Company profile

Efraim Grinberg
Incorporated in
Fiscal year end
Fossil ...
IRS number

MOV stock data



9 Jun 20
2 Jul 20
31 Jan 21


Company financial data Financial data

Quarter (USD) Apr 20 Jan 20 Oct 19 Jul 19
Revenue 69.67M 190.98M 205.62M 157.82M
Net income -150.09M 3.53M 17.46M 17.46M
Diluted EPS -6.48 0.15 0.76 0.75
Net profit margin -215% 1.85% 8.49% 11.06%
Operating income -182.16M 6.6M 22.64M 8.78M
Net change in cash 1.96M 69.85M -18.87M -15.82M
Cash on hand 187.83M 185.87M 116.03M 134.89M
Cost of revenue 37.77M 90.38M 95.55M 72.48M
Annual (USD) Jan 20 Jan 19 Jan 18 Jan 17
Revenue 700.97M 679.57M 567.95M 552.75M
Net income 42.38M 61.57M -15.23M 35.14M
Diluted EPS 1.83 2.61 -0.66 1.51
Net profit margin 6.05% 9.06% -2.68% 6.36%
Operating income 42.99M 62.2M 43.2M 53.98M
Net change in cash -4.04M -24.9M -41.47M 28.09M
Cash on hand 185.87M 189.91M 214.81M 256.28M
Cost of revenue 326.08M 310.21M 269.88M 257.94M

Financial data from Movado earnings reports

Date Owner Security Transaction Code $Price #Shares $Value #Remaining
16 Jun 20 Demarsilis Sallie A Employee Stock Option Common Stock Grant Aquire A 12.42 100,000 1.24M 100,000
16 Jun 20 Behzad Soltani Employee Stock Option Common Stock Grant Aquire A 12.42 100,000 1.24M 100,000
17 Apr 20 Demarsilis Sallie A Common Stock Payment of exercise Dispose F 9.41 227 2.14K 43,742
17 Apr 20 Demarsilis Sallie A Common Stock Payment of exercise Dispose F 9.41 1,810 17.03K 43,969
17 Apr 20 DElia Vivian Common Stock Payment of exercise Dispose F 9.41 96 903.36 24,416
17 Apr 20 DElia Vivian Common Stock Payment of exercise Dispose F 9.41 785 7.39K 24,512
13F holders
Current Prev Q Change
Total holders 139 142 -2.1%
Opened positions 20 19 +5.3%
Closed positions 23 25 -8.0%
Increased positions 46 52 -11.5%
Reduced positions 46 42 +9.5%
13F shares
Current Prev Q Change
Total value 599.61M 1.2B -50.2%
Total shares 16.53M 17.42M -5.1%
Total puts 85.3K 27.1K +214.8%
Total calls 68.3K 44K +55.2%
Total put/call ratio 1.2 0.6 +102.8%
Largest owners
Shares Value Change
BLK BlackRock 2.58M $30.51M -1.6%
Vanguard 1.63M $19.3M -7.8%
Dimensional Fund Advisors 1.38M $16.29M -0.2%
Thrivent Financial For Lutherans 1.02M $12.08M -0.2%
STT State Street 676.8K $8M +38.6%
FRLG Goldman Sachs 548.28K $6.48M +54.8%
JHG Janus Henderson 545.35K $6.45M -47.9%
AMP Ameriprise Financial 526.65K $6.23M +25.0%
Tributary Capital Management 478.09K $5.65M -2.3%
NTRS Northern Trust 465.89K $5.51M +0.1%
Largest transactions
Shares Bought/sold Change
JHG Janus Henderson 545.35K -501.5K -47.9%
Wellington Management 119.07K -381.26K -76.2%
Ceredex Value Advisors 0 -251.93K EXIT
MS Morgan Stanley 205.18K -206.73K -50.2%
FRLG Goldman Sachs 548.28K +194.01K +54.8%
STT State Street 676.8K +188.61K +38.6%
Vanguard 1.63M -138.45K -7.8%
Confluence Investment Management 289.11K +115.37K +66.4%
AMP Ameriprise Financial 526.65K +105.18K +25.0%
Panagora Asset Management 0 -84.2K EXIT

Financial report summary

  • The recent COVID-19 novel coronavirus, or other public health threats and epidemics, could materially and adversely affect our business.
  • Adverse economic conditions in key markets, and the resulting declines in consumer confidence and spending, could have a material adverse effect on the Company’s operating results.
  • “Brexit” has created significant uncertainty for the Company’s U.K. business operations which could have a material adverse effect on the Company’s financial condition and results of operations.
  • A significant portion of the Company’s business is conducted outside of the United States. Many factors affecting business activities outside the United States could adversely impact this business.
  • U.S. Special Tariffs or other restrictions placed on imports from China, and any retaliatory trade measures taken by China, may have a material adverse impact on the Company’s financial condition and results of operations.
  • The Company’s wholesale business could be negatively affected by the consumer shift toward online shopping, as well as by further changes of ownership, contraction and consolidation in the retail industry.
  • The Company faces intense competition in the worldwide watch industry not only from competitors selling traditional watches but also from those selling smart watches and other smart wearables.
  • The design, sourcing, marketing, distribution and after-sales servicing of smart watches involve additional challenges to those applicable to traditional watches.
  • Maintaining favorable brand recognition is essential to the Company’s success, and failure to do so could materially and adversely affect the Company’s results of operations.
  • If the Company loses any of its license agreements, there may be significant loss of revenues and a negative effect on business.
  • Changes in the sales or channel mix of the Company’s products could impact gross profit margins.
  • The Company’s business is seasonal, so events and circumstances that adversely affect holiday consumer spending will have a disproportionately adverse effect on the Company’s results of operations.
  • Sales in the Company’s retail outlet locations are dependent upon customer foot traffic.
  • If the Company is unable to maintain existing space or to lease new space for its retail outlets in prime outlet center locations or is unable to complete construction on a timely basis, the Company’s ability to achieve favorable results in its retail business could be adversely affected.
  • The Company’s e-commerce business is subject to numerous risks that could have an adverse effect on the Company’s business and results of operations.
  • If the technology-based systems that give the Company’s customers the ability to shop online do not function effectively, the Company’s operating results could be materially adversely affected.
  • If the Company misjudges the demand for its products, high inventory levels could adversely affect future operating results and profitability.
  • If the Company were to lose its relationship with any of its key customers or distributors or any of such customers or distributors were to experience financial difficulties, there may be a significant loss of revenue and operating results.
  • The inability or difficulty of the Company’s customers, suppliers and business partners to obtain credit could materially and adversely affect its results of operations and liquidity.
  • An increase in product returns could negatively impact the Company’s operating results and profitability.
  • Interruptions at any of the Company’s major warehouse and distribution centers could materially adversely affect its business.
  • Fluctuations in the pricing of commodities or the cost of labor could adversely affect the Company’s ability to produce products at favorable prices.
  • Current or future cost reduction, streamlining, restructuring or business optimization initiatives could result in the Company incurring significant charges.
  • If the Company is unable to successfully implement its growth strategies, its future operating results could suffer.
  • Acquisitions inherently involve significant risks and uncertainties.
  • Impairment charges could have an adverse impact on our results of operations.
  • Changes to laws or regulations impacting the industries in which the Company operates could require it to alter its business practices which could have a material adverse effect on its results of operations.
  • Changes to tax laws or regulations could have a material adverse effect on the Company’s financial condition and results of operations.
  • The Company is subject to complex and evolving laws and regulations regarding privacy and data protection that could result in legal claims, changes to business practices and increased costs that could materially and adversely affect the Company’s results of operations.
  • If the Company were to experience a significant privacy breach, it could be subject to costly government enforcement actions and private litigation and suffer significant negative publicity which could materially and adversely affect the Company’s results of operations.
  • From time to time the Company is subject to legal proceedings that could result in significant expenses, fines and reputational damage.
  • If the Company were to lose key members of management or be unable to attract and retain the talent required for the business, operating results could suffer.
  • If the Company cannot secure and maintain financing and credit on favorable terms, the Company’s financial condition and results of operations may be materially adversely affected.
  • Changes to the method of determining LIBOR or the selection of a replacement for LIBOR may affect our financial instruments.
  • The Grinberg family owns a majority of the voting power of the Company’s stock.
  • The Company’s stock price could fluctuate and possibly decline due to changes in revenue, operating results and cash flows.
Management Discussion
  • Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
  • Statements in this Quarterly Report on Form 10-Q, including, without limitation, statements under Item 2 “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere in this report, as well as statements in future filings by the Company with the Securities and Exchange Commission (the “SEC”), in the Company’s press releases and oral statements made by or with the approval of an authorized executive officer of the Company, which are not historical in nature, are intended to be, and are hereby identified as, “forward-looking statements” for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates, forecasts and projections about the Company, its future performance, the industry in which the Company operates and management’s assumptions. Words such as “expects”, “anticipates”, “targets”, “goals”, “projects”, “intends”, “plans”, “believes”, “seeks”, “estimates”, “may”, “will”, “should” and variations of such words and similar expressions are also intended to identify such forward-looking statements. The Company cautions readers that forward-looking statements include, without limitation, those relating to the Company’s future business prospects, projected operating or financial results, revenues, working capital, liquidity, capital needs, inventory levels, plans for future operations, expectations regarding capital expenditures, operating efficiency initiatives and other items, cost savings initiatives, and operating expenses, effective tax rates, margins, interest costs, and income as well as assumptions relating to the foregoing. Forward-looking statements are subject to certain risks and uncertainties, some of which cannot be predicted or quantified. Actual results and future events could differ materially from those indicated in the forward-looking statements, due to several important factors herein identified, among others, and other risks and factors identified from time to time in the Company’s reports filed with the SEC, including, without limitation, the following: general economic and business conditions which may impact disposable income of consumers in the United States and the other significant markets (including Europe) where the Company’s products are sold; uncertainty regarding such economic and business conditions; trends in consumer debt levels and bad debt write-offs; general uncertainty related to possible terrorist attacks, natural disasters, pandemics, including the effect of the COVID-19 pandemic and other diseases on travel and traffic in the Company’s retail stores and wholesale business; supply disruptions and delivery delays from the Company’s Chinese and other suppliers as a result of the COVID-19 pandemic; adverse impact on the Company’s wholesale customers and customer traffic in the Company’s stores as a result of increased uncertainty and economic disruption caused by the COVID-19 pandemic; the stability of the European Union (including the impact of the United Kingdom’s process to exit from the European Union); the stability of the United Kingdom after its exit from the European Union, and defaults on or downgrades of sovereign debt and the impact of any of those events on consumer spending; changes in consumer preferences and popularity of particular designs, new product development and introduction; decrease in mall traffic and increase in e-commerce; the ability of the Company to successfully implement its business strategies, competitive products and pricing; the impact of “smart” watches and other wearable tech products on the traditional watch market; seasonality; availability of alternative sources of supply in the case of the loss of any significant supplier or any supplier’s inability to fulfill the Company’s orders; the loss of or curtailed sales to significant customers; the Company’s dependence on key employees and officers; the ability to successfully integrate the operations of acquired businesses without disruption to other business activities; the possible impairment of acquired intangible assets including goodwill if the carrying value of any reporting unit were to exceed its fair value; volatility in reported earnings resulting from changes in the estimated fair value of contingent acquisition consideration; the continuation of the Company’s major warehouse and distribution centers; the continuation of licensing arrangements with third parties; losses possible from pending or future litigation; the ability to secure and protect trademarks, patents and other intellectual property rights; the ability to lease new stores on suitable terms in desired markets and to complete construction on a timely basis; the ability of the Company to successfully manage its expenses on a continuing basis; information systems failure or breaches of network security; the continued availability to the Company of financing and credit on favorable terms; business disruptions; and general risks associated with doing business outside the United States including, without limitation, import duties, tariffs (including retaliatory tariffs), quotas, political and economic stability, changes to existing laws or regulations, and success of hedging strategies with respect to currency exchange rate fluctuations.
  • These risks and uncertainties, along with the risk factors discussed under Item 1A. “Risk Factors” in the Company’s 2020 Annual Report on Form 10-K, should be considered in evaluating any forward-looking statements contained in this report or incorporated by reference herein. All forward-looking statements speak only as of the date of this report or, in the case of any document incorporated by reference, the date of that document. All subsequent written and oral forward-looking statements attributable to the Company or any person acting on its behalf are qualified by the cautionary statements in this section. The Company undertakes no obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this report.
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