MOVADO GROUP, INC. (NYSE:MOV) Files An 8-K Entry into a Material Definitive AgreementItem 1.01.
On October 24, 2017, Movado Group, Inc. (the “Company”) entered into an amendment (the “Thirteenth Amendment”) to its lease agreement dated December 21, 2000 (as previously amended, the “Lease”) with Mack-Cali Realty L.P. (“Lessor”) to which the Company leases its corporate headquarters from Lessor at 650 From Road, Paramus, New Jersey. The Thirteenth Amendment extends the term of the Lease through June 30, 2030, and provides the Company with an option to renew the term of the Lease for one additional extension period of five years through June 30, 2035.
The Company intends to file the Thirteenth Amendment as an exhibit to its next periodic report.
About MOVADO GROUP, INC. (NYSE:MOV)
Movado Group, Inc. designs, sources, markets and distributes watches. The Company operates through two segments: Wholesale and Retail. The Wholesale segment includes the design, development, sourcing, marketing and distribution of watches, and after-sales service activities and shipping. It sells all of its brands to jewelry store chains, department stores and independent jewelers. The Retail segment includes its retail outlet stores. The Company’s subsidiary, Movado Retail Group, Inc., operates approximately 40 outlet stores located in outlet centers across the United States. The Company divides its business into two geographic locations: the United States and International. It has international operations in Europe, the Americas (excluding the United States), the Middle East and Asia. Its portfolio of brands includes Coach Watches, Concord, Ebel, ESQ Movado, Scuderia Ferrari Watches, HUGO BOSS Watches, Juicy Couture Watches, Lacoste Watches, Movado and Tommy Hilfiger Watches.
