Movado Group Maintains FY25 Outlook, But Now Expects At Low End Of Range - Update

Movado Group

17.25 CHF -3.96%

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Kaufen / Verkaufen

(RTTNews) - While reporting financial results for the third quarter on Thursday, luxury watch maker Movado Group, Inc. (MOV) maintained its earnings and net sales guidance range for the full-year 2025, but now expects results at the low-end of the range.

This reflects third-quarter results and the expected continuation of a challenging environment, including the impact of retailers continuing to tightly manage inventories in both the U.S. and Europe.

For fiscal 2025, the company still projects earnings in a range of $0.90 to $1.00 per share on net sales between approximately $665.0 million and $675.0 million, but now expects earnings of $0.90 per share and net sales of approximately $665.0 million.

The Company also announced that the Board of Directors approved the payment on December 30, 2024, of a cash dividend in the amount of $0.35 for each share of the Company's outstanding common stock and class A common stock held by shareholders of record as of the close of business on December 16, 2024.

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