Movado Group, Inc. Reports Earnings Results for the First Quarter Ended April 30, 2024
May 30, 2024 at 06:45 am EDT
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Movado Group, Inc. reported earnings results for the first quarter ended April 30, 2024. For the first quarter, the company reported sales was USD 136.67 million compared to USD 144.91 million a year ago. Net income was USD 2.89 million compared to USD 9.13 million a year ago.
Diluted earnings per share from continuing operations was USD 0.13 compared to USD 0.4 a year ago.
Movado Group, Inc. designs, sources, markets, and distributes watches globally. The Company operates through two segments: Watch and Accessory Brands and Company Stores. The Watch and Accessory Brands segment includes the designing, manufacturing, and distribution of watches and, to a lesser extent, jewelry and other accessories, of owned and licensed brands, in addition to after-sales service activities and shipping. The Company Stores segment includes its retail outlet business. Its portfolio of watch brands consists of owned brands, such as MOVADO, CONCORD, EBEL, OLIVIA BURTON and MVMT as well as licensed brands, such as COACH, TOMMY HILFIGER, HUGO BOSS, LACOSTE, and CALVIN KLEIN. The Company also designs, sources, markets, and distributes jewelry and other accessories under certain of its brands. The Company divides its business into two geographic locations, such as the United States operations, and the International, which includes all other non-United States company operations.
