Movado Group Inc. (NYSE:MOV) shares are trading lower after the company reported first-quarter results. The company reported quarterly earnings per share of 13 cents, beating the street view of 12 cents. Quarterly revenues of $136.669 million missed the analyst consensus of $145.200 million. Net sales decreased 5.7% (decreased 6.1% on a constant dollar basis), owing to declines in wholesale customers’ brick and mortar stores and Movado Company Stores. Movado generated a gross margin of 55.3% in the quarter under review, as compared to 56.6% in the year-ago period. The decrease ...