Movado Group Inc (MOV)

Movado Group, Inc. Stock (MOV) dropped by 9.77% from $28.98 to $26.15 in the trading on Thursday November 30, 2023. The reason why MOV stock down today is due to its third-quarter of 2023 results. Movado Group, Inc., a leading luxury watchmaker, reported a sharp fall in net sales and earnings for the third quarter of 2024.

• Third-quarter net sales declined to $187.7 million from $211.4 million in the prior year quarter due to the challenging retail environment in its largest market. Both the US and international sales declined during the period.
• Adjusted earnings declined to $0.78 per share from $1.31 per share a year earlier. On an unadjusted basis, net income was $17.4 million or $0.77 per share, compared to $29.3 million or $1.28 per share last year.