×
523
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

Movado Group sees sales jump 28%, raises outlook

Published
today Jun 2, 2018
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Paramus, New Jersey-based watch company Movado Group, Inc.’s net income rose to $8.1 million in Q1 2019, a leap forward from the loss of $4.2 million reported in the prior year period, pushed by strong sales and expanding margins.


Movado Group's sales rose 28.1% in Q1 - Instagram: @movado

 
The company’s net sales for the first quarter ended April 30, 2018 increased 28.1% (or 22.2% in constant currencies) to $127.1 million, compared to $99.3 million in Q1 2018. This net sales growth included $2.2 million related to Movado’s adoption of new revenue recognition standard ASC 606, which led to a shift in timing between quarters.
 
Operating income for the period came to $8.1 million, compared to a loss of $3.6 million in Q1 2018.

“Our first quarter results reflect the team’s consistent ability to bring innovation to market that resonates with consumers around the world, which was further enhanced by the execution of our strategic growth priorities,” said Movado Chairman and CEO Efraim Grinberg in a release. “We saw sales strength across regions and channels, generating strong results in our international markets as well as our outlet stores and e-commerce business.”
 
The company acquired women’s watch brand Olivia Burton in July 2017 and also Grinberg indicated that the recent acquisition made a positive contribution to Q1’s results, along with the rest of the group’s portfolio, which includes Movado, and licenses for labels such as Coach, Tommy Hilfiger and Hugo Boss.
 
Following its strong performance in the first quarter, Movado Group has raised its outlook for fiscal 2019 and now expects net sales to total between $615.0 million and $625.0 million, while net income is anticipated to be in the range of $54.9 million to $56.4 million.

Copyright © 2020 FashionNetwork.com All rights reserved.