$摩凡陀(MOV)$
Paramus, NJ – November 25, 2025 -- Movado Group, Inc. (NYSE: MOV) today announced third quarter and nine-month results for the periods ended October 31, 2025.
Fiscal 2026 Third Quarter Highlights
·Net sales of $186.1 million, an increase of 3.1% from $180.5 million in the third quarter of fiscal 2025;·Gross margin of 54.3%, an expansion of 80 basis points compared to 53.5% in the third quarter of fiscal 2025;·Operating income of $11.7 million, nearly doubling from $6.0 million in the third quarter of 2025;·Adjusted operating income of $12.6 million;·Diluted earnings per share of $0.42, doubling from $0.21 in the third quarter of fiscal 2025;·Adjusted diluted earnings per share of $0.45; and·Ended the quarter with cash of $183.9 million and no debt.Efraim Grinberg, Chairman and Chief Executive Officer, stated, “We are pleased with our third quarter results, delivering a 3% increase in net sales, 80 basis points of expansion in gross margin and a doubling in diluted earnings per share versus the third quarter last year, even as we absorbed material tariff cost increases in the period. We capitalized on the accelerating interest in the fashion watch category among younger consumers, delivering innovative watch and jewelry assortments that were strongly received across our iconic brands, especially in Europe and the United States. We achieved double-digit growth for the Movado brand in our direct-to-consumer channels, while continuing to optimize the brand’s wholesale business, which we expect to return to growth in the fourth quarter.
We ended the quarter with $184 million in cash and no debt, providing a strong foundation to invest in growth initiatives and deliver value to our shareholders. We are pleased to report that our Board has approved a quarterly dividend of $0.35 per share.”
Mr. Grinberg continued, “As we look ahead, we are energized by the innovation we are bringing to this important holiday season and the compelling marketing programs we have implemented to support and elevate our brands. In addition, the recently announced framework trade agreement between the U.S. and Switzerland is expected to reduce our overall U.S. tariff rate on Swiss watches to 15%, which is roughly one-third the rate that the Company has been paying since August. This change, together with the continued dedication and focused execution of our global team, should continue to drive improving results and create new opportunities for growth in both sales and profitability.”
Non-GAAP Items (See attached table for GAAP and Non-GAAP measures)
Third quarter of fiscal 2026 results of operations included a $0.9 million pre-tax charge, or $0.7 million after tax, representing $0.03 per diluted share, in costs related to the internal investigation of conduct within the Company’s Dubai branch that resulted in the restatement of previously issued financial statements. For the first nine months of fiscal 2026, the pre-tax charge was $3.0 million, or $2.3 million after tax, representing $0.10 per diluted share.
First nine months of fiscal 2026 results of operations also included a $1.5 million pre-tax charge, or $1.1 million after tax, representing $0.05 per diluted share, associated with the establishment of a provision for a corporate cost-savings initiative.
Third quarter and first nine months of fiscal 2025 results of operations included a $2.7 million pre-tax charge, or $2.2 million after tax, representing $0.10 per diluted share, associated with the establishment of a provision for a corporate cost-savings initiative.
Third quarter and first nine months of fiscal 2025 results of operations included a $1.5 million after-tax charge, representing $0.06 per diluted share, associated with the tax impact of repatriation of foreign earnings, primarily related to foreign currency gains.
In this press release, references to “adjusted” results exclude the impact of the above charges. Please refer to the attached GAAP and Non-GAAP measures table for a detailed reconciliation of the Company’s reported results to its adjusted, non-GAAP results.