Movado Group, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended October 31, 2023
November 30, 2023 at 06:45 am EST
Share
Movado Group, Inc. reported earnings results for the third quarter and nine months ended October 31, 2023. For the third quarter, the company reported sales was USD 187.69 million compared to USD 211.4 million a year ago. Net income was USD 17.39 million compared to USD 29.29 million a year ago. Diluted earnings per share from continuing operations was USD 0.77 compared to USD 1.28 a year ago.
For the nine months, sales was USD 492.98 million compared to USD 557.63 million a year ago. Net income was USD 34.57 million compared to USD 71.8 million a year ago. Diluted earnings per share from continuing operations was USD 1.53 compared to USD 3.12 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.
MOVADO GROUP, INC. 
