Net sales for fiscal year 2008 at Movado Group Inc. increased 5 percent to $559.6 million, compared with fiscal year 2007, the company announced. This included $31.2 million of excess discontinued product sales and a one-time accrual of a $15 million for product returns associated with the company's previously announced closing of approximately 1,400 wholesale doors selling the Movado brand in the United States.

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