Movado Group (MOV) Tops Q4 EPS by 12c

Movado Group (NYSE: MOV) reported Q4 EPS of $0.67, $0.12 better than the analyst estimate of $0.55. Revenue for the quarter came in at $199.4 million versus the consensus estimate of $194.18 million.

GUIDANCE:

Movado Group sees FY2020 EPS of $2.70-$2.80, may not compare versus the consensus of $2.90.

• During fiscal 2020, the Company will focus on the continued integration of MVMT into the Company’s systems and distribution, while also making significant brand building investments across its portfolio. The Company’s outlook includes these investments, partially offset by approximately six months of infrastructure and supply chain synergies. As such, for fiscal 2020, the Company anticipates that net sales will be in a range of $750.0 million to $765.0 million and operating income will be in a range of $82.0 million to $85.0 million. The Company anticipates net income in fiscal 2020 to be in a range of $64.0 million to $66.4 million, or $2.70 to $2.80 per diluted share, reflecting a 21% effective tax rate. The outlook excludes approximately $9.0 million of amortization of the acquired intangible assets and other expenses for fiscal 2020 related to the acquisition of MVMT and Olivia Burton. The Company's outlook assumes no significant fluctuations from prevailing foreign currency exchange rates.

For earnings history and earnings-related data on Movado Group (MOV) click here.

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