Movado Group, Inc. Provides Earnings Guidance for the Year 2023
May 26, 2022 at 06:45 am EDT
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Movado Group, Inc. provided earnings guidance for the year 2023. The Company expects fiscal 2023 net sales to be in a range of approximately $780 million to $800 million and operating income in a range of $125 million to $130 million.
Movado Group, Inc. designs, sources, markets, and distributes watches globally. The Company operates through two segments: Watch and Accessory Brands and Company Stores. The Watch and Accessory Brands segment includes the designing, manufacturing, and distribution of watches and, to a lesser extent, jewelry and other accessories, of owned and licensed brands, in addition to after-sales service activities and shipping. The Company Stores segment includes its retail outlet business. Its portfolio of watch brands consists of owned brands, such as MOVADO, CONCORD, EBEL, OLIVIA BURTON and MVMT as well as licensed brands, such as COACH, TOMMY HILFIGER, HUGO BOSS, LACOSTE, and CALVIN KLEIN. The Company also designs, sources, markets, and distributes jewelry and other accessories under certain of its brands. The Company divides its business into two geographic locations, such as the United States operations, and the International, which includes all other non-United States company operations.