The Performance Of The Company Is Higher Than Expected, And Its Share Price Has Risen Sharply.

According to the world clothing shoes and hats net, March 29th: American watches manufacturers and agents Movado Group Inc. (NYSE:MOV) in the four quarter of the results of the victory, the group's stock price surged in the early morning of Thursday to a maximum of 27.3% to 42.25 dollars three years and a half high.

Movado Group Inc. Inc. sales rose by 14.1% to $149 million 200 thousand over the holiday season.

The expected US $132 million 600 thousand, fixed exchange rate rose by 10.25%, and the same store sales of its direct outlets increased by 6.4%.

Due to the one-time expenditure of $45 million in the US tax reform act of December, the Group recorded a net loss of $33 million 910 thousand or a loss of $1.47 per share, compared with a net profit of $5 million 230 thousand or a profit of $0.22 per share for the same period of the previous year.

Adjusted earnings per share amounted to US $0.52, which is two times that of FactSet's consolidated forecast of US $0.26.

Gross margin also increased by 330 basis points to 52.8%.

The chairman and chief executive, Efraim Grinberg, expressed "happy" in the earnings report for the strong ending of fiscal year 2018. He pointed out that no matter Movado Movado, Concord Jun Huang and Ebel Yu Bao, etc.

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The business of Hugo, Boss, Hugo, BOS and Tommy Hilfiger continued to be strong, and the UK, France and Germany accelerated their growth.

Net sales in fiscal year 2018 totaled $568 million, representing an increase of 2.8% over the 2017 fiscal year of 552 million 800 thousand and a fixed exchange rate increase of 2.2%.

Net loss was $152 million 300 thousand, or a loss of $0.66 per share, net profit of $35 million 60 thousand in fiscal 2017, or a profit of $1.51 per share.

The adjusted EPS rose from $1.59 to $2.

Movado Group Inc. Inc.'s outlook for net sales will increase further from 6.5%-8.3% to 6.05-6.15 billion in the current fiscal year 2019, better than the combined forecast of $570 million 900 thousand for FactSet, and earnings per share will be between us $2.15-2.25.

Efraim Grinberg said it will continue to focus on digital and other strategic plans this year, while investing in brand product innovation.

This is also the reason why the 9 brands of Movado Group Inc., the first of its brands, quit this year's Baselworld 2018 Basel international watch and Jewellery Fair.

In response to the shrinking of the Swiss watch industry and the rise of rival SIHH (Geneva international advanced watch and clock show), the current Baselworld has been shortened by two days, exhibitors halved, and the rent has been cut by 10%.

Efraim Grinberg pointed out that with the development of the times, Baselworld has little effect on the group and its customers.

"World change and E - Commerce on the bigger stage have made trade shows a bit of a ribs," he said.

Efraim Grinberg expects that this strategy can reduce the group's annual expenditure by 10 million US dollars, of which 20% of the funds have been used to carry out the summit of Movado Group Inc. and its own summit in Davos, Switzerland, Movado Group Summit, and the remaining 80% will be put into digital channels, such as recruiting talents and opening digital centers.

At the beginning of this month, Movado Group Inc. Inc. started the position of chief digital officer, and hired Behzad Soltani, the former general manager and vice president of the wholesale business Boxed Inc.. In addition, Michelle Barna-Stern has joined the vice president of social media.

As of Wednesday's closing, Movado Group Inc. (NYSE:MOV) has risen 36.6% in the past 12 months, while the Fossil Group Inc. (NASDAQ:FOSL) fossils group has fallen 27.7%.

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