MOV - Why Movado Stock Might Have More Room to Run
Movado Group (NYSE: MOV) shareholders enjoyed a well-timed surprise on Thursday morning as the stock jumped 13% immediately following the company's quarterly earnings announcement. It settled down to a more modest gain of 7.6% as of 3 p.m. ET, but that still trounced the S&P 500 , which was up by about 1%.
Real investor returns, though, are not measured in hours, but in years and decades. With that in mind, let's take a look at why Movado might now be on a brighter long-term path.
In the company's fiscal fourth quarter, sales jumped by 17% to put annual revenue at $732 million. That result easily beat the upgraded outlook that management issued back in late November calling for sales of between $715 million and $720 million in Movado's fiscal 2022, which ended Jan. 31.
For further details see:
Why Movado Stock Might Have More Room to Run