Movado'S First Quarter Results Were Better Than Expected.

Some time ago, a report from the Swiss Union Union said that the total export volume of wrist watches in April was the biggest decline since 2011, to some extent, it also showed some problems, and recently issued a Movado of first quarter financial results, which urgently reduced the annual income forecast.

It is reported that in the first quarter ended April 30, 2016,

The total income recorded a decrease of 5% to US $114 million, compared with us $1.21 in the same period last fiscal year.

In addition, the group's operating profit recorded a drop of 21.7% to $5 million 400 thousand in the first quarter.

At present, the performance of the whole company is attracting much attention, and the future market is hard to predict.

Clock industry ushered in a continuous regression Movado first quarter performance is expected to lower all year round expectations

Although there is a small decrease in the above data, Movado's performance is still moderate compared with market expectations.

And vice chairman and chief operating officer of the group.

After retiring in June, it will generate a cost of $1 million 100 thousand. After adjustment, earnings per share still exceed US $0.16 expected to reach US $0.19.

Because the above amplitude modulation is inferior to

As a result, Movado shares fell slightly to $23.76 on that day.

However, out of the outlook for the future, the group has lowered its forecast for the whole year.

The group lowered its original revenue anticipation from just 585 million to 600 million dollars to 565 million to 580 million dollars, and EPS decreased from 1.85 to 2 dollars to 1.55 to 1.70 dollars.