By  on August 27, 2013

Movado Group Inc. said Tuesday that stronger watch sales and a tax benefit bolstered its second-quarter profit 55.6 percent. The Paramus, NJ-based watch vendor raised its full-year guidance above Wall Street’s expectations, sending shares up 4 percent to $41.99 Tuesday.

For the quarter ended July 31, Movado posted earnings of $12.5 million, or 48 cents a diluted share, versus year-ago income of $8.2 million, or 32 cents a share.

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