Movado Group jumps on 2022 outlook raise after strong quarter

Movado

23/11/2021 15:34

** Shares  MOV.N  of the maker of Scuderia Ferrari and Tommy
Hilfiger watches jump 8.3% to $43.23 in morning trade
    ** Company raises fiscal 2022 net sales outlook to the range
of about $715 mln to $720 mln from $680 mln-$695 mln expected
previously, also raises full-year earnings per share forecast
 urn:newsml:reuters.com:*:nBw5TV3Yka
    ** Q3 net sales rise 28.2% to $217.7 mln in the qtr, helped
by growth in demand at both brick-and-mortar stores and digital
channels
    ** Net income rises to $31.4 mln from $14.8 mln a year ago
    ** Including session's gains, stock has surged 160% YTD

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))