Movado Group Inc.
17.92-0.34 (-1.86%)
Oct 29, 4:00:02 PM EDT · NYSE · MOV · USD
Key Stats
Market Cap
396.71MP/E (TTM)
23.27Basic EPS (TTM)
0.77Dividend Yield
0.08%Recent Filings
8-K
Q2 sales up 3.1%
Movado Group reported Q2 fiscal 2026 net sales of $161.8 million, up 3.1% from $157.0 million last year, driven by licensed brands and international growth despite U.S. softness. Operating income rose to $4.0 million from $2.6 million, or $7.0 million adjusted, amid tariff pressures and forex hits that trimmed gross margins to 54.1%. The board declared a $0.35 quarterly dividend; cash stands at $180.5 million with no debt. Tariff uncertainty halts full-year outlook.
10-Q
Q2 FY2026 results
Movado Group posted Q2 FY2026 net sales of $161.8M, up 3.1% y/y from $157.0M, driven by licensed brands growth of 9.5% that offset a 7.2% drop in owned brands; gross margin slipped to 54.1% from 54.3% amid U.S. tariffs and forex headwinds, yet operating income climbed to $4.0M from $2.6M as cost-savings kicked in. YTD sales edged 0.8% higher to $293.6M, with operating income dipping to $4.3M from $4.8M; diluted EPS held at $0.20, reconciling to 22.5M weighted shares with no anti-dilution flagged. Cash balances fell to $180.5M after $11.0M operating outflow, mainly from inventory builds to counter tariffs, while $99.7M revolver availability underscores liquidity strength—no debt outstanding. Professional fees tied to the Dubai misconduct probe weighed on expenses, but severance from headcount cuts promises $10M annual savings. Tariffs pose the sharpest near-term risk, squeezing U.S. margins further.
8-K
Shareholders approve directors, auditors
Movado Group shareholders convened their 2025 annual meeting on June 18, electing all eight director nominees, including Peter A. Bridgman and Efraim Grinberg, with strong support averaging over 70 million votes for despite some withholdings. They ratified PricewaterhouseCoopers as auditors for fiscal 2025, garnering 75 million yes votes, and approved executive compensation on an advisory basis with 72 million in favor. All outcomes passed decisively. Yet governance scrutiny lingers from withheld votes on certain directors.
8-K
Q1 sales slip, costs trimmed
Movado Group reported first-quarter fiscal 2026 net sales of $131.8 million, down 1.9% from $134.4 million last year, amid a tough retail landscape. Operating income dipped to $0.3 million from $2.1 million, hit by $0.6 million in cost-savings charges, yet adjusted figures show $0.9 million and EPS of $0.08. Cash stands at $203.1 million with no debt. Board approved a $0.35 quarterly dividend. Tariffs loom large.
10-Q
Q1 FY2026 results
Movado Group's Q1 FY2026 net sales dipped 1.9% y/y to $131.8M, driven by a 17.0% drop in owned brands offset by 8.3% licensed brands growth, while Company Stores edged down 1.7%. Gross margin held steady at 54.1% despite FX headwinds and shipping costs, but SG&A rose 0.4% on volatile currencies and performance pay, squeezing operating income to $0.3M from $2.1M y/y. Diluted EPS fell to $0.06, aligning with 22.5M shares. Cash at $203.1M supports $99.7M revolver availability, with no debt drawn; free cash flow not disclosed in the 10-Q. A restatement for Dubai branch misconduct flagged internal control risks, yet cost-savings yield $10M annual run-rate.
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