Thu, Aug. 27, 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)
Thu, Aug. 27, 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
Thu, Aug. 27, 7:04 AM
Wed, Aug. 26, 5:30 PM
Wed, Aug. 12, 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)
Tue, Aug. 11, 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%).
Wed, May 27, 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.
Wed, May 27, 7:04 AM
Tue, May 26, 5:30 PM
Wed, May 13, 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.
Wed, May 6, 12:42 PM
- Shares of Movado (MOV -6.7%) slip after peer Fossil issues its Q1 report.
- Though Fossil topped EPS estimates, underlying weakness showed through with the beat being derived from cost-cutting measures.
- Previously: Fossil tops profit expectations in challenging quarter (May 5)
- Previously: Fossil's guidance creates some worry (May 6)
Mon, Apr. 13, 10:47 AM| Mon, Apr. 13, 10:47 AM | 5 Comments
Wed, Apr. 1, 1:57 PM
- Movado (MOV +7.7%) rallies again after yesterday's earnings report and guidance soothes some investors fears over the luxury retailer.
- During the firm's earnings call, execs tipped off that Movado is in close collaboration with several tech companies over the development of smart watches.
- The new products are expected to be taken to the market later this year or early next year.
- Earnings call transcript
Tue, Mar. 31, 12:45 PM
Tue, Mar. 31, 9:13 AM
Tue, Mar. 31, 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.
MOV vs. ETF Alternatives
Movado Group Incdesigns, 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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