Movado Group Inc. posted lower first-quarter profits due to a year-ago gain in connection with the sale of its company-owned building in Switzerland.
For the three months ended April 30, net income fell 10.3 percent to $7.4 million, or 29 cents a diluted share, from $8.2 million, or 32 cents, a year ago. Excluding the $1.5 million pretax gain from the real estate sale a year ago, operating income rose 9.2 percent to $10.9 million from $10 million. Net sales rose 9.9 percent in the quarter to $120.9 million from $110 million.
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?"