Movado expects higher spending on marketing will weigh on profits [Seeking Alpha]
Movado Group Inc. (MOV)
Last movado group inc. earnings: 3/26 06:45 am
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movadogroup.com/investor/index.cfm
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Source: Seeking Alpha
“We are confident that this is the right time to invest behind the momentum in our portfolio of brands and utilize our strong balance sheet to gain market share,” CEO Efraim Grinberg said. The Paramus, NJ-based company is targeting $25M in increased marketing spending in an effort to drive "long-term, top-line growth." For 2025, Movado expects a profit of $1.20 to $1.30 per share on $700M to $710M in sales. This compares to estimates of $2.06 per share on $689.9M in sales, and is down from 2024 results of $2.13 in adjusted earnings on $672.6M in sales. The increase in spending on marketing is expected to be reflected in revenue in the second half of 2025. For the most recent quarter , Movado earned a profit of $0.55 per share on a 7.5% drop in sales to $179.6M versus estimates of $0.39 and $174.8M, respectively. The company earned a profit of $1.03 in Q4 2023. Gross profit margin was 53.9% compared to 56.2% in the prior year's quarter. The company ended the year with cash
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News
- Movado Group, Inc. (NYSE:MOV) is a favorite amongst institutional investors who own 70% [Yahoo! Finance]Yahoo! Finance
- Don't Race Out To Buy Movado Group, Inc. (NYSE:MOV) Just Because It's Going Ex-Dividend [Yahoo! Finance]Yahoo! Finance
- Movado Group Announces Appointment of Debbie Forman-Pavan as President of North America Sales [Yahoo! Finance]Yahoo! Finance
- Movado Group Announces Appointment of Debbie Forman-Pavan as President of North America SalesBusiness Wire
- Movado Group, Inc. Just Beat EPS By 9.9%: Here's What Analysts Think Will Happen Next [Yahoo! Finance]Yahoo! Finance
MOV
Earnings
- 8/24/23 - Beat
MOV
Sec Filings
- 4/23/24 - Form 4
- 4/3/24 - Form 4
- 4/3/24 - Form 4
- MOV's page on the SEC website