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Movado Q1 2026 Earnings Report
Movado Group, Inc. announced its first quarter fiscal 2026 results, with net sales decreasing by 1.9% and diluted EPS at $0.06.
Key Takeaways
Movado Group, Inc. reported a challenging first quarter for fiscal 2026, with net sales decreasing to $131.8 million and operating income at $0.3 million. Despite the difficult retail environment, the company focused on operational efficiency and saw strong performance from its licensed brand portfolio.
Net sales for Q1 fiscal 2026 were $131.8 million, a 1.9% decrease compared to $134.4 million in Q1 fiscal 2025.
Operating income was $0.3 million, including $0.6 million in cost-savings initiative expenses, down from $2.1 million in the prior year.
Diluted earnings per share (EPS) was $0.06, compared to $0.09 in the prior year period.
The Board approved a quarterly dividend payment of $0.35 per share, and the company ended the quarter with $203.1 million in cash and no debt.
Movado
Movado
Forward Guidance
Movado Group, Inc. has elected not to provide a fiscal 2026 outlook due to current economic uncertainty and unpredictable tariff impacts. However, the company plans to implement price increases to partially mitigate the effects of recent tariff changes.
Positive Outlook
- Optimistic about opportunities ahead with compelling innovation across the brand portfolio.
- Ended the quarter with a strong cash position of $203.1 million and no debt.
- Board approved a quarterly dividend payment, demonstrating confidence in financial health.
- Committed to delivering long-term profitable growth.
- Planning to take actions to partially mitigate tariff impacts through select price increases.
Challenges Ahead
- Anticipates continued market volatility in the second quarter.
- Current economic uncertainty impacts the ability to provide a fiscal 2026 outlook.
- Unpredictable impact of tariff developments on the Company's business.
- No specific financial guidance provided for fiscal 2026.
- Potential challenges from recent tariff changes requiring mitigation efforts.