×
1 927
Fashion Jobs
FOREO
E-Key Account Manager
Permanent · London
FOREO
Marketing Manager
Permanent · London
VF INTERNATIONAL
Warehouse Trainer And Instructor
Permanent · COALVILLE
OUTSIDE THE BOX RECRUITMENT
Account Manager Kidswear
Permanent · LONDON
THE KOOPLES
Regional Manager London
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Digital Marketing And e Commerce Manager
Permanent · LONDON
ESTÉE LAUDER
Estee Lauder - Consumer Campaign Email Marketing Executive
Permanent · London
VF INTERNATIONAL
Warehouse Area Manager
Permanent · COALVILLE
NEW BALANCE
Marketing Director, Emea
Permanent · Warrington
EASTPAK
Credit Controller - French Speaking - Eastpak
Permanent · CALVERTON
THE NORTH FACE
Credit Controller - German Speaking - The North Face
Permanent · CALVERTON
CONFIDENTIAL
Regional Manager London
Permanent · LONDON
ESTÉE LAUDER
la Mer - Business Manager - John Lewis, Cribbs Causeway - 37.5 Hours - Full Time, Permanent
Permanent · Bristol
VF INTERNATIONAL
dc Inventory Control Supervisor
Permanent · COALVILLE
ESTÉE LAUDER
Clinique - Consultant - Boots, Enniskillen - 10 Hours - Part Time, Permanent
Permanent · Enniskillen
SHISEIDO
Account Manager Bareminerals - House of Fraser, Cheltenham
Permanent · Cheltenham
ESTÉE LAUDER
Clinique - Consultant - Browns, Beverley - 12 Hours - Part-Time, Permanent
Permanent · Beverley
ESTÉE LAUDER
Clinique - Consultant - Boots, Metro Gateshead - 16 Hours - Part Time, Permanent
Permanent · Gateshead
ESTÉE LAUDER
Clinique - Consultant - Boots, Derby - 10 Hours - Part-Time - Permanent
Permanent · Derby
ALTRA
Sales Representative
Permanent · LONDON
MICHAEL KORS
Sales Supervisor (40 Hours) - Milton Keynes
Permanent · MILTON KEYNES
SHISEIDO
Nars Account Manager - John Lewis High Wycombe (37.5 Hours)
Permanent · High Wycombe
Advertisements
Published
Jun 1, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Movado income takes a hit in first quarter

Published
Jun 1, 2019

Paramus, New Jersey-based watch maker Movado Group, Inc. reported significantly reduced earnings of $3.9 million, or $0.17 per diluted share, in Q1 2020 on Thursday, down from $8.1 million, or $0.35 per diluted share in the prior-year period.


Increased expenses took their toll on Movado's bottom line in Q1 2020 - Instagram: @movado

 
The company’s net sales actually rose 15.3% to $146.5 million during the quarter, up from $127.1 million in Q1 2019. On a constant currency basis, sales increased 18.9%.
 
However, this progress was offset by increases in operating expenses, which totaled $73.9 million, compared to $59.4 million in the same period in the previous year. This rise was largely related to an increased marketing spend resulting from the addition of the MVMT brand to the company’s portfolio, as well as expenses incurred in connection with efforts to drive sales growth across the group and with the launch of a new joint venture in Spain.

“We had a strong start to the year, reporting double digit growth in sales and significant expansion in gross margin driven by the strength of our innovation and heightened global demand for our compelling portfolio of brands,” said Movado Chairman and CEO Efraim Grinberg in a release. “During the quarter, we accelerated our growth in e-commerce driven by our Digital Center of Excellence and increased investment in marketing activities to capitalize on the significant growth that lies ahead for our portfolio, including MVMT and Olivia Burton.”
 
In light of its first-quarter results, Movado has maintained its full-year outlook for fiscal 2020, and expects to report net sales in the range of $750.0 million to $765.0 million. Net income is predicted to be between $64.0 million and $66.4 million, or $2.70 to $2.80 per diluted share.

Copyright © 2021 FashionNetwork.com All rights reserved.