-up mall retailer group is also recovering after results from Gap (GPS +6%) and Abercrombie & Fitch (ANF +19.4%) topped worst-case scenarios. American Eagle Outfitters (AEO +2.3%), Guess (GES +4.6%), and Pacific Sunwear (PSUN +5.4%) are notable gainers.
- Big box retailers are the laggards today. Wal-Mart, Target (TGT +0.6%), and Costco (COST +0.6%) are right at market index averages.
Nov. 16, 2015, 2:59 PM
- Movado (MOV +6.8%) partnered with two Silicon Valley firms to design new smartwatch collections.
- The company created a MotionX-365 solution with Fullpower Technologies and the Bold collection in tandem with HP.
- Both new smartwatch lines will be available before the holiday season ramps up.
- More: Engdaget's review of the Bold Motion smartwatch
Nov. 13, 2015, 1:15 PM
- Movado (NYSE:MOV) is within a dollar of a 52-week low of $21.18 after fellow watchmaker Fossil (down 33.8%) missed Q3 revenue estimates and offered weak Q4 guidance.
- Movado's FQ3 report is expected in the coming weeks. Shares soared three months ago following an FQ2 beat and sales guidance reiteration.
Aug. 27, 2015, 10:32 AM
- Movado (NYSE:MOV) rallies after navigating F/X headwinds in FQ2 to top estimates and maintaining guidance.
- Shares are up 18.7% to $26.50
- Perhaps helping out with the positive vibe on the retailer, the company says it's on target on deliver new products in time for the holiday season including a connected timepiece.
- Previously: Movado beats by $0.08, beats on revenue (Aug. 27 2015)
- Previously: More on Movado's Q2 (Aug. 27 2015)
Aug. 27, 2015, 9:31 AM
- Movado (NYSE:MOV) reports net sales rose 6.1% on a constant currency basis.
- Gross margin rate grew 30 bps to 54.3% due to channel and product mix, selective price increases and certain sourcing improvements.
- Operating margin rate +50 bps to 12.5%.
- Inventory declined 3.5% to $188.52M.
- FY2016 Guidance: Net sales: $590M to $600M; Gross margin rate: ~53.5%; Operating income: ~$72M to $75M; Tax rate: 30%; Net income: ~$48.5M to $51M; Diluted EPS: $2 to $2.1.
- Q2 results
Aug. 27, 2015, 7:04 AM
- Movado (NYSE:MOV): Q2 EPS of $0.50 beats by $0.08.
- Revenue of $145.6M (+1.4% Y/Y) beats by $3.35M.
Aug. 26, 2015, 5:30 PM
Aug. 12, 2015, 10:16 AM
- Luxury retail stocks are off to a poor start again after Fossil (FOSL -2.1%) reported last night and with increased concerns over China.
- Analysts note it's not just sales in China which are at risk of lower F/X conversion rates, but European luxury sales could dip to due to the reliance of heavy buying (high average transaction prices) from Asian tourists.
- Luxury slumpers today include Movado (MOV -2.7%), Coach (COH -4.8%), Kate Spade (KATE -4.1%), Tiffany (TIF -4.3%), Luxottica (LUX -3.6%), Ralph Lauren (RL -2.2%), Michael Kors (KORS -4.1%), and Guess (GES -2.9%).
- Previously: Fossil beats by $0.30, misses on revenue (Aug. 11 2015)
- Previously: Mixed results for Fossil in Q2, shares -4% AH (Aug. 11 2015)
Aug. 11, 2015, 10:00 AM
- The currency devaluation fired off in China is hitting select consumer goods and services stocks.
- China Southern Airlines (ZNH -18.2%) and China Eastern Airlines (CEA -17.4%) are feeling the sharpest impact.
- Macau gaming stocks trade weaker with Melco Crown (MPEL -2.7%), Las Vegas Sands (LVS -2%), Wynn Resorts (WYNN -3.1%), and MGM Resorts (MGM -0.8%) all lower.
- Luxury retailers are also feeling a pinch due to the F/X headache. Decliners include Tiffany (TIF -2.1%), Ralph Lauren (RL -1.3%), Gucci (OTC:PPRUF, OTCPK:PPRUY), Prada (OTCPK:PRDSF), Hermes (OTCPK:HESAF), Fossil (FOSL -1.5%), Michael Kors (KORS -0.6%), Coach (COH -1.7%), Movado (MOV -1.8%), Kering (OTC:PPRUF), Burberry (OTCPK:BURBY), and Swatch (OTCPK:SWGAY -5.4%).
May 27, 2015, 7:21 AM
- Movado (NYSE:MOV) reports sales were up 5.0% to $120.9M in FQ1 on a constant currency basis.
- The company's gross profit rate fell 210 bps to 51.8%.
- Inventory flat Y/Y at $183.90M.
- Guidance: Movado sees FY16 sales of $590M-$600M vs. $593.1M consensus and EPS of $2.00-$2.10 vs. $2.04 consensus.
- Previously: Movado misses by $0.01, beats on revenue
- MOV +1.67% premarket.
Movado Group Inc designs, sources, markets and distributes fine watches. Its brands includes Coach Watches, Concord, Ebel, ESQ Movado, Scuderia Ferrari Watches, HUGO BOSS Watches, Juicy Couture Watches, Lacoste Watches, Movado, and Tommy Hilfiger Watches.
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