×
516
Fashion Jobs
FOUR SEASONS RECRUITMENT
Ecommerce Manager
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Sales Supervisor
Permanent · LONDON
TOO FACED
Too Faced Business Manager, Boots - Oxford
Permanent · OXFORD
TOO FACED
Too Faced Business Manager - Boots, Leeds Trinity
Permanent · LEEDS
FOUR SEASONS RECRUITMENT
Merchandising Manager
Permanent · LONDON
360 RESOURCING
Account Manager
Permanent · LONDON
BIMBA Y LOLA
Sales Assistant Brompton Road
Permanent · LONDON
BIMBA Y LOLA
Part Time Sales Assistant Brompton Road
Permanent · LONDON
BIMBA Y LOLA
Sales Assistant Richmond
Permanent · LONDON
HAYS RETAIL
Retail Operations Manager
Permanent · LONDON
NEXT RETAIL LTD
Home Design Consultant
Permanent · CAMBERLEY
NEXT RETAIL LTD
Warehouse Administrator
Permanent · DONCASTER
HAYS RECRUIMENT
E-Commerce Manager
Permanent · LONDON
HAYS RECRUIMENT
Eyewear Account Manager South London
Permanent · LONDON
NEXT RETAIL LTD
Home Design Consultant
Permanent · CARDIFF
NEXT RETAIL LTD
Sales Coordinator - Permanent
Permanent · LONDON
360 RESOURCING
Head Office Recruitment Consultant - Fashion Retail
Permanent · LONDON
360 RESOURCING
Temps Controller / Temps Recruitment Consultant - Fashion Retail
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Production Manager-Shoes & Slg-Luxury- London Salary up to £70k
Permanent · LONDON
DEPLOY LONDON
International Sales & Marketing Manager
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Digital Marketing Manager
Permanent · LONDON
TOO FACED
Too Faced Business Manager - Boots Brentwood, UK
Permanent · BRENTWOOD

MVMT sends Movado sales skyrocketing in Q4

Published
today Mar 28, 2019
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Shares in Paramus, New Jersey-based watch company Movado Group, Inc. rose more than 22% on Thursday, as the addition of revenues from the group’s recently acquired MVMT brand helped fourth-quarter sales to soar 33.6% (35.4% in constant currencies).


Movado completed its acquisition of MVMT in October 2018 - Instagram: @mvmt/ aaronhowardmedia

 
Revenue for the fourth quarter ended January 31, 2019 totaled $199.4 million, up from $149.2 million in the prior-year period. Discounting MVMT’s contribution, net sales increased 10.3%.
 
Quarterly net income was $17.4 million, or $0.74 per diluted share, reflecting impressive progress when compared to the net loss of $33.9 million, or $1.47 per diluted share, reported in Q4 2018.

According to CNBC, analysts surveyed by FactSet had expected Movado to post earnings per share of $0.55 on sales of $194 million.
 
The company’s full-year net sales increased 19.7% (18.9% in constant currencies) to $679.6 million, up from $568.0 million in fiscal 2018.
 
Annual net income came to $61.6 million, or $2.61 per diluted share, up from a net loss of $15.2 million, or $0.66 per diluted share, in the previous year.
 
“Fiscal 2019 marked another year of progress on our strategies – to deliver innovation across our portfolio of powerful brands in an omni channel market, capitalize on our strong balance sheet and cash flow to acquire new brands and develop our digital presence,” commented Movado CEO Efraim Grinberg in a release. “These activities fueled topline growth of nearly 20% with strong growth in operating income and net income for the year while we continued to invest for the long term.”
 
Movado currently expects net sales in fiscal 2020 will total between $750.0 million and $765.0 million, while net income is predicted to be in the range of $64.0 million to $66.4 million, or $2.70 to $2.80 per diluted share.
 
Over the course of the upcoming year, the company will be concentrating its efforts on the ongoing integration of MVMT and will also make a series of significant brand building investments across its portfolio.
 
 

Copyright © 2020 FashionNetwork.com All rights reserved.