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Why Movado Group Stock Was Falling Today

Jeremy Bowman, The Motley Fool
·2-min read
Why Movado Group Stock Was Falling Today

Shares of Movado Group (NYSE: MOV) were pulling back today after the watch retailer missed estimates on the top line in its third-quarter earnings report, and lowered its guidance for the year. Movado, which sells high-end watches, reported a 2.9% decline in revenue to $211.4 million, missing estimates at $225.6 million. Gross margin slipped 40 basis points to 57.3%, while operating margin remained strong at 18.4%, though that was down from 19% in the year-ago quarter.

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