Luxury watch company Movado (NYSE:MOV) will be reporting results tomorrow before market hours. Here’s what you need to know.
Movado beat analysts’ revenue expectations by 5.9% last quarter, reporting revenues of $159.3 million, flat year on year. It was a softer quarter for the company, with full-year revenue guidance missing analysts’ expectations.
Is Movado a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Movado’s revenue to be flat year on year at $187.7 million, improving from the 11.2% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Movado has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Movado’s peers in the apparel and accessories segment, some have already reported their Q3 results, giving us a hint as to what we can expect. VF Corp’s revenues decreased 5.6% year on year, beating analysts’ expectations by 1.6%, and Hanesbrands reported a revenue decline of 2.5%, in line with consensus estimates. VF Corp traded up 27% following the results while Hanesbrands was also up 12.5%.
Read our full analysis of VF Corp’s results here and Hanesbrands’s results here.
There has been positive sentiment among investors in the apparel and accessories segment, with share prices up 8.7% on average over the last month. Movado is up 7.4% during the same time and is heading into earnings with an average analyst price target of $38 (compared to the current share price of $20.73).
Unless you’ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.
