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Why Movado Group Stock Was Falling Today

TheMotleyFool

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Why Movado Group Stock Was Falling TodayPhoto, wide shot, wide-angle lens, Toy manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by David Maisel: https://img.theapi.app/temp/2788fcd3-d339-4592-8f5c-a3b9125dc61f.png

Shares of Movado Group (NYSE: MOV) were pulling back today after the watch retailer missed estimates on the top line in its third-quarter earnings report, and lowered its guidance for the year.

As of 12:01 p.m. ET on Tuesday, the stock was down 11.1% on the news.

Movado, which sells high-end watches, reported a 2.9% decline in revenue to $211.4 million, missing estimates at $225.6 million. On a constant-currency basis, revenue was 3.4% in the period.

Source Fool.com

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