March 20, 2017 / 12:04 PM / 4 months ago

BRIEF-Movado Group Q4 EPS $0.22

2 Min Read

March 20 (Reuters) - Movado Group Inc

* Movado group, inc. Announces fourth quarter and fiscal year 2017 results

* Sees fy 2018 earnings per share $1.40 to $1.55

* Q4 earnings per share $0.22

* Sees fy 2018 sales $515 million to $530 million

* Q4 sales $130.8 million versus i/b/e/s view $137.1 million

* Q4 earnings per share view $0.23 -- Thomson Reuters I/B/E/S

* Movado Group Inc - company recorded no unusual items during q4 of fiscal 2017

* Movado Group Inc - "looking at fiscal 2018, we anticipate retail environment will remain difficult"

* Movado Group Inc - "implementing a number of cost savings initiatives to better align its global infrastructure with current business environment"

* Movado Group Inc - company expects to realize approximately $12.0 million of savings in fiscal 2018

* Movado Group Inc - estimates approximately $15.0 million in on-going annual pre-tax savings from cost saving initiatives in fiscal 2018

* Movado Group Inc- expects to record a pre-tax charge in connection with completion of initiatives in a range of about$7-$10 million, predominantly in q1

* Movado Group Inc - "taking a more conservative view for fiscal 2018 compared to fiscal 2017"

* Fy2018 earnings per share view $1.74 -- Thomson Reuters I/B/E/S

* Movado Group Inc - during q4 of fiscal 2017, company repurchased approximately 20,000 shares under its share repurchase program

* Movado group-consolidating certain operations and shifting a greater portion of investment into continued development and growth of digital footprint

* Fy2018 earnings per share view $1.74, revenue view $581.5 million -- Thomson Reuters I/B/E/S Source text for Eikon: Further company coverage:

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