secwatch.observer — SEC 8-K summary
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Issuer:     MOVADO GROUP INC (MOV)
CIK:        0000072573
Form:       8-K
Filed at:   2024-09-05T23:59:59+00:00
Accession:  0000950142-24-002330
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Movado Group cuts FY2025 outlook; Q2 EPS falls to $0.16 from $0.36
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- Q2 net sales $159.3M (-0.7% YoY); operating income $3.0M vs $9.6M; EPS $0.16 vs $0.36.
- FY2025 guidance lowered: net sales $665-675M (prior $700-710M), EPS $0.90-$1.00 (prior $1.20-$1.30).
- Board declares $0.35 quarterly dividend, payable Sept 30, record Sept 16.
- Movado brand sales +1.4% driven by 21% DTC growth offsetting 5.5% wholesale decline.
- Cash $198.3M, no debt; share repurchase program has $16.8M remaining.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/72573/000095014224002330/0000950142-24-002330-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/72573/000095014224002330/eh240521709_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950142-24-002330

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