Q4 Earnings Outperformers: Movado (NYSE:MOV) And The Rest Of The Apparel, Accessories and Luxury Goods Stocks
Quarterly earnings results are a good time to check in on a company’s progress, especially compared to other peers in the same sector. Today we are looking at Movado (NYSE:MOV), and the best and worst performers in the apparel, accessories and luxury goods group.
Within apparel and accessories, not only do styles change more frequently today than decades past as fads travel through social media and the internet but consumers are also shifting the way they buy their goods, favoring omnichannel and e-commerce experiences. Some apparel, accessories, and luxury goods companies have made concerted efforts to adapt while those who are slower to move may fall behind.
The 16 apparel, accessories and luxury goods stocks we track reported a weaker Q4; on average, revenues missed analyst consensus estimates by 1.2% while next quarter's revenue guidance was 4.2% below consensus. Stocks have faced challenges as investors prioritize near-term cash flows, but apparel, accessories and luxury goods stocks held their ground better than others, with the share prices up 0.3% on average since the previous earnings results.
Movado (NYSE:MOV)
With its watches displayed in 20 museums around the world, Movado (NYSE:MOV) is a watchmaking company with a portfolio of watch brands and accessories.
Movado reported revenues of $179.6 million, down 7.5% year on year, topping analyst expectations by 2.8%. It was a solid quarter for the company, with an impressive beat of analysts' earnings estimates and full-year revenue guidance exceeding analysts' expectations.
Efraim Grinberg, Chairman and Chief Executive Officer, stated, “We ended the year with revenue and diluted earnings per share at the high end and above our revised outlook, respectively. Our holiday marketing initiatives and new product introductions in both watches and jewelry were favorably received despite a challenging retail backdrop in the U.S. and Europe. Early in the fourth quarter, we successfully tested marketing programs that will be continued and expanded upon in fiscal 2025 as their effectiveness is demonstrated.”
Movado pulled off the highest full-year guidance raise of the whole group. The stock is up 4.7% since the results and currently trades at $27.78.
Is now the time to buy Movado? Access our full analysis of the earnings results here, it's free.
Best Q4: Ralph Lauren (NYSE:RL)
Originally founded as a necktie company, Ralph Lauren (NYSE:RL) is an iconic American fashion brand known for its classic and sophisticated style.
Ralph Lauren reported revenues of $1.93 billion, up 5.6% year on year, outperforming analyst expectations by 3.4%. It was a very strong quarter for the company. Ralph Lauren blew past analysts' revenue and EPS expectations, driven by strong outperformance in its Europe ($522 million of revenue vs estimates of $471 million) and Asia ($446 million of revenue vs estimates of $428 million) segments. The company also beat Wall Street's same-store sales estimates, posting 9% growth (vs the forecasted 4.3% growth).
The stock is up 21.2% since the results and currently trades at $178.3.
Is now the time to buy Ralph Lauren? Access our full analysis of the earnings results here, it's free.
Weakest Q4: VF Corp (NYSE:VFC)
Owner of The North Face, Vans, and Supreme, VF Corp (NYSE:VFC) is a clothing conglomerate specializing in branded lifestyle apparel, footwear, and accessories.
VF Corp reported revenues of $2.96 billion, down 16.2% year on year, falling short of analyst expectations by 8.9%. It was a weak quarter for the company, with a miss of analysts' revenue and EPS estimates.
VF Corp had the weakest performance against analyst estimates in the group. The stock is down 11% since the results and currently trades at $15.1.
Read our full analysis of VF Corp's results here.
Carter's (NYSE:CRI)
Rumored to sell more than 10 products for every child born in the United States, Carter's (NYSE:CRI) is an American designer and marketer of children's apparel.
Carter's reported revenues of $857.9 million, down 5.9% year on year, falling short of analyst expectations by 1.3%. It was a weaker quarter for the company, with underwhelming earnings and revenue guidance for the next quarter.
The stock is up 5% since the results and currently trades at $85.6.
Read our full, actionable report on Carter's here, it's free.
Hanesbrands (NYSE:HBI)
A classic American staple founded in 1901, Hanesbrands (NYSE: HBI) is a clothing company known for its array of basic apparel including innerwear and activewear.
Hanesbrands reported revenues of $1.30 billion, down 12% year on year, falling short of analyst expectations by 5%. It was a weak quarter for the company, with revenue guidance for next quarter missing analysts' expectations.
The stock is up 20% since the results and currently trades at $5.65.
Read our full, actionable report on Hanesbrands here, it's free.
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