Movado Group reported second-quarter fiscal 2027 net sales of $169.8 million, up 4.9% from $161.8 million a year earlier, with adjusted earnings per share rising to $0.54 from $0.23, including a $0.11 per-share benefit from IEEPA duty refunds. Adjusted operating profit increased to $15.1 million from $7 million, and gross margin improved to 59.4% from 54.1%, or 57.5% excluding the refunds, a 340-basis-point gain. The company cited strength in the U.S., Latin America, India, and Europe, while the Middle East declined, and it ended the quarter with $211.6 million in cash and no debt. Movado also announced it will discontinue providing an annual outlook, but expects mid-single-digit top-line growth for the remainder of the fiscal year and second-half gross margin between 55% and 56%. CEO Efraim Grinberg highlighted strong consumer demand and the upcoming launch of Kate Spade watches next fiscal year under an expanded partnership with Tapestry.
Movado Group IncQ2 sales up 4.9%, adjusted EPS jumped to $0.54, and gross margin improved.
Tapestry IncUpcoming launch of Kate Spade watches under expanded partnership with Tapestry.
