Movado Group Q2 Net Profit Declines; Trims FY23 Net Sales Outlook

RTTNews | hace 710
Stocktwits
Movado Group Q2 Net Profit Declines; Trims FY23 Net Sales Outlook

(RTTNews) - Luxury watch maker Movado Group, Inc. (MOV) reported Thursday that net income attributable to Movado for the second quarter declined to $8.05 billion or $0.36 per share from $24.0 million or $1.05 per share in the prior-year quarter.

Excluding items, earnings for the quarter were $0.38 per share, compared to $1.07 per share in the year-ago quarter.

Net sales for the quarter decreased 12.3 percent to $160.39 million from $182.80 million in the same quarter last year. It declined 13.8 percent on a constant dollar basis.

Looking ahead to fiscal 2024, the Company currently expects net sales to be between $690 million to $700 million, down from its previous outlook range of $725 million to $750 million to reflect the continued expected impact of the challenging consumer discretionary environment on the business.

The Company also announced that the Board of Directors approved the payment on September 21, 2023 of a cash dividend in the amount of $0.35 for each share of the Company's outstanding common stock and class A common stock held by shareholders of record as of the close of business on September 7, 2022.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

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Movado Group Q2 Net Profit Rises; Trims FY23 Net Sales Outlook

Movado Group Q2 Net Profit Rises; Trims FY23 Net Sales Outlook

Luxury watch maker Movado Group, Inc. (MOV) reported Thursday that net income attributable to Movado for the second quarter grew to $24.0 million or $1.05 per share from $19.41 million or $0.82 per share in the prior-year quarter.
RTTNews | hace 1074
European Economic News Preview: Eurozone Sentix Investor Confidence Due

European Economic News Preview: Eurozone Sentix Investor Confidence Due

Investor confidence from the euro area and unemployment from Spain are the top economic news due on Monday. At 2.30 am ET, the Federal Statistical Office publishes Swiss inflation data for July. Economists forecast consumer prices to rise 0.1 percent year-on-year, the same rate of increase as seen in June.
RTTNews | hace 4 minutos
European Shares Seen Tad Higher At Open

European Shares Seen Tad Higher At Open

European stocks may open on a positive note Monday as investors keep an eye on the latest batch of earnings and watch further developments on the tariff front.
RTTNews | hace 21 minutos
Australian Market Extends Early Losses In Mid-market

Australian Market Extends Early Losses In Mid-market

The Australian stock market is extending its early losses in choppy mid-market trading on Monday, also adding to the losses in the previous two sessions, following the broadly negative cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is falling below the 8,650.00 level, with weakness in energy, financial and technology stocks partially offset by strong gains in mining stocks.
RTTNews | hace 2h 19min
Asian Markets Trade Mixed

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Monday, following the negative cues from Wall Street on Friday, amid concerns about the economic impact of US President Donald Trump's unilateral "reciprocal tariffs" and aggressive trade stance on the global economy. However, the weaker than expected US monthly jobs data increased optimism about a potential interest rate cut by the US Fed in September.
RTTNews | hace 3h 0min
Thai Stock Market Expected To Open In The Red Again On Monday

Thai Stock Market Expected To Open In The Red Again On Monday

The Thai stock market has moved lower in consecutive trading days, falling more than 25 points or 2 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,220-point plateau and it's likely in for a rough ride again on Monday.
RTTNews | hace 4h 2min
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