Movado Group Earnings Call Transcripts
Fiscal Year 2027
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First quarter sales grew 8.1% year-over-year, with strong U.S. and direct-to-consumer momentum, driving gross margin up 320 basis points and net income to $7.3 million. No full-year guidance was issued due to ongoing geopolitical uncertainty.
Fiscal Year 2026
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The meeting was held online, with a quorum established and all formal proposals approved, including director elections, auditor ratification, and executive compensation. No shareholder questions were submitted during the session.
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Revenue grew 2.7% to $671.3M and adjusted operating income rose 28.7% in fiscal 2026, driven by strong U.S. and e-commerce performance. Gross margin remained stable despite tariff pressures, and the company ended the year with $230M in cash and no debt.
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Q3 saw 3.1% revenue growth, improved gross margin, and a 43.5% rise in operating income. U.S. sales led growth, while international results were mixed. No fiscal 2026 outlook was provided due to economic and tariff uncertainties.
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Sales grew 3% to $161.8M and adjusted operating profit more than doubled, despite tariff headwinds. Licensed brands and international markets drove growth, while inventory was increased to mitigate new U.S. tariffs on Swiss imports.
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First quarter sales declined 1.9% year-over-year to $131.8 million, with adjusted EPS at $0.08 and strong licensed brand growth offsetting softness in owned brands. No fiscal 2026 outlook was provided due to macroeconomic and tariff uncertainties.
Fiscal Year 2025
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Fiscal 2025 saw a 1.7% sales decline and lower net income, but Q4 showed sales and profit growth. The company addressed Dubai office irregularities, restructured for cost savings, and is navigating tariff and economic uncertainty with no FY26 outlook provided.
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Q3 sales and earnings declined year-over-year amid a challenging retail environment, but strong online and international growth, new product launches, and cost-saving initiatives position the company for improved profitability next year. A new $50 million share buyback was authorized.
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Q2 net sales were nearly flat year-over-year, with operating profit down due to higher marketing spend. Guidance for FY25 was updated to $665–$675 million in sales and $0.90–$1.00 EPS, reflecting a challenging retail environment but confidence in brand investments.