Movado Group Q2 profit up 78% to USD 8 mn

Admin — Fri, 23 May 2014 07:52:59 +0000

Movado Group reported that revenue rose 4.2 per cent Y-o-Y to USD 118 mn for the second quarter that ended on July 31. The retailer held costs of sales flat at USD 52.3 mn, which helped boost income 78 per cent Y-o-Y to USD 8.2 mn. Sales growth was partially offset by the group’s planned reduction in sales of the ESQ and Ebel brands ahead of their fall re-launch.

Gross profit improved to 55.7 per cent of sales compared with 53.8 per cent a year ago. Movado recorded a tax provision of USD 2.5 mn, which equates to an effective tax rate of 23.6 per cent compared with 16 per cent a year ago. Movado recorded no debt at the close of its quarter.

Men’s jewellery collection by Abaran Jewellers

Admin — Thu, 22 May 2014 06:34:03 +0000

Abaran presents new range of men’s jewellery collection includes a range of designed bracelets, rings, chains, cufflinks, tiepins, belt buckles and kurta buttons set in gold, platinum and diamond embedded pieces. The men’s collection starts from Rs 15,000 onwards and is available at Abaran’s exclusive showroom on Chord Road, Bangalore.

» Men’s jewellery

Movado Group Q2 profit up 78% to USD 8 mn

Men’s jewellery collection by Abaran Jewellers