Watch Company Movado Aims For H2 Comeback Amid Q1 Revenue Dip: Details
Portfolio Pulse from Nabaparna Bhattacharya
Movado Group Inc. (NYSE:MOV) reported a mixed Q1 with earnings per share beating expectations but revenues missing estimates. The company plans to ramp up marketing investments in H2 to drive sales growth. Despite a dip in net sales and gross margin, Movado maintains a positive outlook for fiscal 2025.
May 30, 2024 | 4:08 pm
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Movado Group Inc. reported Q1 earnings per share of 13 cents, beating expectations, but revenues of $136.669 million missed estimates. The company plans to increase marketing investments in H2 to drive sales growth. Despite a dip in net sales and gross margin, Movado maintains a positive outlook for fiscal 2025.
The mixed Q1 results with EPS beating but revenues missing estimates have led to a slight decline in stock price. However, the company's plan to ramp up marketing investments in H2 and a positive outlook for fiscal 2025 may stabilize the stock in the short term.
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