SIG - Movado Group: Short-Term Pain Gives Investors More Time To Get In
2024-03-26 17:44:45 ET
Summary
- Movado Group, Inc.'s revenue and earnings for Q4 2024 exceeded analysts' expectations, leading to a modest increase in shares.
- The company plans to increase spending on advertising to drive growth in 2025.
- Despite recent declines in revenue and profits, Movado Group stock is attractively priced and the company's excess cash provides stability.
One company that had a fairly decent day on March 26th was watch and accessories manufacturer Movado Group, Inc. ( MOV ). Shares of the business rose by about 2.7% (before closing up less than 1%) after management reported revenue and earnings for the final quarter of the company's 2024 fiscal year that exceeded analysts’ expectations . Guidance for revenue for 2025 suggests a return to growth. But this will come at the expense of additional spending on advertising....
Movado Group: Short-Term Pain Gives Investors More Time To Get In