NEW YORK — Cost cuts allowed Movado Group Inc. to post gains in second-quarter profits despite an appreciable sales decline.
For the three months ended July 31, the Paramus, N.J.-based watchmaker reported net income grew 4.8 percent to $5.4 million, or 44 cents a diluted share. That compares with net income of $5.1 million, or 42 cents, in the prior-year quarter. Earnings per share beat the Wall Street consensus estimate by a penny.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"