NEW YORK (TheStreet) -- Shares of Movado Group Inc. (MOV - Get Report) are lower by -7.04% to $40.94 in mid-morning trading on Tuesday, after the company reported financial results for the fiscal 2015 second quarter that fell short of analysts' expectations.
The luxury watch maker said net income for the most recent quarter declined to $12.2 million, or 47 cents per diluted share, compared to $12.5 million, or 48 cents per diluted share for the fiscal 2014 second quarter.
Movado's adjusted net income was $11.5 million, or 44 cents per diluted share, falling short of the 54 cents per share analysts polled by Thomson Reuters were expecting.
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