Movado Group’s net sales up 4% in Q2

The company attributes this to its product offerings and good performance at outlet retail stores
Movado Group’s net sales up 4% in Q2

Movado Group’s net sales valued $143.6 million, rising 4 percent (on y-o-y basis) in the second fiscal quarter closing July 31. 2014, reports say. Its operating income rose to $17.2 million, valuing 12 percent of net sales, while last year, operating income in the comparable quarter valued $17 million or 12.3 percent of net sales, reports say. The company noted its performance to be spurred by rise in its brands and that of the licensed brand and retail categories, while also noting good activity at its outlet retail stores. It also noted that retail sell-through still is ahead of shipments and the overall market, reports add.

The company’s outlook for the fiscal 2015, is that it expects to achieve net sales of $640 million, reports say.

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