Movado Net Sales Up 25%in 1Q



Movado
Group
today announced that their net sales in the first quarter increased
25%, excluding sales of excess discontinued product last year, to $78.9
million.

Separately, the company also announced that its retail subsidiary, Movado
Retail Group, will close its retail boutique division effective June 30th, in
an effort to improve profitability. Movado will continue to sell its watch
products primarily through its wholesale model.