Movado Group Slashes FY25 Outlook - Update

(RTTNews) - While reporting financial results for the second quarter on Thursday, luxury watch maker Movado Group, Inc. (MOV) slashed its earnings and net sales guidance for the full-year 2025.

For fiscal 2025, the company now projects earnings in a range of $0.90 to $1.00 per share on net sales between approximately $665.0 million and $675.0 million.

Previously, the company expected earnings in the range of $1.20 to $1.30 per share on net sales between approximately $700.0 million and $710.0 million.

The company also expects sales for the second half to be flat to slightly positive from last year.

The Company also announced that the Board of Directors approved the payment of a cash dividend in the amount of $0.35 for each share of the Company's outstanding common stock and class A common stock held by shareholders of record as of the close of business on September 16, 2024.

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