Updated from 7:53 a.m.
beat third-quarter targets but guided below the full-year consensus. Shares fell 3%.
The Paramus, N.J., watch seller made $22 million, or 82 cents a share, for the third quarter ended Oct. 31, up from the year-ago $14 million, or 54 cents a share. On an adjusted basis, excluding certain items, earnings rose to 64 cents from 50 cents a year earlier.
Sales rose 17% from a year ago to $166 million, as same-store sales at Movado boutiques rose 0.5%.
Analysts surveyed by Thomson Financial were looking for a 61-cent profit on sales of $156 million.
The company said it expects to make $1.45 to $1.50 a share for the year ending next month, up from the year-ago $1.25. Analysts were looking for $1.58. The company cites a higher tax rate for the discrepancy.
Shares dropped 71 cents to $25.29.