Movado (MOV) Lags Q1 Earnings and Revenue Estimates

Core Viewpoint - Movado's quarterly earnings significantly missed expectations, indicating potential challenges in the company's performance and outlook [1][2][6] Financial Performance - Movado reported earnings of $0.08 per share, falling short of the Zacks Consensus Estimate of $0.39 per share, and down from $0.13 per share a year ago, representing an earnings surprise of -79.49% [1] - The company posted revenues of $131.77 million for the quarter, missing the Zacks Consensus Estimate by 7.28%, and down from $136.67 million year-over-year [2] - Over the last four quarters, Movado has only surpassed consensus EPS estimates once and has not beaten consensus revenue estimates [2] Stock Performance - Movado shares have declined approximately 11.5% since the beginning of the year, contrasting with the S&P 500's slight gain of 0.1% [3] - The current Zacks Rank for Movado is 3 (Hold), suggesting that the stock is expected to perform in line with the market in the near future [6] Earnings Outlook - The consensus EPS estimate for the upcoming quarter is $0.57 on revenues of $164.35 million, and for the current fiscal year, it is $2.57 on revenues of $678.2 million [7] - The trend of estimate revisions for Movado is mixed, which could change following the recent earnings report [6] Industry Context - The Retail - Jewelry industry, to which Movado belongs, is currently ranked in the top 14% of over 250 Zacks industries, indicating a favorable industry outlook [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Movado's stock performance [5]