Categories AlphaGraphs, Consumer, Earnings
Infographic: Everything you need to know about Movado’s Q1 2024 earnings
Luxury watchmaker, Movado Group, Inc. (NYSE: MOV) on Thursday reported lower adjusted earnings and net sales for the first quarter of 2024. The company also reaffirmed its full-year guidance.
First-quarter net sales declined to $144.9 million from $163.4 million in the prior-year quarter. Both the US and international divisions recorded negative growth.
Weak top-line performance translated into a decline in adjusted earnings to $0.43 per share from $0.82 per share a year earlier. On an unadjusted basis, net income was $9.13 million or $0.40 per share, compared to $18.5 million or $0.79 per share last year.
Efraim Grinberg, chief executive officer of Movado, said, “We are excited about our product innovation pipeline across our owned and licensed brands, and we will continue to invest in support of our teams, regions, and brands with continued focus on Movado’s refreshed marketing message as we build on its strength and heritage.”
Prior Performance
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
CL Earnings: Key quarterly highlights from Colgate-Palmolive’s Q2 2024 financial results
Colgate-Palmolive Company (NYSE: CL) reported its second quarter 2024 earnings results today. Net sales increased 4.9% year-over-year to $5 billion. Organic sales increased 9%. Net income attributable to Colgate-Palmolive Company was $731
Key takeaways from Visa’s Q3 2024 earnings report
Credit card behemoth Visa, Inc. (NYSE: V) this week reported mixed results for the June quarter, with earnings matching expectations and sales slightly missing the view. Both numbers grew in
Southwest Airlines (LUV): A look at the airline’s performance in Q2 2024
Shares of Southwest Airlines Co. (NYSE: LUV) were up over 6% on Thursday after the company beat earnings estimates for the second quarter of 2024. The stock has gained 4%