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.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)