The department store chain has announced its second watch drop program, unveiling a selection of 17 limited-edition men’s and – for the first time – women’s timepieces from a range of luxury and specialty watch brands.
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%.
The Paramus, New Jersey-based watch company 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.
Movado Group announced on October 1 that it has completed its acquisition of MVMT Watches the parent company of MVMT, providing the group with a global growth opportunity and exposure to millennial customers.
The Paramus, New Jersey-based watch company’s net income rose to $8.1 million in Q1 2019, a leap forward from the loss of $4.2 million reported in the prior year period, pushed by strong sales and expanding margins.
The Paramus, New Jersey-based watchmaker reported its fourth quarter and full fiscal year 2018 results on Thursday, announcing a sales increase of 14.1% in Q4, driven by strong performances in its European subsidiaries.