Movado Reports Q2 Earnings with Sales Growth and Improved Profitability
Movado Group (MOV) reported second-quarter fiscal year 2027 results showing strong performance despite ongoing global challenges. The company achieved a sales increase of $169.8 million, up 4.9% compared to the same period last year. Adjusted operating profit rose significantly from $7 million in Q2 2026 to $15.1 million this quarter, partly due to IEEPA duty refunds totaling $3.2 million received during the reporting period. Adjusted earnings per share (EPS) increased to $0.54 compared to $0.23 last year, with an additional $0.11 attributed directly to the IEEPA refunds. CEO Efraim Grinberg highlighted continued momentum in consumer demand and progress on strategic priorities focused on innovation, customer engagement, digital storytelling, and profitability improvement. The company noted strong sales growth across both U.S. markets and key international regions including Latin America and India.
Tickers: $MOV