Movado (MOV) Reports Earnings Tomorrow: What To Expect

Luxury watch company Movado (NYSE:MOV) will be reporting results this Wednesday before the bell. Here’s what you need to know.

Movado beat analysts’ revenue expectations last quarter, reporting revenues of $142.4 million, up 8.1% year on year. It was a stunning quarter for the company, with a beat of analysts’ EPS estimates.

Is Movado a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting Movado’s revenue to grow 1.5% year on year, slowing from the 3.1% increase it recorded in the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Movado has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at Movado’s peers in the consumer discretionary – apparel and accessories segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Figs delivered year-on-year revenue growth of 28.8%, beating analysts’ expectations by 5.6%, and Ralph Lauren reported revenues up 14%, topping estimates by 4.9%. Figs traded up 26.9% following the results while Ralph Lauren was also up 3.9%.

Read our full analysis of Figs’s results here and Ralph Lauren’s results here.

Investors in the consumer discretionary – apparel and accessories segment have had steady hands going into earnings, with share prices flat over the last month. Movado is down 7.2% during the same time and is heading into earnings with an average analyst price target of $47.50 (compared to the current share price of $34.85).

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