Movado Group Q3 net sales down 11.2% to $187.7M; cuts FY2024 EPS outlook to $1.85-$2.00

MOVADO GROUP INC

2024-Q3 EPS reported $1.53 revenue$492,981,000

Net sales fell 11.2% to $187.7M; operating income dropped to $20.7M from $38.3M.
GAAP EPS $0.77; adjusted EPS $0.78; prior year $1.31. Gross margin 54.5% vs 57.3%.
FY2024 sales guidance cut to $665-$675M; operating income now $51-$55M (prior $62.5-$65M).
Board declares $0.35 quarterly dividend payable Dec 26, 2023; record Dec 12.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

MOVADO GROUP INC reported third quarter for the period ended October 31, 2023 results: revenue $187.7 million, net income $17.4 million, EPS $0.77 per diluted share. Guidance reaffirmed.

Period: third quarter for the period ended October 31, 2023
Revenue: $187.7 million
Net income: $17.4 million
EPS: $0.77 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 THIRD QUARTER RESULTS ~ Net Sales of $187.7 million ~ ~ Operating Income of $20.7 million; Adjusted Operating Income of $21.1 million ~ ~ EPS of $0.77 and Adjusted EPS of $0.78 ~ ~ Company Updates Fiscal 2024 Outlook ~ ~ Board

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Source: SEC EDGAR

accession 0000950142-23-002861

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