By  on March 20, 2017
Movado watch

NEW YORK — Movado Group Inc. came out of a lackluster holiday season with sales down for the quarter and the year and plans to carry out a number of cost-saving measures in 2017, while refocusing the brand on digital and e-commerce.

Net sales for the fourth quarter dropped 8.7 percent to $130.8 million and net income fell by about 37 percent to $5.2 million. For 2016 as a whole, net sales fell 7.1 percent to $552.8 million and net income dipped by about 23 percent to $35.1 million.

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