secwatch.observer — SEC 8-K summary
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Issuer:     MOVADO GROUP INC (MOV)
CIK:        0000072573
Form:       8-K
Filed at:   2024-12-05T23:59:59+00:00
Accession:  0000950142-24-002890
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Movado Group Q3 revenue drops 2.6% to $182.7M; EPS $0.22 ($0.37 adj); cuts FY2025 guidance to low end
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- Net sales $182.7M, -2.6% YoY; U.S. -7.1%, international +0.4% on tighter retail inventory management.
- GAAP operating income $6.6M vs $20.7M prior year; adjusted operating income $9.3M.
- Cash $181.5M, no debt; board approves new $50M share repurchase program and $0.35 quarterly dividend.
- FY2025 outlook lowered to net sales ~$665M, operating income ~$23M, EPS $0.90 (low end of prior range).
- Cost-savings initiative to generate ~$6.5M annualized savings; includes headcount reduction.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/72573/000095014224002890/0000950142-24-002890-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/72573/000095014224002890/eh240564665_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950142-24-002890

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