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Why is Movado Group Inc (MOV) Stock down?
We've noticed a 14.66% decline in Movado Group Inc (MOV) stock during the 2024-09-05 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
30 Nov, 2023:
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.
0.57%
1.72%
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