secwatch.observer — SEC 8-K summary
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Issuer:     MOVADO GROUP INC (MOV)
CIK:        0000072573
Form:       8-K
Filed at:   2023-03-23T23:59:59+00:00
Accession:  0000950142-23-000769
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Movado Group reports Q4 sales down 5.7% to $194.3M; FY2023 EPS $4.12; special dividend $1.00
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- FY2023 net sales $751.9M (+2.7% YoY); operating income $120.4M (record); cash $251.6M, no debt.
- Q4 net sales $194.3M (-5.7% YoY, -2.8% constant currency); GAAP EPS $1.00, adjusted $1.03.
- Board declared special dividend of $1.00 per share plus regular quarterly $0.35, payable April 19 to record April 5.
- FY2024 guidance: net sales $725-750M; GAAP EPS $2.70-$2.90; operating income $80-85M; excludes $2.1M amortization.
- Q4 gross margin down to 56.2% from 58.7% due to unfavorable mix and FX.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/72573/000095014223000769/0000950142-23-000769-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/72573/000095014223000769/eh230342117_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950142-23-000769

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