U.S. stock futures were higher this morning, with the Dow futures gaining around 0.2% on Friday.Shares of Booz Allen Hamilton Holding Corporation BAH fell sharply in today's pre-market trading.Goldman Sachs analyst Noah Poponak downgraded Booz Allen Hamilton from Buy to Neutral and lowered the price target from $150 to $109.Booz Allen Hamilton shares dipped 2.9% to $105.66 in the pre-market trading session.Here are some other stocks moving lower in pre-market trading.Nexa Resources S.A. NEXA shares dipped 3 ...

Accessibility Statement Skip Navigation Jessica and Tracy created and launched Culture Makers in 2023 with the purpose of uniting, celebrating, and honoring the Hispanic and Latin community. "I am thrilled to host another #CultureMakers event this year. Since our first gathering, #CultureMakers continues to grow into what I always hoped it could be" stated Jessica Alba. "This year, we were able to take the festivities to another level by partnering with Movado, but just like last year, our intention remai ...

Exclusive collaboration highlights Adams' vision of the black experience through contemporary cubism and Movado's iconic Museum Dial with limited edition watches, clocks and collectors setPARAMUS, N.J., Jan. 17, 2025 /PRNewswire/ -- Movado Group, Inc. (NYSE: MOV) is proud to announce its new Artist Series collaboration with Derrick Adams, a multidisciplinary artist, and one of the leading black artists of the 21st century. This collaboration celebrates the Black experience, employing vibrant and joyous colo ...

Financial Data and Key Metrics - Net sales for the third quarter decreased by 2.6% to $187.7 million compared to the same period last year [20] - Gross profit margin for the quarter was 53.8%, down from 54.5% in the prior year, primarily due to unfavorable channel and product mix [21] - Operating income decreased to $9.3 million from $20.7 million in the third quarter of fiscal 2024, driven by lower sales and higher operating expenses [22] - Net income for the quarter was $8.3 million, or $0.37 per diluted share, compared to $17.4 million, or $0.77 per diluted share, in the year-ago period [23] - Year-to-date sales for the nine-month period ended October 31, 2024, were $478.7 million, a decrease of 2.9% compared to the same period last year [24] - Gross profit for the nine-month period was $260.3 million, or 54.4% of sales, down from $273.6 million, or 55.5% of sales, in the prior year [25] - Net income for the nine-month period was $14.9 million, or $0.66 per diluted share, compared to $34.6 million, or $1.53 per diluted share, in the year-ago period [26] Business Line Performance - Movado brand sales on the company's website increased by 16.9% in the quarter, with September and October sales growing by over 25% [7] - Licensed brands sales grew by 3.8% in the third quarter, driven by strong performance in Coach, Lacoste, Calvin Klein, and HUGO BOSS [9] - Coach brand performed well, driven by new product introductions, including the Sammy collection, which resonated with Gen Z consumers [9] - Tommy Hilfiger sales were led by the TH 85 Chronograph and the new Henry family of automatic watches [10] - HUGO BOSS returned to growth in the quarter, with strong sales of the Time Traveler collection and the new Bossmatic family [11] - Lacoste saw strong sales growth, particularly in its jewelry collection, with the Metropole Bracelet continuing to grow at a double-digit rate [12] - Calvin Klein brand grew overall, driven by strong sales in jewelry and the introduction of the new Pulse family for women's watches [13] Regional Performance - US net sales decreased by 7.1% in the third quarter, while international markets grew by 0.4%, with growth in Latin America, the Middle East, India, and Australia offsetting declines in Europe [14] - Movado brand performed well in India, with a 20% increase in sales, positioning it as a significant growth market [8] - Europe, the company's largest international market, continued to soften, contributing to a 1.1% decline in international sales on a constant currency basis [20] Strategic Initiatives and Industry Competition - The company has focused on introducing new product families and revitalizing marketing efforts across its brand portfolio [6] - Investments in marketing have been made to drive revenue growth and brand awareness, despite a 2.9% decline in net sales year-to-date [6] - The company is prioritizing cost reduction, brand-building initiatives, and rationalizing marketing investments to improve profitability [6] - Movado is targeting growth opportunities in jewelry and emerging markets like India and Southeast Asia, while aiming to return North America and the Movado brand to higher profitability [6] - The company has a strong balance sheet with $182 million in cash and no debt, and has announced a new $50 million share repurchase plan [6] Management Commentary on Operating Environment and Future Outlook - The retail environment in the US and Europe remains challenging, with retailers tightly managing inventories [7] - The company expects a strong holiday season, supported by the launch of its Amazon Premiere platform and a new marketing campaign [8] - Management is optimistic about the long-term potential of the Movado brand in India and other growth markets [8] - The company is focused on reducing operating costs and improving profitability, with $6.5 million in annualized savings expected from recent cost-saving initiatives [30] - For fiscal 2025, the company expects net sales of approximately $665 million, gross profit of 54% of sales, and operating income of $23 million [29] Other Important Information - The company repurchased approximately 120,000 shares under its share repurchase program in the first nine months of fiscal 2025 [27] - A new three-year $50 million share buyback program has been approved by the Board of Directors [28] Q&A Session Summary Question: New stock buyback authorization usage - The company plans to use the new buyback authorization primarily to offset dilution, with potential changes depending on cash generation [33][34] Question: Retail inventory levels and leading indicators - Retail inventory levels in the US and Europe are historically low, and the company expects a rebound as economic conditions improve [37][38] - E-commerce businesses typically carry less inventory than in-store businesses, but they represent no more than 20-25% of a retailer's overall business [39]

Financial Performance - Net sales for the three months ended October 31, 2024 were $182.7 million, representing a $5.0 million or 2.6% decrease from the prior year period[117]. - The Watch and Accessory Brands segment net sales were $161.9 million, down $3.3 million or 2.0% compared to the prior year period, primarily due to unfavorable sales mix and decreased volumes[118]. - In the United States, net sales for the Watch and Accessory Brands segment were $51.6 million, a decrease of $3.7 million or 6.7%, with owned brands category sales down $5.4 million or 13.1%[120]. - International net sales for the Watch and Accessory Brands segment were $110.3 million, an increase of $0.4 million or 0.4%, positively impacted by foreign currency exchange rates[121]. - Net sales for the nine months ended October 31, 2024 were $478.7 million, a decrease of $14.3 million or 2.9% from the prior year[136]. - Net sales in the Watch and Accessory Brands segment for the nine months ended October 31, 2024 were $415.2 million, down $9.6 million or 2.3% from the prior year[137]. - The U.S. locations of the Watch and Accessory Brands segment experienced net sales of $137.2 million for the nine months ended October 31, 2024, a decrease of $4.7 million or 3.3%[138]. Profitability - Gross profit for the three months ended October 31, 2024 was $98.4 million, or 53.8% of net sales, compared to $102.3 million or 54.5% in the prior year[123]. - Operating income in the Watch and Accessory Brands segment for the three months ended October 31, 2024 was $5.3 million, down $13.2 million from $18.5 million in the prior year period[125]. - Net income attributable to Movado Group, Inc. for the three months ended October 31, 2024 was $5.1 million, down from $17.4 million in the prior year[133]. - For the nine months ended October 31, 2024, the Company recorded operating income of $7.5 million in the Watch and Accessory Brands segment, a decrease from $31.9 million in the same period of 2023[145]. - The Company Stores segment recorded operating income of $5.4 million for the nine months ended October 31, 2024, a decrease from $9.3 million in the same period of 2023[149]. - Net income attributable to Movado Group, Inc. was $11.7 million for the nine months ended October 31, 2024, down from $34.6 million in 2023[153]. Expenses - SG&A expenses for the three months ended October 31, 2024 were $91.8 million, an increase of $10.2 million or 12.5% from the prior year period[124]. - SG&A expenses for the nine months ended October 31, 2024 were $247.4 million, an increase of $15.0 million or 6.5% from the prior year[144]. Cash Flow and Capital Management - The Company had cash and cash equivalents of $181.5 million as of October 31, 2024, compared to $201.0 million in the prior year[154]. - Working capital decreased to $398.4 million as of October 31, 2024, from $412.1 million in 2023[155]. - Cash used in operating activities was $40.6 million for the nine months ended October 31, 2024, compared to cash provided of $7.4 million in the same period of 2023[157]. - Cash used in investing activities increased to $11.9 million for the nine months ended October 31, 2024, from $8.8 million in 2023[158]. - The Company declared and paid cash dividends totaling $23.3 million for the nine months ended October 31, 2024, compared to $45.4 million in the same period of 2023[168]. - The Company has authorized a total of $100.0 million for share repurchase programs, with $15.2 million remaining under the November 23, 2021 program and the full $50.0 million available under the December 5, 2024 program[169]. - During the nine months ended October 31, 2024, the Company repurchased 120,000 shares at an average cost of $21.90 per share, totaling $2.6 million, compared to 85,722 shares at an average cost of $27.40 per share, totaling $2.3 million in the same period of 2023[169]. Risk Management - The Company employs a hedging program to manage foreign currency exchange risks, particularly with Swiss Francs, Euros, and British Pounds[172]. - The Company uses forward exchange contracts to offset exposure to foreign currency receivables and liabilities, with changes in fair value recognized in earnings[174]. - The Company has a comprehensive risk management strategy that includes hedging against currency fluctuations and commodity price changes[172]. - As of October 31, 2024, the Company's net forward contracts hedging portfolio included 30.0 million Swiss Francs and 33.0 million Euros, with various expiry dates through April 10, 2025[175]. - The Company reported a potential gain of $0.1 million if Swiss Franc forward contracts were settled as of October 31, 2024, and a $0.2 million gain for Euro forward contracts[175]. - The Company did not hold any futures contracts in its gold hedge portfolio as of October 31, 2024, meaning fluctuations in gold prices will directly affect the cost of sales[176]. - The Company had zero floating rate debt as of October 31, 2024, and 2023, with no weighted average borrowings during the nine months ended October 31, 2024[177]. - The Company has no off-balance sheet financing or unconsolidated special-purpose entities, indicating a straightforward financial structure[170].

EXHIBIT 99.1 CONTACT: ICR, Inc. Allison Malkin 203-682-8225 MOVADO GROUP, INC. ANNOUNCES THIRD QUARTER RESULTS ~ Net Sales of $182.7 million ~ ~ Operating Income of $6.6 million and Adjusted Operating Income of $9.3 million ~ ~ EPS of $0.22 and Adjusted EPS of $0.37 ~ ~ Updates Fiscal Year 2025 Outlook ~ ~ Board Approves New Share Repurchase Program and Declares Quarterly Dividend of $0.35 Per Share ~ Paramus, NJ – December 5, 2024 -- Movado Group, Inc. (NYSE: MOV) today announced third quarter and nine-mon ...

Group 1 - Amentum Holdings Inc. will be added to the S&P 500 effective prior to the open of trading on September 30, 2024, replacing Bath & Body Works, Inc. [1][2] - Bath & Body Works will move to the S&P SmallCap 600 effective prior to the open of trading on October 1, 2024, replacing Movado Group, Inc. [1][2] - Jacob's Solutions Inc. is spinning off its Critical Mission Solutions and Cyber Intelligence business, which will merge with private Amentum to create the newly publicly traded Amentum Holdings [1] Group 2 - The changes in the S&P indices reflect that Bath & Body Works is no longer representative of the large-cap market space, while Movado is no longer representative of the small-cap market space [1]

anamejia18/iStock via Getty Images Movado Group, Inc. (NYSE:MOV) (OTCPK:MOVAA) reported the company's Q2 results on the 5th of September, sending the stock down -15% - the company's extensive marketing efforts and spending haven't started paying off as wanted yet, and Movado had to lower its FY2025 outlook as a result. In my previous, June 19th article on the stock, "Movado: Brand Weakness Is More Than Temporary", I initiated the stock at a Sell rating due to Movado's clearly underperforming watch brands an ...

Eroding financials and lowered guidance didn't make for a beneficial combination. Many of Movado Group's (MOV -14.66%) goods are quite attractive, but the company's stock wasn't looking too pretty on Thursday. On the back of dispiriting quarterly results, investors peeled away from the stock, leaving it nearly 15% down in price at market close. The benchmark S&P 500 index did much better by comparison, "only" shedding 0.3% during the session. Revenue and profitability declines Movado's second quarter of fis ...

Movado Group, Inc. (NYSE:MOV) Q2 2025 Earnings Conference Call September 5, 2024 9:00 AM ET Company Participants Allison Malkin – Investor Relations-ICR, Inc. Efraim Grinberg – Chief Executive Officer Sallie DeMarsilis – Executive Vice President, Chief Operating Officer and Chief Financial Officer Conference Call Participants Michael Legg – The Benchmark Company Operator Good day everyone, and welcome to Movado Group, Incorporated Second Quarter Fiscal Year 2025 Earnings Conference Call. As a reminder, toda ...