March 20 (Reuters) - Movado Group Inc
* Movado group, inc. Announces fourth quarter and fiscal year 2017 results
* Sees fy 2018 earnings per share $1.40 to $1.55
* Q4 earnings per share $0.22
* Sees fy 2018 sales $515 million to $530 million
* Q4 sales $130.8 million versus i/b/e/s view $137.1 million
* Q4 earnings per share view $0.23 -- Thomson Reuters I/B/E/S
* Movado Group Inc - company recorded no unusual items during q4 of fiscal 2017
* Movado Group Inc - "looking at fiscal 2018, we anticipate retail environment will remain difficult"
* Movado Group Inc - "implementing a number of cost savings initiatives to better align its global infrastructure with current business environment"
* Movado Group Inc - company expects to realize approximately $12.0 million of savings in fiscal 2018
* Movado Group Inc - estimates approximately $15.0 million in on-going annual pre-tax savings from cost saving initiatives in fiscal 2018
* Movado Group Inc- expects to record a pre-tax charge in connection with completion of initiatives in a range of about$7-$10 million, predominantly in q1
* Movado Group Inc - "taking a more conservative view for fiscal 2018 compared to fiscal 2017"
* Fy2018 earnings per share view $1.74 -- Thomson Reuters I/B/E/S
* Movado Group Inc - during q4 of fiscal 2017, company repurchased approximately 20,000 shares under its share repurchase program
* Movado group-consolidating certain operations and shifting a greater portion of investment into continued development and growth of digital footprint
* Fy2018 earnings per share view $1.74, revenue view $581.5 million -- Thomson Reuters I/B/E/S Source text for Eikon: Further company coverage: