Movado Group Enters Material Definitive Agreement
Ticker: MOVAA · Form: 8-K · Filed: Nov 15, 2024 · CIK: 72573
| Field | Detail |
|---|---|
| Company | Movado Group INC (MOVAA) |
| Form Type | 8-K |
| Filed Date | Nov 15, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, definitive-agreement
TL;DR
Movado Group just signed a big deal, details TBD.
AI Summary
Movado Group, Inc. entered into a Material Definitive Agreement on November 12, 2024. The filing does not disclose specific details of the agreement, such as the counterparty or the nature of the transaction, beyond its material definitive nature.
Why It Matters
This filing indicates a significant business transaction for Movado Group, Inc., the details of which will be crucial for investors to understand its potential impact on the company's future operations and financial performance.
Risk Assessment
Risk Level: medium — The lack of specific details in the filing regarding the Material Definitive Agreement introduces uncertainty and potential risk for investors.
Key Players & Entities
- MOVADO GROUP, INC. (company) — Registrant
- November 12, 2024 (date) — Date of earliest event reported
- 0000072573 (company) — Central Index Key
- 1-16497 (company) — Commission File Number
- 13-2595932 (company) — I.R.S. Employer Identification No.
- 650 FROM ROAD , SUITE 375 PARAMUS , NJ 07652-3556 (address) — Principal executive offices
- 201-267-8000 (phone_number) — Registrant's Telephone Number
FAQ
What is the nature of the Material Definitive Agreement entered into by Movado Group, Inc.?
The filing does not specify the nature of the Material Definitive Agreement beyond its classification as such.
Who is the counterparty to the Material Definitive Agreement?
The filing does not disclose the name of the other party involved in the Material Definitive Agreement.
What is the effective date of the Material Definitive Agreement?
The earliest event reported, which is the entry into the Material Definitive Agreement, occurred on November 12, 2024.
Are there any financial terms or dollar amounts associated with this agreement disclosed in the filing?
No specific financial terms or dollar amounts related to the Material Definitive Agreement are disclosed in this filing.
Does this filing provide any context or background for why Movado Group, Inc. entered into this agreement?
The filing states that it is a 'Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934' and reports the 'Entry into a Material Definitive Agreement' but does not provide further context or background.
Filing Stats: 505 words · 2 min read · ~2 pages · Grade level 11.7 · Accepted 2024-11-15 16:15:20
Key Financial Figures
- $0.01 — ch registered Common stock, par value $0.01 per share MOV New York Stock Exchan
Filing Documents
- eh240555997_8k.htm (8-K) — 25KB
- 0000950142-24-002790.txt ( ) — 194KB
- mov-20241112.xsd (EX-101.SCH) — 3KB
- mov-20241112_lab.xml (EX-101.LAB) — 33KB
- mov-20241112_pre.xml (EX-101.PRE) — 22KB
- eh240555997_8k_htm.xml (XML) — 4KB
01
Item 1.01 Entry into a Material Definitive Agreement. On November 12, 2024, Movado Group, Inc. ("MGI") and its wholly owned subsidiary, Swissam Products Limited ("SPL" and together with MGI, the "Company"), entered into a letter agreement (the "Extension Letter") pursuant to which the License Agreement between the Company and Tommy Hilfiger Licensing LLC ("THL") dated January 1, 2020 (the "Existing Agreement"), was extended for an additional five years ending December 31, 2029. The Extension Letter specifies minimum sales of licensed products and an incremental marketing budget during the extension period. The remaining provisions of the Existing Agreement remain unchanged. The Company intends to file the extension letter as an exhibit to its quarterly report on Form 10-Q for the fiscal quarter ending October 31, 2024, and will seek confidential treatment of certain terms in the letter at such time.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized. Dated: November 15, 2024 MOVADO GROUP, INC. By: /s/ Mitchell Sussis Name: Mitchell Sussis Title: Senior Vice President, General Counsel and Secretary