Movado Q1 sales down 11.3% to $144.9M; EPS $0.40 vs $0.79 YoY

MOVADO GROUP INC

2024-Q1 EPS reported $0.40 revenue$144,905,000

Net sales $144.9M (-11.3%), U.S. down 15.7%, international down 8.1%.
Operating income $10.9M vs $25.3M; adjusted operating income $11.6M.
Diluted EPS $0.40 (adjusted $0.43) vs $0.79 ($0.82) YoY.
Board approved quarterly dividend of $0.35/share, payable June 21 to holders of record June 7.
FY2024 outlook reaffirmed: sales $725-750M, operating income $80-85M, EPS $2.70-2.90.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MOVADO GROUP INC reported first quarter fiscal 2024 ended April 30, 2023 results: revenue $144.9 million, net income $9.1 million, or $0.40 per diluted share, EPS $0.40 per diluted share. Guidance reaffirmed.

Period: first quarter fiscal 2024 ended April 30, 2023
Revenue: $144.9 million
Net income: $9.1 million, or $0.40 per diluted share
EPS: $0.40 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

EXHIBIT 99.1 EXHIBIT 99.1 CONTACT: ICR, Inc. Rachel Schacter/Allison Malkin 203-682-8200 FINAL MOVADO GROUP, INC. ANNOUNCES FIRST QUARTER FISCAL 2024 RESULTS ~ Net Sales of $144.9 million ~ ~ Operating Income of $10.9 million; Adjusted Operating Income of $11.6 million ~ ~ EPS of $0.40 and Adjusted EPS of $0.43 ~ ~ Board Approves Quarterly Dividend of $0.35 Per

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Source: SEC EDGAR

accession 0000950142-23-001534

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