Revenue Growth
Movado Group reported a revenue growth of 3.1% to $186.1 million, with growth excluding the Middle East at 5.9%.
Gross Margin Improvement
Gross margin improved by 80 basis points to 54.3% compared to 53.5% last year.
Operating Income Increase
Adjusted operating income grew more than 40% to $12.6 million.
Strong Cash Position
The company ended the quarter with $183.9 million in cash and no debt.
U.S. Market Growth
The United States market returned to 6.9% growth, with notable performance in fashion brand business and direct-to-consumer sales.
Successful Product Launches
The Museum Collection, Movado Heritage, and licensed brands like Coach and Hugo Boss saw strong performance and product innovations.