Movado Q3 E-Commerce Sales Via Retail Partners Grew 150%, Says CEO

COVID-19 forced Movado Group to pivot strongly toward online sales in Q3, said CEO Efraim Grinberg on a Tuesday investor call. Sales on the Movado.com online store more than doubled from the 2019 quarter, he said. The Movado brand “also had strong e-commerce results across our brick-and-mortar partners and marketplaces,” he said. Q3 sales in those channels grew by more than 150% from a year earlier, he said. “While we’re optimistic about how our brands will perform for the holiday season, we are cognizant of the resurgence of the coronavirus around many parts of the world, and recognize that this year’s holiday shopping will be very different than any we have ever seen.”