Movado reports Q4 adjusted EPS 55c vs.$1.03 last year

Reports Q4 revenue $179.6M vs. $194.3M last year. CEO Efraim Grinberg stated, “We ended the year with revenue and diluted earnings per share at the high end and above our revised outlook, respectively…Early in Q4, we successfully tested marketing programs that will be continued and expanded upon in FY25 as their effectiveness is demonstrated…As we begin FY25, we are focused on making the investments necessary to grow our business and build our brands for the long-term. As such, we will strategically increase our marketing investments, particularly in the U.S. behind our Movado brand and in our biggest markets in Europe to drive growth in our licensed brands with our retail partners. Although these investments are expected to constrain earnings in the short term, we are confident that this is the right time to invest behind the momentum in our portfolio of brands and utilize our strong balance sheet to gain market share and position Movado Group for sustained long-term growth in sales and profitability.”