×
51 771
Fashion Jobs
SUNDANCE
Buyer, Market Apparel
Permanent · SALT LAKE CITY
ADIDAS
Senior Manager Buying (Concept Stores)
Permanent · Portland
NEW BALANCE
Loss Prevention Officer (Day Shift)
Permanent · Skowhegan
L'OREAL GROUP
Mgr/sr Manager-Demand Planner
Permanent · Newport Beach
L'OREAL GROUP
Kiehl's Since 1851 - Director of Ecommerce
Permanent · New York
L'OREAL GROUP
Salon Business Partner (Saloncentric) - Troy, mi
Permanent · Troy
ABERCROMBIE AND FITCH CO.
Asset Protection Investigator
Permanent · Concord
OLD NAVY
Asset Protection Lead - Outlts @ Little Rock
Permanent · Little Rock
OLD NAVY
Assistant General Manager, Merchandising - Northcross
Permanent · Huntersville
OLD NAVY
External Asset Protection Lead - Franklin Park
Permanent · Toledo
OLD NAVY
General Manager - Four Flaggs
Permanent · Niles
OLD NAVY
Assistant General Manager, Merchandising - Crossings of Decatur
Permanent · Decatur
OLD NAVY
Assistant General Manager - Festival Mkt@Dogwood
Permanent · Flowood
OLD NAVY
General Manager - Barrow Crossing
Permanent · Bethlehem
OLD NAVY
Asset Protection Service Representative -Sports Arena Plaza
Permanent · San Diego
OLD NAVY
Buyer, Girl's, Outlet
Permanent · San Francisco
OLD NAVY
Asset Protection Agent - Fulton Street
Permanent · New York
OLD NAVY
General Manager - Franklin Park
Permanent · Spokane
OLD NAVY
Assistant General Manager, Merchandising - Brickyard Square (New Store)
Permanent · Epping
OLD NAVY
Assistant General Manager - Eagan Promenade
Permanent · Eagan
OLD NAVY
General Manager - Conyers Crossroads
Permanent · Conyers
OLD NAVY
Asset Protection Manager - Utah
Permanent · Salt Lake City
Published
May 26, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Movado will focus on new products to offset major sales drop

Published
May 26, 2017

Movado Group Inc. saw a major drop in net sales for the first financial quarter of 2018, from $114.1 million in the same quarter last year to $99.3 million. The New Jersey-based watch company says it plans to focus on new products to increase sales in the year ahead.


The New Jersey-based watch company says it plans to focus on new products to increase sales in the year ahead - Movado

 
The net sales of $99.3 million represent a 13 percent drop compared to the same quarter last year. Movado also saw a decrease in operating costs from $55.9 million to $52.8 million, due to a decrease in retail points.
 
Movado’s chairman and CEO Efraim Grinberg attributed the drop in sales to a challenging retail environment in the U.S.

“We recognized this trend early in our planning cycle and mitigated this impact through decisive actions to significantly reduce our planned operating expenses for the year. As we look to the balance of the year, we continue to anticipate a challenging U.S. retail marketplace and expect modest growth in our international markets,” said Grinberg.
 
Grinberg emphasized new product launches and initiatives to improve sales for the coming year including a smart watch using Google technology. In addition to its partnership with Google, Movado also announced an upcoming collection with designer Rebecca Minkoff.

“Our strategy is to focus on designing unique and compelling products across our brands while investing in our digital marketing and e-commerce initiatives to enable us to navigate the evolving retail landscape,” he said.
 
Last month, the company announced it would be reducing its workforce in North America and Switzerland to save on operating costs. Movado also recently saw Ricardo Quintero step down from his role as president at the company. 
 

Copyright © 2021 FashionNetwork.com All rights reserved.