PARAMUS, NJ-In an effort to streamline its business, locallybased Movado Retail Group will close its retail boutique divisionand focus on its wholesale model, the company announced along withits first-quarter fiscal 2011 results yesterday.

The stores, scheduled to close by June 30, include New Jerseylocations at the Pier Shop at Caesars in Atlantic City, the Shopsat Riverside in Hackensack and the Mall at Short Hills. The companywill continue to operate its flagship at Rockefeller Center in NewYork as well as its 31 outlet stores. The company said it doesn'tintend to run any store closing or liquidation sales, a move toprotect its brand name.

The move is one that Movado is taking to improve its overallprofitability, redirecting investment toward what it believes arehigher-return businesses. The company said it expects to increaseits market share by expanding relationships with existingwholesaler customers and by enhancing its relationships withindependent retailers.