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Jan 31
Movado Q4 2025 Earnings Report
Movado reported modest revenue growth and margin expansion in Q4 despite challenges in U.S. retail channels.
Key Takeaways
Movado achieved revenue growth and margin improvements in Q4 2025, driven by international wholesale and online sales, while U.S. brick-and-mortar retail performance lagged.
Revenue increased to $181.5M, up from $175.8M YoY
Adjusted EPS came in at $0.51, exceeding GAAP EPS of $0.36
Gross margin improved to 54.2% from 53.5% last year
International sales rose 8.8%, while U.S. sales declined 2.9%
Movado
Movado
Movado Revenue by Geographic Location
Revenue by Geographic Location
United States Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
Movado withheld full-year guidance for FY26 amid global retail and tariff uncertainties but plans cost control and pricing actions.
Positive Outlook
- Planned reduction in marketing spend by $15M–$20M
- Anticipated $10M in annualized savings from cost actions
- Strong balance sheet with $208.5M in cash and no debt
- Continued product innovation across watch and jewelry brands
- Ongoing focus on shareholder returns via dividends and repurchases
Challenges Ahead
- No formal FY26 outlook provided due to macro uncertainty
- Pressure from tariffs and foreign exchange volatility
- Decline in U.S. wholesale and company store performance
- Higher operating expenses driven by investigations and initiatives
- Global retail environment remains unpredictable
Revenue & Expenses
Visualization of income flow from segment revenue to net income