Movado Group Inc is a renowned watchmaker that designs, manufactures, and markets a wide range of timepieces under various brands, including its flagship Movado brand, known for its modern and elegant designs
The company offers a diverse portfolio of luxury, fashion, and accessible watches, catering to different market segments and consumer preferences. In addition to its iconic watches, Movado Group also holds licensing agreements for producing timepieces under notable brands, expanding its product offerings across various styles and price points. With a commitment to craftsmanship and innovation, Movado Group aims to create timeless pieces that resonate with watch enthusiasts and collectors around the world.
Looking back on apparel and accessories stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including Movado (NYSEMOV) and its peers.
Movado’s stock price has taken a beating over the past six months, shedding 20.4% of its value and falling to $20.03 per share. This was partly due to its softer quarterly results and may have investors wondering how to approach the situation.
As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the apparel and accessories industry, including Ralph Lauren (NYSERL) and its peers.
Luxury watch company Movado (NYSEMOV) fell short of the market’s revenue expectations in Q3 CY2024, with sales falling 2.6% year on year to $182.7 million. On the other hand, the company’s outlook for the full year was close to analysts’ estimates with revenue guided to $665 million at the midpoint. Its GAAP profit of $0.22 per share was 31.3% below analysts’ consensus estimates.
Movado Group reports Q4 earnings beat and outpaces revenue expectation. Movado expects FY25 earnings per share of $1.20-$1.30, below the consensus of $2.06. The company expects net sales for the first half of fiscal 2025 to be relatively flat year-over-year.
