Luxury watch company Movado (NYSE: MOV) will be reporting results tomorrow before market hours. Here’s what you need to know.
Movado missed analysts’ revenue expectations by 3.8% last quarter, reporting revenues of $174.7 million, up 1.9% year on year. It was a disappointing quarter for the company, with a miss of analysts’ EPS estimates.
Is Movado a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Movado’s revenue to grow 4% year on year to $142.1 million, a reversal from the 5.7% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Movado’s peers in the apparel and accessories segment, some have already reported their Q1 results, giving us a hint as to what we can expect. ThredUp delivered year-on-year revenue growth of 10.5%, beating analysts’ expectations by 4.4%, and Figs reported revenues up 4.7%, topping estimates by 4.8%. ThredUp traded up 48.1% following the results while Figs was down 1.7%.
Read our full analysis of ThredUp’s results here and Figs’s results here.
There has been positive sentiment among investors in the apparel and accessories segment, with share prices up 8% on average over the last month. Movado is up 24.2% during the same time and is heading into earnings with an average analyst price target of $31.50 (compared to the current share price of $17.39).
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