10-Q · May 27, 2026
Movado Group, Inc. reported Q1 fiscal 2027 results, showcasing strong growth with net sales reaching $142.4 million, a significant increase of $10.6 million or 8.1% year-over-year. The company exceeded EPS estimates…
Earnings analysis · 10-Q
MOV earnings analysis
Filed August 26, 2026 · Our reading of the company's report
The latest report
Movado reported a strong quarter, with revenue of $169.8 million and diluted EPS of $0.53, while gross margin reached 59.4% versus 54.1% a year earlier. The company ended the period with $211.6 million of cash and no…
Read full summary
Movado reported a strong quarter, with revenue of $169.8 million and diluted EPS of $0.53, while gross margin reached 59.4% versus 54.1% a year earlier. The company ended the period with $211.6 million of cash and no debt, but margin benefited partly from a $3.2 million duty refund. Sentiment remains neutral because management withdrew its fiscal 2027 annual outlook, although it expects second-half topline growth in the mid-single-digit range and gross margin of 55% to 56%.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.53
- Gross margin
- 59.4%
What stood out
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Revenue beat and improved sequentially
Revenue was $169.8 million, up from $162.0 million in the prior-year quarter and $142.0 million in the immediately preceding quarter, increases of approximately 4.8% and 19.6%, respectively.
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EPS materially exceeded estimates
Diluted EPS was $0.53 versus consensus of $0.35, and increased from $0.13 in the prior-year quarter and $0.30 in the preceding quarter.
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Gross margin expanded sharply
Gross margin reached 59.4%, versus 54.1% in the prior-year quarter and 57.3% in the preceding quarter. The filing-related earnings update attributed part of the margin benefit to a $3.2 million IEEPA duty refund.
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Cash-rich, debt-free balance sheet
The company ended the quarter with $211.6 million of cash and no debt, supporting balance-sheet flexibility.
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Minimal interest-rate exposure
The company had no floating-rate debt at July 31, 2026 and reported zero weighted-average borrowings during the six months ended July 31, 2026.
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Second-half outlook remains positive
Management expects second-half topline growth in the mid-single-digit range and gross margin of 55% to 56%, excluding additional IEEPA duty refunds.
What to watch
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Annual outlook withdrawn
The company discontinued its fiscal 2027 annual outlook, reducing visibility despite expected second-half mid-single-digit topline growth and 55% to 56% gross margin.
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Duty refund benefit may not recur
The reported 59.4% gross margin benefited partly from a $3.2 million IEEPA duty refund; management's second-half margin outlook excludes additional refunds, creating potential margin normalization risk.
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SEC restatement inquiry remains open
The company received a voluntary SEC Division of Enforcement request on April 28, 2025 for documents and information relating to its fiscal 2025 restatement and continues to cooperate with the SEC.
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Unhedged gold cost exposure
The company held no gold futures in its hedge portfolio as of July 31, 2026, so changes in gold purchase prices have an equal effect on cost of sales.
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Foreign-exchange volatility
The company reported a $0.1 million loss if its Swiss Franc forward contracts were settled at July 31, 2026; its Euro forwards would have produced a $0.1 million gain.
Management's outlook
The company discontinued its fiscal 2027 annual outlook. For the second half, management expects topline growth in the mid-single-digit range and gross margin of 55% to 56%, excluding additional IEEPA duty refunds.
Earlier filings 4
10-K · March 19, 2026
Movado’s 10-K shows a clear operational recovery with fiscal Q4 revenue of $191.58 million and EPS of $0.57, both above consensus, and a return to positive free cash flow ($56.0 million in Q4). Management completed…
10-Q · November 25, 2025
Movado reported three-month net sales of $186,132,000 and diluted EPS of $0.42 for the quarter ended October 31, 2025. Revenue and profitability improved year-over-year (net sales +$5.6M, operating income +$5.7M) while…
10-Q · May 29, 2025
Movado reported Q1 (three months ended April 30, 2025) net sales of $131.8M, down $2.61M (≈1.9%) versus the restated prior-year quarter. Profitability compressed sharply: operating income fell to $0.3M from $2.1M and…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.