Luxury watchmaker Movado up after higher Q4 sales; to lift prices amid tariff impact

Movado

16/04/2025 13:29

** Shares of luxury watchmaker Movado Group MOV.N jump 10.5% to $14.44 premarket

** Co's Q4 FY25 net sales rise to $181.5 million from $175.8 million a year ago

** Says it will raise some prices at wholesale and retail levels to mitigate impact of tariffs

** Adds it is not providing FY26 forecasts at this time due to "current economic uncertainty and the unpredictable impact of recent tariff developments on the company’s business"

** Q4 gross margin increases to 54.2% from 53.5% a year ago

** Co says will reduce marketing spending in FY26 by $15 million to $20 million compared to FY25, to be more in-line with sales growth

** Stock down 33% YTD, as of last close

 (Reporting by Juveria Tabassum in Bengaluru)

 ((Juveria.Tabassum@thomsonreuters.com))