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Movado Group Posts $22.8 Million 4Q Loss

Stock quotes in this article: MOV  

PARAMUS, N.J. (AP) — Movado Group Inc. said Thursday it eliminated its quarterly dividend and posted a fourth-quarter loss because of one-time charges and a tough economy that crimped demand for the company's watches.

For the period ended Jan. 31, the company posted a loss of $22.8 million, or 92 cents, after earnings of $19.6 million, or 72 cents per share, a year ago.

Sales declined 32 percent to $94 million from $138.6 million. ...

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