Movado (MOV) released earnings and delighted the street. The main factor seems to be an increase in margins resulting from favorable shifts in product mix. Shareholders have rewarded themselves by increasing the share valuation by approximately 14%. The rich get richer. Merry Christmas to all.

The company also announced a share buy back plan. Given the amount of cash on hand and reducing debt levels they can probably get away with it. No plans to increase the dividend were mentioned. Given the anemic 1% yield, this is disappointing. The dividend was increased last March by 33% in a time when guidance estimates where being reduced and caution flags were flying.

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