New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 4, 2013
08:02 EDTMOVMovado increases ownership interest in MGS Distribution to 90%
Movado Group has acquired from Swico Limited all but ten percent of the outstanding capital stock of MGS Distribution Limited, the UK company which, since 2007, has been operated as a joint venture between Movado Group and Swico responsible for the marketing, distribution and sale of Movado Group’s licensed brands in the UK. This increases the company’s ownership in MGS to 90% from 51%. Consequently, Movado Group and Swico have terminated their joint venture agreement and the company will manage MGS as a wholly owned subsidiary but with continued logistical support and after-sale service in the territory provided by Swico. The company also announced that MGS has acquired the Company’s 100% ownership interest in MGI Luxury Group UK Limited, a UK corporation, and that Luxury will transfer its business, including all of Luxury’s assets and liabilities, to MGS in 1Q14. As a result of the acquisition of Luxury by MGS, in 4Q13 the company will incur a one-time U.S. tax charge of approximately $800,000.
News For MOV From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
November 24, 2015
06:56 EDTMOVMovado sees FY16 EPS $2.00-$2.10, consensus $2.04
Subscribe for More Information
06:55 EDTMOVMovado reports Q3 EPS 92c, consensus 93c
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use