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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)
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. 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. 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. 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.
May 13, 2015, 10:15 AM
- Weak guidance issued from Ralph Lauren (RL -2.2%) is having a ripple effect on some high-end retail stocks.
- Issues with merchandising, F/X pressure, and lower demand from international tourism pestered Ralph Lauren in Q1 and could continue to be a theme looking forward.
- Previously: Polo Ralph Lauren beats by $0.09, beats on revenue (May. 13 2015)
- Previously: More on Ralph Lauren's FQ4 (May. 13 2015)
- Michael Kors (KORS -1.3%), Coach (COH -0.4%), Movado (MOV -0.5%), Fossil (FOSL -1.7%), and Vera Bradley (VRA -0.3%) are all lower than market averages.
Mar. 31, 2015, 12:45 PM
Mar. 31, 2015, 9:13 AM
Mar. 31, 2015, 8:56 AM
- Movado (NYSE:MOV) soars in premarket trading after setting guidance above expectations and avoiding the worst-case F/X forecast.
- The watch category saw slow growth in the quarter as expected, but Movado says its design innovation helped the sell-through rate.
- A dividend payout boost and health amount of buyback activity in Q4 are also in the mix.
- The company's outlook for FY16 EPS of $2.00-$2.10 is out ahead of the $1.89 EPS analysts forecast.
- Previously: Movado beats by $0.20, misses on revenue (Mar. 31 2015)
- Previously: More on Movado's Q4 (Mar. 31 2015)
- MOV +8.1% premarket.
Mar. 31, 2015, 7:32 AM
- Movado (NYSE:MOV) reports revenue dropped 1.5% on a constant dollar basis.
- Gross margin rate declined 270 bps to 50.3%.
- FY2016 Guidance: Net sales: $590M to $600M; Gross margin rate: ~53.5%; Operating income: ~$72M to $75M; Tax rate: ~30.0%; Net income: ~$48.5M to $51.0M; Diluted EPS: $2.00 to $2.10.
- MOV +5.93% premarket.
- Q4 results
Mar. 23, 2015, 11:17 AM
- Shares of Movado (MOV +4.6%) spike on strong volume to climb back over $25.
- New products showcased over the last few days at Baselworld have drawn some positive reviews.
- The company has lost some traction in the wholesale segment over the last couple of quarters.
- MOV -41.5% over the last 52 weeks.
Feb. 18, 2015, 10:29 AM
- Movado (NYSE:MOV) slides in what could be a reaction to a meltdown at Fossil.
- Shares of the watch seller are off 3.45% on above-average volume.
- Movado trades at 50% of its level from 10 months ago with the developments of the Swiss franc an overriding influence.
- Previously: Fossil -13.6% as promotions whack bottom line (Feb. 17 2015)
- Previously: Fossil still bleeding after earnings call and Jefferies defense
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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