Movado Group Inc. returned to profitability after two consecutive quarters of losses, but second-quarter earnings fell 93.5 percent compared with last year even as the firm tried to streamline its cost structure.
Net earnings fell to $528,000, or 2 cents a diluted share, from $8.1 million, or 32 cents, a year earlier. Factoring out a charge related to refinancing, adjusted earnings for the quarter fell to 6 cents a share, well ahead of the 21-cent loss analysts projected. Sales for the quarter ended July 31 fell 30.8 percent $89.7 million from $129.7 million a year earlier.
"You start one way as a baby, but why shouldn't you be able to choose your own path as opposed to culturally people telling you which way to go?" - Thom Browne at his men's spring 2018 show, where he celebrated gender fluidity. #pfw #wwdmens (📷: @delphineachard)
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)