Friday, March 19, 2010

Movado's Bleak Forecast Contrasts With Competitors'; Results

The Wall Street Journal

Movado Group Inc’s (MOV) bleak forecast and steeper-than-expected fiscal fourth-quarter loss show the watch maker is still struggling while many of its competitors are starting to benefit from improving conditions.

"When you look at Movado’s products, ranging from Tommy Hilfiger to Hugo Boss, these products are not as fashionable as some of the other products being released," Wall Street Strategies analyst Brian Sozzi said. "There is demand for watches because many customers haven’t been in malls for over a year, but they want products that add value to their assortment and add fashion, like Tag Heuer," which is owned by LVMH Moet Hennessy Louis Vuitton (LVMUY, MC.FR).

Link to full article: http://online.wsj.com/article/BT-CO-20100316-710734.html?mod=WSJ_latestheadlines