×
98 785
Fashion Jobs
GAP
Design Director - Women's Concept
Permanent · New York
SALLY BEAUTY CORPORATE
Warehouse Supervisor
Permanent · Justin
MARSHALLS
lp Detective
Permanent · Durham
KOHLS
Full-Time Loss Prevention Officer
Permanent · Elk Grove
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Huntsville
NORDSTROM
Asset Protection - Agent - Winter Park Square Rack
Permanent · Winter Park
NORDSTROM
Asset Protection - Agent - Millennia Crossing Rack
Permanent · Orlando
ULTA BEAUTY, INC.
Retail Operations Manager
Permanent · Daytona Beach
ULTA BEAUTY, INC.
co - Sales Manager
Permanent · Folsom
ULTA BEAUTY, INC.
General Manager
Permanent · Boise
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · Gresham
ROSS STORES
Store Protection Specialist
Permanent · Greenbelt
NORDSTROM
Asset Protection - Agent - Fashion Valley
Permanent · San Diego
NORDSTROM
Asset Protection - Agent - Northern Cal Distribution Center
Permanent · Newark
KOHLS
Senior Product Manager
Permanent · Menomonee Falls
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Greenville
MACY'S
Asset Protection Detective, Tacoma - Full Time
Permanent · Tacoma
MACY'S
Asset Protection Detective, Oxford Valley - Full Time
Permanent · Langhorne
MACY'S
Asset Protection Detective, Fairlane Town Center - Full Time
Permanent · Dearborn
MACY'S
Asset Protection Detective, University Park Mall - Part Time
Permanent · Mishawaka
MACY'S
Asset Protection Detective, Ridgedale - Flex
Permanent · Minnetonka
MACY'S
Buyer
Permanent · New York
Published
Dec 4, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Movado posts another quarter of strong sales and earnings improvements

Published
Dec 4, 2018

Paramus, New Jersey-based watch company Movado Group, Inc. announced on Tuesday that it continued its streak of strong sales and earnings gains in the third quarter, reporting total net income of $26.9 million for the period, compared to $17.4 million in Q3 2017.


Movado completed its acquisition of MVMT in October - Photo: MVMT / Laya Gerlock

 
This progress was driven by rising net sales, which increased 9.6% (10% in constant currencies) to $208.9 million, compared to $190.7 million in the prior-year period.
 
“Our double digit constant dollar topline growth in the quarter was led by strong performance in both the U.S. and international markets,” explained Movado chairman and CEO Efraim Grinberg in a release. “The period saw good progress on our strategic growth priorities. We grew our powerful portfolio of owned and licensed brands as we prepared for the important holiday season ahead.”

The company completed its purchase of watch startup MVMT in October, a strategic acquisition through which Movado is planning to tap into the millennial market. A number of charges incurred due to the conclusion of the deal negatively impacted the group’s quarterly results, along with costs related to Movado’s acquisition of Olivia Burton In July 2017. Excluding these charges, the company's net income for Q3 2018 totaled $27.9 million. 
 
Year to date, Movado reported that sales increased 14.7% (13.1% in constant currencies) to $480.2 million, compared to $418.7 million in the equivalent nine-month period in the previous year.
 
Net income totaled $44.2 million, compared to $18.7 million in the prior-year period.
 
In the light of its results, Movado has reiterated its outlook for fiscal 2019, which predicts net sales of between $660.0 million and $675.0 million. Net income is expected to be in the range of approximately $58.0 million to $59.7 million.

Copyright © 2021 FashionNetwork.com All rights reserved.