Movado Has Another Blowout Quarter Thanks to Recent Acquisitions

In an era of cellphones and bare wrists, Movado is bucking the trend with fashionable watches. The American watchmaker’s stock surged Thursday morning after improving on both top and bottom lines for the most recent quarter. For the fourth quarter of fiscal year 2019, or the three-month period ending Jan. 31, 2019, revenues increased 33.6 percent to $199.4 million, up from $149.2 million the year before. Income also rose to $17.1 million, compared with only $13.3 million during 2018’s fourth quarter. Shares of Movado Group shot up more than 21 percent Thursday morning as a result. “Fiscal 2019 marked another year of progress on our strategies — to deliver innovation across our portfolio of powerful brands in an omnichannel market, capitalize on our strong balance sheet and cash flow to acquire new brands and develop our digital presence,” Efraim Grinberg, chairman and chief executive officer of Movado, said in a statement. “While we continue to operate in an evolving and challenging global marketplace for both retail and the watch category, we expect to continue to deliver growth on both the top line and bottom line in fiscal 2020 through continued product innovation, effective marketing and disciplined execution of our strategies and growth

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