Movado Group Revised FY25 Outlook: Sees Sales Of $665.0M (Vs. $665.0M-$675.0M Prior) Vs. $663.3M Estimate; EPS Of $0.90 (Vs. $0.90-$1.00 Prior) Vs. $0.91 Estimate

The Company is revising its previously provided outlook to reflect third-quarter results and the expected continuation of a challenging environment, including the impact of retailers continuing to tightly manage inventories in both the U.S. and Europe.

For Fiscal Year 2025, the Company currently expects:

• Net sales of approximately $665.0 million, the low end of its previous expectation of a range of approximately $665.0 million to $675.0 million;
• Gross profit of approximately 54% of net sales;
• Operating income near $23.0 million, representing the low end of its previous expectation of $23.0 million to $26.0 million; this revised outlook contemplates approximately $18 million of incremental investments in brand-building initiatives as compared to last year;
• An effective tax rate of approximately 25%; and
• Earnings of $0.90 per diluted share, the low end of its previous expectation of $0.90 to $1.00 per diluted share.