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Movado Group, Inc. Dials Back Expectations

2016-04-01 22:43:06| Jewelry - Topix.net

Gross profit rose 12% to $75.4 million -- with gross margin increasing to 52.6% of sales from 50.3% in the year-ago quarter -- as price increases, supply chain sourcing improvements, and favorable changes in channel and product mix more than offset the negative impact of foreign exchange rate fluctuations. Operating margin also improved, rising to 8.1% from 7.5% in the year-ago period, as operating income jumped 14% to $11.5 million.

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