Movado beats, raises outlook

Investor's Business Daily

The watchmaker said Q3 EPS rose 3% to 67 cents, topping views by 6 cents. Analysts expected 61 cents. Revenue rose 12% to $160 mil, beating views due to increased sales in the accessible luxury and licensed brand categories. Movado (MOV) upped its '13 EPS outlook to $1.50 from $1.40. Analysts expected $1.47. It is the latest to issue a special dividend on "fiscal cliff" worries. Movado approved a 75-cent-per-share special dividend payable Dec. 21. Shares rose 10.2% to 35.50.

Rates

View Comments (0)