Q4 2021 Movado Group Inc Earnings Call
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Good day everyone and welcome to the Movado Group Inc, fourth quarter and fiscal year 2021 earnings conference call may be recorded and may not be reproduced in whole or in part without permission from from the company had this time. I was like to turn the call over to Rachel's everyone and welcome to the 4th. Thank you order and please, go ahead mm 21. Thank you. God be introduced executive office partner and tell us exactly.
Executive vice-president time. I was in a chief of like creating offer before we get started, I would like the language. Would you name it? She's paying in this executive a conference call after which Sally's you are not in Marcellus historic. Exact executive president is she's pumped operator looking for Life payments within the meaning of a virtual office the private sector security before we education will get started or Max of I would like to have 1995 view of the five companies Safe Harbor language. I'm sure you're familiar material isn't in this complex statement and call log.
If it's not, okay, thank you. Thank you Rachel. Good morning, and Welcome to our fourth quarter and year-end conference call his salary for calling Marcella's grading officer and chief executive officer officer of the first. Bear with you some highlights for the fourth quarter. Thank you. We just Rachel good food and water and veggies for the current year for the call with me today. Will then walk Sally talk to our friend Marcel a tangible results are in Greater detail page off. We would then be glad she loves then. I'm going to have some highlights for the fourth quarter. We just we're seeing reported improvements dead.
As in terms of well, as our COVID-19 plans team cases and strategy in the United States for the case current year. We're experiencing close Ally juice across. Well, then walk European detail on just a Latin America then answer any questions. You might hack. Oh god. Well, we're said his vaccinating inflation rate of increase in terms of cold around the world nineteen walk across our European Moss Market in the families. They continue to experience challenges personal debt in Latin America station Erica from this, especially these in Brazil and Mexico have a history on the world will couldn't be more proud turn to a volt.
Noon around the world will both are awaiting the family in the first that have experience and hopefully a personal only Penn Station and making our lives disease timer. I am very pleased having with our overall finish. I'll execute one of the most unusual given the chance tree. I could be more proud and I would like our teams like the World Bank this year and hopefully may be Twenty-One. I am very we made signal. He's with our American Pride overall and how we execute and result is the company or challenging job creating a new files prevent the future and I would like to personally thank you for the four themes for order all that. They can the full English this year here. Yep.
During fiscal expectations twenty twenty cents on bo1 the top we may end bottom line and how our sales for the execute as a Ford Company motor home and six positions well for that to a future 128.3 million for the $4 order and showed and the food is here ma'am. Our third decades water on both the our job as the operating and bottom-line profit fine to the fourth quarter sales for those 23.95 million dollars. I'm 6.6% 8 + 2.3 + 28 + 3186000 movement movement from this and higher third quarter in the nineteen point. Nine are just a million dollar operating profit for the Ford did in the fourth quarter worth quarter was two years twenty-three years ago wage.
29 million dollars million dollar profit last year was Thirty $2,718 6% on sale a movement of 560 hours and the next Point nineteen point nine million dollars in the bank on with cash for the year of 223. Operate point eight million profit million dollars was 30.7 of 20 million C 1.2 million sales others 500 our inventory stories. Are we finished with a very smart and strong bond of the quarter sheet increase with cash by two hundred two hundred twenty eight and twenty three point eight billion dollars the 4.9% offend 21 Club.
Our inventory this morning that margin for the dividend a quarter of a percent increase Ends by 220 beta to share this point our buyback program 54.99 could give it a birthday song for reinvestment and ended in a balanced evolve over our his ancestry morning that with the on board approved side of the panther quarterly demek Ki dividend. We knew we were twenty just have to add at a greater and reinvent the version to the sheriff. I've back down to be coming into the fact of Summer first name company that we evolved overcome a leader history in the digital Marketplace out of the past that we knew we will years ago would have to log
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And jewelry frothy that is still all categories for significance in growth that has potential. We're all significant growth very excited about the very that we will guided that we launching the Calvin Klein. We will be watches launching Calvin Klein trees and and jewelry calendar calendar eighty-two twenty twenty
cuz we look at our beds. We look at Brands. We've got Brands very pleased very pleased with how about your performance last year? And I meant they were seeing as we're seeing the answer as we enter physical physical only twenty two twenty twenty-two thousand a hundred, business and percent in the 410 quarter 10% driven by the position of motor new customer driven by the acquisition launch edition of new age Bato SE consumers action, the law of the growth of of the Mubarak jewelry collection collection continued growth man of our jewelry collection of Baldwin off and continued them in our home an oil channels Movado also continued continued to see our wholesale.
Holidays important holidays in a season so far far we have come so far. We didn't use strong continues to see strong Tucson moment these strong women are meant them in our hours during stores in the back during the week of the year getting of the Year. Our license are like brand placements transform very performed. Well very well considering the numerous clubs the new measures in yours closures our lot in Europe are just the largest and region and Latin America and Latin American market and important for our life market for arms Brands license. L shifted the sales to the third party 5230 digital channels and digital channel Marketplace and Marcus's places. In fact, we saw it in a 2% less than 1/10 decline percent in our lives Klein in our loose brands for license for the for the quarter.
Movement we also strong contingent e-com used first as as well and you decease sequential influential Improvement provement in overall with short form a brick-and-mortar. He, this is Lang L A sequential cited about our to Improvement in you'd roll out of our overall reflection or minimum wage, which we will brick-and-mortar which will be supported by television a business trained sizing. We are exciting May invited about our June continued role support of out of our Thursday Thursday Thursday and The Graduate we didn't gift give it to a piece of the Season ported by television with advertising long performance package. You say Thursday. I did about attend the graduation and gave us back for this giving season.
Met Hilfiger in Tommy Hill continued strong demand for our watches and I met him and then for him Liberty and liberty for her for her. We also we also need to see continued strong strong line performed on line off of our Tommy Hilfiger jewelry. Ami Hilfiger Collection jewelry collector both Man action for both men and women for the spring. We are featuring the new Parker.
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