Movado reports Q2 adjusted EPS 23c vs. 16c last year

Reports Q2 revenue $161.8M vs. $157.0M last year. CEO Efraim Grinberg stated, “We are pleased with our Q2 results, which were highlighted by increased net sales, a healthy gross margin despite tariff impacts, and a significant increase in operating income year over year. Our growth in a challenging environment reflects the power of our iconic portfolio of watch and jewelry brands, our compelling innovation, and the discipline with which we execute. International markets led our performance, driven by our licensed brands, with particular strength in our women’s watch collections and men’s jewelry. We also experienced growth in our global digital business. We concluded the quarter with $180.5M in cash and no debt, positioning us well to invest in our growth initiatives and continue to return value to shareholders. We are also pleased to announce that our Board declared a quarterly dividend payment of 35c per share. As we look ahead, we remain excited about our opportunities, yet cognizant that the environment remains dynamic and that tariff uncertainty continues. As such, we will continue to focus on areas within our control while introducing sought-after watch and jewelry offerings around the world. We remain confident in our strategy and our ability to generate long-term profitable growth and value creation for our shareholders.”