×
40 025
Fashion Jobs
L'OREAL GROUP
Manager, Manufacturing Supply Chain
Permanent · Jersey City
L'OREAL GROUP
E-Commerce Coordinator
Permanent · Clark
L'OREAL GROUP
Manager/sr. Mgr Ecommerce (la Roche Posay)
Permanent · New York
L'OREAL GROUP
Manager - Key Account, l'Oreal Paris (Heb) (Field Based)
Permanent · San Antonio
L'OREAL GROUP
Email Marketing & CRM Strategy Manager - Kiehl’s
Permanent · New York
L'OREAL GROUP
Director - Education, National Accounts
Permanent · Dallas
L'OREAL GROUP
Dir - Digital Content Producer
Permanent · New York
L'OREAL GROUP
sr Analyst-Finance
Permanent · Berkeley Heights
L'OREAL GROUP
l'Oreal Assistant Vice President, Content Excellence
Permanent · New York
L'OREAL GROUP
Manager, Industrial Quality
Permanent · Clark
L'OREAL GROUP
l'Oreal Avp, CRM & Loyalty
Permanent · New York
L'OREAL GROUP
Regional Sales Director- la Roche Posay/Cerave (Northeast)
Permanent · Boston
L'OREAL GROUP
SEO - Analyst
Permanent · New York
L'OREAL GROUP
Account Executive - Skinceuticals (Portland, Oregon)
Permanent · Portland
L'OREAL GROUP
Finance Manager (Direct Sourcing)
Permanent · Clark
L'OREAL GROUP
Director, Retail Finance (Kiehl's Since 1851 - Free Standing Stores)
Permanent · New York
L'OREAL GROUP
Manager- Commercial Finance
Permanent · Berkeley Heights
L'OREAL GROUP
Sustaining Technical Project Manager
Permanent · San Francisco
L'OREAL GROUP
Manager, Quality Assurance
Permanent · Jersey City
L'OREAL GROUP
Manager - Global Brand Supply Chain
Permanent · Clark
L'OREAL GROUP
Supply Chain Deductions Analyst/sr. Analyst
Permanent · Cranbury Township
L'OREAL GROUP
Manager-Raw Materials Technology Scouting
Permanent · Clark

MVMT sends Movado sales skyrocketing in Q4

Published
today Mar 28, 2019
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Shares in Paramus, New Jersey-based watch company Movado Group, Inc. rose more than 22% on Thursday, as the addition of revenues from the group’s recently acquired MVMT brand helped fourth-quarter sales to soar 33.6% (35.4% in constant currencies).


Movado completed its acquisition of MVMT in October 2018 - Instagram: @mvmt/ aaronhowardmedia

 
Revenue for the fourth quarter ended January 31, 2019 totaled $199.4 million, up from $149.2 million in the prior-year period. Discounting MVMT’s contribution, net sales increased 10.3%.
 
Quarterly net income was $17.4 million, or $0.74 per diluted share, reflecting impressive progress when compared to the net loss of $33.9 million, or $1.47 per diluted share, reported in Q4 2018.

According to CNBC, analysts surveyed by FactSet had expected Movado to post earnings per share of $0.55 on sales of $194 million.
 
The company’s full-year net sales increased 19.7% (18.9% in constant currencies) to $679.6 million, up from $568.0 million in fiscal 2018.
 
Annual net income came to $61.6 million, or $2.61 per diluted share, up from a net loss of $15.2 million, or $0.66 per diluted share, in the previous year.
 
“Fiscal 2019 marked another year of progress on our strategies – to deliver innovation across our portfolio of powerful brands in an omni channel market, capitalize on our strong balance sheet and cash flow to acquire new brands and develop our digital presence,” commented Movado CEO Efraim Grinberg in a release. “These activities fueled topline growth of nearly 20% with strong growth in operating income and net income for the year while we continued to invest for the long term.”
 
Movado currently expects net sales in fiscal 2020 will total between $750.0 million and $765.0 million, while net income is predicted to be in the range of $64.0 million to $66.4 million, or $2.70 to $2.80 per diluted share.
 
Over the course of the upcoming year, the company will be concentrating its efforts on the ongoing integration of MVMT and will also make a series of significant brand building investments across its portfolio.
 
 

Copyright © 2020 FashionNetwork.com All rights reserved.