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MOV Movado

Movado Group, Inc. engages in the design, manufacture, and distribution of watches. It operates through Watch and Accessory Brands and Company Stores segments. The Watch and Accessory Brands segment include distribution of watches and, to a lesser extent, jewelry and other accessories, of owned and licensed brands, in addition to revenue generated from after-sales service activities and shipping. The Company Stores segment comprises company's physical retail outlet locations. The company was founded by Gedalio Grinberg in 1967 and is headquartered in Paramus, NJ.

Company profile

Ticker
MOV, MOVAA
Exchange
CEO
Efraim Grinberg
Employees
Incorporated
Location
Fiscal year end
Fossil ...
SEC CIK
IRS number
132595932

MOV stock data

(
)

Calendar

25 Mar 21
12 Apr 21
31 Jan 22
Quarter (USD)
Jan 21 Oct 20 Jul 20 Apr 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jan 21 Jan 20 Jan 19 Jan 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Movado earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 224.42M 224.42M 224.42M 224.42M 224.42M 224.42M
Cash burn (monthly) (positive/no burn) (positive/no burn) (positive/no burn) 11.87M (positive/no burn) (positive/no burn)
Cash used (since last report) n/a n/a n/a 28.69M n/a n/a
Cash remaining n/a n/a n/a 195.74M n/a n/a
Runway (months of cash) n/a n/a n/a 16.5 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Apr 21 Isserman Richard D Common Stock Gift Dispose G No No 0 6,616 0 25,089
29 Mar 21 DElia Vivian Common Stock Grant Aquire A No No 0 2,605 0 30,021
29 Mar 21 DElia Vivian Employee Stock Option Common Stock Grant Aquire A No No 27.62 7,050 194.72K 7,050
29 Mar 21 Grinberg Alexander Common Stock Grant Aquire A No No 0 1,540 0 13,659
29 Mar 21 Grinberg Alexander Phantom Stock Unit Common Stock Grant Aquire A No No 0 14.2 0 2,180.03
29 Mar 21 Howard Alan H Common Stock Grant Aquire A No No 0 5,250 0 56,530
29 Mar 21 Isserman Richard D Common Stock Grant Aquire A No No 0 4,345 0 31,705

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

88.5% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 138 137 +0.7%
Opened positions 20 16 +25.0%
Closed positions 19 12 +58.3%
Increased positions 52 57 -8.8%
Reduced positions 53 47 +12.8%
13F shares
Current Prev Q Change
Total value 375.52M 150.17M +150.1%
Total shares 14.7M 15.11M -2.7%
Total puts 17.3K 503.4K -96.6%
Total calls 17K 23.9K -28.9%
Total put/call ratio 1.0 21.1 -95.2%
Largest owners
Shares Value Change
BLK Blackrock 2.59M $42.96M +6.6%
Dimensional Fund Advisors 1.13M $18.7M -8.0%
Vanguard 1.08M $17.88M +3.7%
Tributary Capital Management 889.26K $14.78M +25.7%
AMP Ameriprise Financial 681.78K $11.33M +9.4%
STT State Street 609.69K $10.13M -3.6%
NTRS Northern Trust 445.87K $7.41M -1.8%
BMO Bank of Montreal 401.71K $7.59M +10067.2%
Millennium Management 335.52K $5.58M +88.9%
Confluence Investment Management 308.24K $5.12M -4.9%
Largest transactions
Shares Bought/sold Change
BMO Bank of Montreal 401.71K +397.76K +10067.2%
Hotchkis & Wiley Capital Management 0 -370.08K EXIT
Anson Funds Management 43.11K -332.02K -88.5%
GS Goldman Sachs 208.78K -305.53K -59.4%
Manufacturers Life Insurance Company, The 284.85K -251.57K -46.9%
JPM JPMorgan Chase & Co. 231.85K +185.66K +401.9%
Tributary Capital Management 889.26K +181.98K +25.7%
BLK Blackrock 2.59M +160.04K +6.6%
Millennium Management 335.52K +157.92K +88.9%
Guggenheim Capital 139.31K +139.31K NEW

Financial report summary

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Competition
FossilSwatchFitbit
Risks
  • The COVID-19 pandemic has materially affected how we and our customers and suppliers operate, and the duration and extent to which COVID-19, new strains or variants, or other public health threats and epidemics will impact our future results of operations and overall financial performance remains uncertain.
  • 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.
  • The Company’s business is subject to foreign currency exchange rate risk.
  • 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.
  • 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.
  • 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.
  • The Company relies on independent parties to manufacture its products. Any loss of an independent manufacturer, or the Company’s inability to deliver quality goods in a timely manner, could have an adverse effect on customer relations, brand image, net sales and results of operations.
  • 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.
  • The Company depends on its information systems to run its business and any significant breach of or disruption to those systems could materially disrupt the Company’s business.
  • Acquisitions inherently involve significant risks and uncertainties.
  • Impairment charges could have an adverse impact on our results of operations.
  • The loss or infringement of the Company’s trademarks or other intellectual property rights could have an adverse effect on future 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.
  • 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 7.  Management’s Discussion and Analysis of Financial Condition and Results of Operations
  • The Company operates and manages its business in two principal business segments: Watch and Accessory Brands and Company Stores. The Company also operates in two geographic locations: United States and International.
  • The Company divides its watch and accessory business into two principal categories: the owned brands category and the licensed brands category. The owned brands category consists of the Movado®, Concord®, Ebel®, Olivia Burton® and MVMT® brands. Products in the licensed brands category include the following brands manufactured and distributed under license agreements with the respective brand owners: Coach®, Tommy Hilfiger®, Hugo Boss®, Lacoste®, and SCUDERIA FERRARI®.  
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
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