Movado Group Scaling Back Distribution Channels
“The Movado Group plans to reduce its Movado brand U.S. wholesale distribution from 4,000 stores to to 2,600 stores by Jan 31, 2009.” This sounds like a good strategy that should help increase the perceived value of the brand. Less stores equals more exclusivity. Movado says they expect to take some losses from the decrease in volume. However, by making their brand more exclusive I would think they should be able to offset the decrease in volume with an increase in price.
Loading ...Movado 3Q Net Sales Up 8.3%
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 last year.
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Movado serial numbers
Movado I a famous watch manufacturer whose name means a€?always in motiona€? in Esperanto. It started operating in 1881 in a small workshop in La Chaux-de-faunds, Switzerland. Its founder was a talented watchmaker Achille Ditisheim who together with his team consisting of 8 employees started to manufacture all the watches by hand.
Soon their hard work and determination had paid off and they gained their famous name of a Swiss watch manufacturer.
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Movado second - quarter sales up 10 percent
Watchmaker Movado Group Inc. on Thursday posted a 9.8 percent increase in net sales in the fiscal second quarter to $126.6 million, compared with $115.3 million in sales during the same period last year. Same-store sales increased 9.3 percent compared with a 2.3 percent rise in the same period last year.
For the quarter, ended July 31, the Paramus, N.J.-based company posted earnings of $11.3 million, a 31 percent increase compared with $8.6 million in earnings during same period of the prior year.
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