Movado 3Q15 Earnings Call Notes

posted in: Notes | 0

Movado’s (MOV) CEO Efraim Grinberg on Q3 2016 Results

Global market continue to present challenges

“As a recurring theme for this year, during the third quarter, global market has continued to present challenges, giving us who many referred to as a VUCA environment that is one filled with volatility, uncertainty, complexity and ambiguity.”

Challenging environment for retail

“as everybody has witnessed over the last quarter, the Retail environment went through a very challenging time in the third quarter. One of the important things is there is always Christmas in the fourth quarter. So, I think that’s going to be an important catalyst to how the retailers and the year. But I think given the continued volatility in environment, you are going to see a continued focus on inventory levels, not only in watches, across retailers overall.”

Trying to focus on ourselves

“Like we said before, we’re very confident in our innovation pipeline. Our product offering for this holiday season is really very strong, not just because we’re saying it but our Retail partners are also commenting on the strengths of our product offering across our portfolio.”

It may be less promotional this year

“it’s been quite promotional over the last several holiday seasons. I think there is possibilities you’ll see is scaling back of that in the future. I don’t think you’ll see that this holiday season.”