movado g15211

In the last few years, Movado has created watches that are a departure from their past models. The brand new Master TM, which was introduced at Baselworld 2010, features the brand's iconic Museum dial, and the signature 12 o'clock "dot", and you can clearly distinguish this as a Movado timepiece. However, the design is definitely going in a different direction in recent years, at least for some of the models. In this case, the dial is asymmetrical with a sporty matt black or, white dot-textured motif. The strap, which is also available in white or black, features the same dot-textured pattern, and matches well with the theme on the dial. Definitely a look I would not have expected to see on a Movado a couple years ago. Another feature you do not usually see on a Movado timepiece, is luminescent hour markers. This is a design element that definitely shows that Movado is trying to appeal to a more sports oriented audience. Inside, powering this timepiece is an ETA automatic movement, with 25 jewels and 39 hours of power reserve. And just like last year's Red Label Museum Calendomatic timepiece, Movado has once again incorporated a red "M" logo on the automatic rotor, which is visible through the sapphire caseback. One feature, that I liked the most, is the black sapphire bezel. Ceramic bezels are very cool, and very scratch resistant, but they cost a lot. The sapphire, on the other hand, is much more affordable, and is equally scratch resistant. Plus it has a nice shiny su***ce, which really goes well and adds an elegant touch to an otherwise sporty timepiece.Movado has created a sport version of their Museum timepiece, while maintaining the elegant look that they are known for. If the textured dial, luminescent markers and rubber strap do not convince you of this timepiece's sportiness. Then maybe the 1000 foot water-resistance rating will. This is not the sportiest watch on the market, not even close, but it is the sportiest watch in Movado's lineup. Retail $3,000-5,000 Source: Movado

Movado Group, Inc. said its net sales for the third quarter increased 8.3 percent to $180.2 million. Same-store sales grew 8.8 percent at the Movado boutiques for the period ended Oct. 31, versus a 0.5 percent gain achieved during the third quarter of 2006.Gross profit for the quarter was $109.9 million, or 61 percent of sales, compared to $97.9 million, or 58.9 percent of sales latest year. Excluding excess discontinued product sales from the current quarter and year-ago period, adjusted big profit was $109.2 million, or 64.7 percent of sales and $97.9 million, or 63.5 percent of sales, respectively.Operating profit was $28.5 million versus $19.8 million last year. Year-ago operating profit included two unusual items, which resulted in a combined $3.8 million non-cash charge. Excluding these items, year-ago adjusted operating profit was $23.6 million. On a reported basis, net income was $26.5 million, versus net income of $21.9 million in the year-ago period.Adjusting for unusual items recorded in fiscal 2008 and fiscal 2007, third quarter net income increased 23.7 percent to $21.3 million from $17.2 million last year.For the first nine months of the fiscal year, Movado net sales increased 7.8 percent to $421 million. Same-store sales rose 1.1 percent at the company’s Movado boutiques versus a 5 percent gain achieved last year.Gross profit was $254.9 million, or 60.5 percent of sales, compared to $236 million, or 60.4 percent of sales last year. Excluding excess discontinued product sales from the current nine-month period and year-ago period, adjusted gross profit was $254.6 million, or 63.9 percent of sales and $236 million, or 62.4 percent of sales, respectively.Operating profit was $47.6 million versus $37.3 million last year. Year-ago operating profit included the previously mentioned unusual items recorded in the third quarter. Excluding these items, year-ago adjusted operating profit was $41.1 million. On a reported basis, net income was$41.2 million, versus net income of $36.1 million in the year-ago period.Adjusting for unusual items recorded in fiscal 2008 and fiscal 2007, net income for the nine-month period increased 18.9 percent to $35.8 million from $30.1 million last year."Third quarter results were strong as we positioned each of our brands in the marketplace with bold new products, aspirational advertising campaigns, including Movado’s milestone celebration of 60 years of modern design, and fully integrated marketing programs," said said Efraim Grinberg, Movado president and chief executive officer. "We have made great strides in building our international business, which grew 33 percent from last year and represented over 40 percent of wholesale revenue during the third quarter."Movado said it recognizes there is a growing sense of uncertainty surrounding the outlook of the U.S. economy. Results for the full year will reckon on on the strength of the holiday season and retailer replenishment in January.Based on the company’s results for the first nine months of fiscal 2008 and assuming that the U.S. economic environment does not deteriorate, Movado Group said it now projects fiscal 2008 net sales to be approximately $560 million.