Movado (MOV) Reports Earnings Tomorrow. What To Expect
Luxury watch company Movado (NYSE:MOV) will be reporting results tomorrow before market hours. Here's what investors should know.
Last quarter Movado reported revenues of $187.7 million, down 11.2% year on year, missing analyst expectations by 3.3%. It was a weak quarter for the company, with a miss of analysts' revenue estimates.
Is Movado buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Movado's revenue to decline 10% year on year to $174.8 million, a further deceleration on the 5.7% year-over-year decrease in revenue the company had recorded in the same quarter last year.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates four times over the last two years.
Looking at Movado's peers in the apparel, accessories and luxury goods segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. ThredUp delivered top-line growth of 14.1% year on year, beating analyst estimates by 1.3% and G-III reported revenue decline of 10.5% year on year, missing analyst estimates by 6.4%. ThredUp traded down 8.5% on the results, G-III was down 2.2%.
Read our full analysis of ThredUp's results here and G-III's results here.
There has been positive sentiment among investors in the apparel, accessories and luxury goods segment, with the stocks up on average 2.2% over the last month. Movado is down 5.2% during the same time, and is heading into the earnings with analyst price target of $41, compared to share price of $26.78.
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