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Movado Group, Inc. (MOV)

  • Tue, Mar. 31, 12:45 PM
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  • Tue, Mar. 31, 9:13 AM
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  • 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.
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  • Tue, Mar. 31, 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.
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  • Mon, Mar. 23, 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.
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  • Wed, Feb. 18, 10:29 AM
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  • Thu, Jan. 15, 12:45 PM
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  • Nov. 19, 2014, 10:01 AM
    • Shares of Movado (MOV -3.3%) slump after Barrington Research downgrades the stock to Market Perform from Outperform.
    • The retailer had to reset FY15 sales expectations lower last week due to some struggling brands.
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  • Nov. 14, 2014, 12:46 PM
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  • Nov. 12, 2014, 10:37 AM
    • Select high-end retailers are in rally mode after Fossil (FOSL +7.3%) cruises past Q3 estimates.
    • The strong demand that Fossil saw for higher-priced items bodes well for the sector, say analysts.
    • Advancers: Movado (NYSE:MOV) +1.1%, Michael Kors (NYSE:KORS) +1.6%, Coach (NYSE:COH) +1.6%, Vera Bradley (NASDAQ:VRA) +1.1%.
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  • Aug. 26, 2014, 10:09 AM
    • Movado (MOV -6.6%) slides after missing estimates with its FQ2 report.
    • The company's gross profit rate slipped 10 bps to 54.0% during the period as operating expenses rose faster than sales.
    • Previous guidance was reaffirmed.
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  • Mar. 26, 2014, 10:22 AM
    • Movado (MOV +8.7%) rips some gains after beating profit estimates with its FQ4 report.
    • The luxury retailer boosted its gross margin rate by 40 bps during the period.
    • A boosted dividend and guidance above expectations are also putting investors into a buying mood.
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  • Aug. 27, 2013, 2:55 PM
    • Shares of Movado (MOV +8.2%) "still have room to rise," despite today's sharp post-earnings rally, Barron's says, citing the company's four-year plan to boost sales and profit growth.
    • MOV "has shifted its focus to its more-profitable wholesale business [and] is also improving profitability by offering new products and expanding into China," Johanna Bennett writes.
    • Quoted in the article is Stephens' analyst Rick Patel who calls the company a "standout."
    • Also: Sidoti raises PT to $53 from $49.
    • Earlier this month: Brean starts MOV at Buy.
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  • Aug. 27, 2013, 8:04 AM
    • Movado Group (MOV) puts up a strong Q2, beating on both lines.
    • Operating income rises 59%, more than triple the company's top line growth, thanks to "the disciplined execution of growth strategies [and the] leveraging of  infrastructure."
    • Gross margin fell 160 bps thanks to a shift in the product mix.
    • FY14 outlook: $1.90/ share on revenue of $575-580M versus previous guidance of $1.80/ share on $570-575M in sales and against consensus of $1.82/ share on $570M.  (PR)
    • Shares +5.5% premarket.
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  • Aug. 16, 2013, 11:34 AM
    • Shares of Movado (MOV +1.8%) are higher after Brean starts the stock at Buy with a $44 price target (19x analyst Eric Beder's FY15 EPS estimate).
    • The company is "poised to buck the weakening trend in watches and to register solid double-digit, bottom-line expansion in FY14 and FY15," Beder says, adding that valuation is more attractive than that of Fossil.
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  • May. 29, 2013, 8:41 AM
    More on Movado's (MOV) Q1: Operating income and revenue grow 18% and 6.1% respectively while margins fall 240 basis points as favorable currency impacts weren't enough to offset changes in the product mix. The company reiterates FY14 guidance of $1.80/share on sales of $570-575M (~12% top line growth), largely in line with consensus. Shares +7.56% premarket. (PR)
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Company Description
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.