View Post

Shareholder Charges Movado Group Mislead on Earnings Forecast Last Year

In Industry News, What's New by Jeff PrineLeave a Comment

Wilmington, DE—A shareholder in Movado Group recently filed a suit against the watch company, charging its earnings estimates were artificially inflated and hurt investors when its share price plunged after disappointing earnings report. The suit, filed in federal court here, by Gregory L. Batty of Belvidere, Illinois, claims the company …

View Post

Movado Narrows 1st Quarter Loss, to Close Retail Division

In Industry News, Reports, What's New by Accessories StaffLeave a Comment

Paramus, NJ—Although Movado Group Inc. (MOV.N) posted a narrower-than-expected quarterly loss on Thursday, it will close its Movado-brand retail boutiques, which would cut watch company’s 2010 revenue by $30 million. The company, which distributes watch brands such as Movado, Concord, Tommy Hilfiger and Hugo Boss, said it was shutting down …