×
1 105
Fashion Jobs
LEVI'S
Mobile App Trading & Operations Manager
Permanent · London
BLACK PR
Sales Account Manager
Permanent · LONDON BOROUGH OF HACKNEY
ESTÉE LAUDER
Clinique - Consultant - Boots, Inverness - 18 Hours - Part Time, Permanent
Permanent · Inverness
RELY RECRUITMENT
Head of Finance / Finance Manager
Permanent · LONDON
LEVI'S
Performance Marketing Manager
Permanent · London
ESTÉE LAUDER
la Mer - Business Manager - Bentalls, Kingston - 22.5 Hours / 4 Days - Part Time, Permanent
Permanent · Kingston upon Thames
SHISEIDO
Ecommerce Manager - Nars, Shiseido & Drunk Elephant
Permanent · London
VANS
Account Coordinator - Dutch Speaking - Vans
Permanent · NOTTINGHAM
ESTÉE LAUDER
The Estée Lauder Companies - CRM And Loyalty Manager
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - John Lewis, Bluewater - 25.5 Hours - Part Time, Permanent
Permanent · Dartford
ESTÉE LAUDER
Clinique - Consultant - Boots - Metro, Gateshead - 21 Hours - Part Time, Permanent
Permanent · Gateshead
ESTÉE LAUDER
Director, Global Social Marketing
Permanent · London
ESTÉE LAUDER
Tom Ford - Business Manager - John Lewis, Milton Keynes - 37.5 Hours, Days - Full Time, Permanent
Permanent · Milton Keynes
SHISEIDO
Nars Account Manager, Fenwick Bond Street (37.5 Hours)
Permanent · London
LIBERTY LTD
Sales Manager
Permanent · LONDON
LIBERTY LTD
Retail Security Officer
Permanent · LONDON
VF INTERNATIONAL
Inbound Logistics Analyst - 12 Month Ftc
Permanent · COALVILLE
VF INTERNATIONAL
Warehouse Trainer
Permanent · COALVILLE
VF INTERNATIONAL
dc Team Leader
Permanent · COALVILLE
ESTÉE LAUDER
Clinique - Consultant - Boots, White City London - 35 Hours - Full Time, Permanent
Permanent · London
ESTÉE LAUDER
la Mer - Business Manager - Harvey Nichols, Birmingham - 37.5 Hours / 5 Days - Full Time, Permanent
Permanent · Birmingham
ESTÉE LAUDER
Regulatory Scientist - Global Ingredients Compliance
Permanent · Petersfield
By
Reuters
Published
Sep 3, 2009
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Movado second quarter profit plunges 94%

By
Reuters
Published
Sep 3, 2009

Sept 3 (Reuters) - Watch-maker Movado Group Inc (MOV.N) posted a 94 percent slump in quarterly profit as margins fell and it recorded an interest expense charge.

Movado
Movado Master - Photo: www.movado.com

The company, which distributes watch brands like Concord, Tommy Hilfiger and Hugo Boss, posted second-quarter net income of $528,000, or 2 cents a share, compared with $8.1 million, or 32 cents a share, a year ago.

Movado earned 6 cents a share, excluding a $1.3 million pre-tax charge in interest expense related to the refinancing and repayment of former credit and note agreements.

Sales fell 31 percent to $89.7 million. Gross profit was 58.7 percent of sales, compared with 64.1 percent of sales last year.

Two analysts on average were expecting a loss of 24 cents a share, before special items, on revenue of $91.7 million, according to Reuters Estimates.

Movado said it was maintaining its full-year earnings forecast of about 50 cents a share, including the one-time charge recorded in the second quarter. It expects a high single-digit sales decline for the year.

Last month, rival Fossil Inc (FOSL.O) posted second-quarter earnings that topped analyst expectations and raised its full-year earnings view, but said it saw falling revenue in key segments and warned that a stronger dollar will weigh on third-quarter results.

Shares of Paramus, New Jersey-based Movado closed at $11.47 Wednesday 2 September on the New York Stock Exchange. (Reporting by Anne Pallivathuckal in Bangalore; Editing by Himani Sarkar)

© Thomson Reuters 2022 All rights reserved.