- Movado (NYSE:MOV) reports net sales rose 0.5% on a constant currency basis in Q3.
- Gross margin rate fell 80 bps to 53.5%.
- Adjusted operating margin rate squeezed 530 bps to 11.8%.
- Inventories expanded 9.6% Y/Y to $201.16M.
- FY2020 Guidance: Net sales: $690M to $700M; Operating income: $46M to $50M; Tax rate: 21%; Net income: $36.4M to $39.5M; Diluted EPS: $1.55 to $1.70.
- MOV -12.7% premarket.
- Previously: Movado EPS misses by $0.21, misses on revenue (Nov. 26)
Movado down 13% on disappointing Q3 results and trimmed FY2020 guidance
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About MOV Stock
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Symbol | Last Price | % Chg |
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MOV | - | - |
Movado Group, Inc. |