Group 1 - The decision was made to upgrade Movado Group, Inc. from a Hold to a soft Buy due to a decline in stock price prior to the upgrade [1] - The focus of Crude Value Insights is on cash flow and companies that generate it, highlighting value and growth prospects in the oil and natural gas sector [1] Group 2 - Subscribers have access to a 50+ stock model account and in-depth cash flow analyses of exploration and production firms [2] - A live chat discussion of the sector is available for subscribers, enhancing community engagement [2] - A two-week free trial is offered to new subscribers, promoting engagement with the oil and gas sector [3]

MOVE Logistics Group (MOV) H2 2025 Earnings Call August 28, 2025 07:00 PM ET Company ParticipantsPaul Millward - CEOLee Banks - CFONone - ExecutiveOperatorI would now like to hand the conference over to Mr. Paul Millward, CEO. Please go ahead.Paul MillwardGood morning, everyone. Thanks for joining us today. Before we start, I just want to acknowledge the tragic loss of one of our drivers in an incident two weeks ago. Whilst the findings haven't been formally released, the family has shared that it was a med ...

Financial Data and Key Metrics Changes - The company reported a significant improvement in normalized earnings before tax, which increased by 61% year on year, marking the strongest quarterly normalized EBT result in two years [5][19] - Gross margin percentage improved by 4.1 percentage points, with gross margin dollars up 13.4%, indicating effective cost management and efficiency programs [6][18] - The net loss after tax reduced by $32.5 million to $15.6 million, showing consistent improvement throughout the year [17] Business Line Data and Key Metrics Changes - The freight and fuel business experienced a turnaround, with normalized earnings loss improving by 90% year on year, moving to a positive result in Q4 FY '25 [11] - Warehousing faced ongoing challenges due to increased industry capacity and aggressive pricing tactics, leading to a need for a reset in the business [12][13] - The specialist business performed well, particularly in infrastructure projects, with a healthy pipeline for the next two years [14] Market Data and Key Metrics Changes - The trading environment in FY '25 was challenging due to ongoing economic headwinds, low business and consumer confidence, and cost of living pressures [8] - Increased competitor activity and aggressive pricing were noted, particularly in the warehousing sector, leading to a glut in capacity [9][12] - Despite these challenges, there are signs of improving sentiment among partners, indicating potential recovery [10] Company Strategy and Development Direction - The company is focused on transitioning from cost reduction to value creation as part of its Accelerate transformation program, which has one year remaining [6][22] - The New Horizons roadmap aims to establish the company as the preferred logistics provider in New Zealand by FY '28 [21] - Priorities include improving performance in warehousing, enhancing customer retention, and investing in technology for data-driven decisions [22][23] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the uncertainty in the timing and speed of economic recovery but expressed confidence in the company's positioning and readiness for growth [23][24] - The focus on gross margin improvements is expected to provide a stronger foundation for future earnings growth [24] - Management is optimistic about returning to positive normalized EBT in FY '26 [24] Other Important Information - The company has established a new funding partnership and extended its bank facility through August 2026, ensuring adequate capital for operations and growth [19][20] - A significant reduction in operating expenses of $27 million was achieved, with labor savings of approximately $15 million [17][18] Q&A Session Summary Question: Will there be any months in FY '26 with positive net profit after tax? - Management could not specify exact months but indicated a clear plan and forecast, noting that the freight and logistics sector typically ramps up after slower months [25] Question: Is a capital raise likely given the erosion of equity and uncertain net profit? - Management stated that while they expect positive EBT, they are focused on ensuring adequate capital for business operations and growth [26][27] Question: What is the EBT range guidance for the coming year? - Management refrained from providing specific guidance due to economic uncertainty but confirmed a return to positive EBT in FY '26 [28] Question: Can management provide clarity on core freight revenue and margin after the realignment of fuel services? - Management declined to share specific details on core freight results, citing confidentiality regarding customer data [29][30]

MOVE LOGISTICS GROUP LIMITED FY25 RESULTS Paul Millward, Chief Executive Officer Lee Banks, Chief Financial Officer 29 August 2025 MOV and its related companies and their respective directors, employees and representatives make no representation or warranty of any nature (including as to accuracy or completeness) in respect of this presentation and will have no liability (including for negligence) for any errors in or omissions from, or for any loss (whether foreseeable or not) arising in connection with th ...

Core Viewpoint - Movado Group is conducting its second quarter fiscal 2026 earnings call, indicating a focus on financial performance and strategic direction for the upcoming period [1]. Group 1: Company Leadership - The call features key company participants including Efraim Grinberg, Chairman and CEO, and Sallie A. DeMarsilis, Executive VP and CFO, highlighting the leadership's involvement in discussing financial results [2][5]. Group 2: Forward-Looking Statements - The company emphasizes that statements made during the call may be forward-looking and are subject to risks and uncertainties, as outlined in their SEC filings [3][4].

[Filing Information](index=1&type=section&id=Filing%20Information) Key filing details for MOVADO GROUP, INC.'s Form 10-Q for the quarter ended July 31, 2025 - Registrant: **MOVADO GROUP, INC.**[2](index=2&type=chunk) - Filing Type: **Quarterly Report on Form 10-Q** for the period ended July 31, 2025[2](index=2&type=chunk) Securities Registered | Title of each class | Symbol(s) | Name of each exchange on which registered | | :------------------ | :-------- | :---------------------------------------- | | Common Stock, par value $0.01 per share | MOV | New York Stock Exchange | - Filer Status: **Accelerated filer**[5](index=5&type=chunk) - Shares Outstanding (August 22, 2025): **Common Stock: 15,682,096**; **Class A Common Stock: 6,455,602**[5](index=5&type=chunk) [Part I – Financial Information (Unaudited)](index=3&type=section&id=Part%20I%20%E2%80%93%20Financial%20Information%20(Unaudited)) This part presents the unaudited consolidated financial statements and management's analysis of performance [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) Presents the unaudited consolidated financial statements and accompanying notes for the reporting period [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) Details the company's assets, liabilities, and equity as of July 31, 2025 Key Balance Sheet Data (in thousands) | Metric | July 31, 2025 | January 31, 2025 | July 31, 2024 (As Restated) | | :-------------------------- | :------------ | :--------------- | :-------------------------- | | Cash and cash equivalents | $180,493 | $208,501 | $198,251 | | Inventories | $211,504 | $156,738 | $183,160 | | Total current assets | $516,191 | $489,941 | $507,232 | | Total assets | $748,719 | $729,231 | $742,480 | | Total current liabilities | $131,424 | $112,960 | $114,390 | | Total liabilities | $256,484 | $245,652 | $248,068 | | Total equity | $492,235 | $483,579 | $494,412 | - Total assets increased by **$19.5 million** from January 31, 2025 ($729.2 million) to July 31, 2025 ($748.7 million)[10](index=10&type=chunk) - Inventories increased significantly from **$156.7 million** at January 31, 2025, to **$211.5 million** at July 31, 2025, a **35% increase**[10](index=10&type=chunk) [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) Summarizes revenues, expenses, and profits over the three and six-month periods ended July 31, 2025 Key Income Statement Data (in thousands, except per share) | Metric | 3 Months Ended July 31, 2025 | 3 Months Ended July 31, 2024 (As Restated) | 6 Months Ended July 31, 2025 | 6 Months Ended July 31, 2024 (As Restated) | | :---------------------------------------- | :--------------------------- | :----------------------------------------- | :--------------------------- | :----------------------------------------- | | Net sales | $161,829 | $157,000 | $293,598 | $291,379 | | Gross profit | $87,565 | $85,252 | $158,915 | $158,172 | | Operating income | $4,007 | $2,642 | $4,298 | $4,760 | | Net income attributable to Movado Group, Inc. | $2,986 | $3,469 | $4,406 | $5,484 | | Diluted EPS | $0.13 | $0.15 | $0.20 | $0.24 | - Net sales for the three months ended July 31, 2025, increased by **$4.8 million (3.1%)** year-over-year[12](index=12&type=chunk) - Net income attributable to Movado Group, Inc. decreased by **$0.483 million (13.9%)** for the three months ended July 31, 2025, compared to the prior year[12](index=12&type=chunk) [Consolidated Statements of Comprehensive Income (Loss)](index=6&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)) Reports changes in equity from non-owner sources, including net income and other comprehensive income Key Comprehensive Income Data (in thousands) | Metric | 3 Months Ended July 31, 2025 | 3 Months Ended July 31, 2024 (As Restated) | 6 Months Ended July 31, 2025 | 6 Months Ended July 31, 2024 (As Restated) | | :------------------------------------------------ | :--------------------------- | :----------------------------------------- | :--------------------------- | :----------------------------------------- | | Net income | $3,138 | $3,566 | $4,418 | $5,705 | | Foreign currency translation adjustments | $1,725 | $5,782 | $20,321 | ($4,549) | | Total other comprehensive income/(loss), net of taxes | $2,006 | $5,721 | $19,518 | ($4,533) | | Total comprehensive income attributable to Movado Group, Inc. | $4,994 | $9,179 | $23,864 | $963 | - Foreign currency translation adjustments significantly contributed to other comprehensive income, showing a gain of **$20.3 million** for the six months ended July 31, 2025, compared to a loss of **$4.5 million** in the prior year[14](index=14&type=chunk) - Total comprehensive income attributable to Movado Group, Inc. increased from **$0.963 million** to **$23.864 million** for the six months ended July 31, 2025, year-over-year[14](index=14&type=chunk) [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Details the cash inflows and outflows from operating, investing, and financing activities Key Cash Flow Data (in thousands) | Metric | 6 Months Ended July 31, 2025 | 6 Months Ended July 31, 2024 (As Restated) | | :------------------------------------------------ | :--------------------------- | :----------------------------------------- | | Net cash used in operating activities | ($11,016) | ($35,910) | | Net cash used in investing activities | ($4,754) | ($8,305) | | Net cash used in financing activities | ($17,618) | ($17,708) | | Effect of exchange rate changes on cash | $5,467 | ($1,900) | | Net decrease in cash, cash equivalents and restricted cash | ($27,921) | ($63,823) | | Cash, cash equivalents, and restricted cash at end of period | $181,293 | $198,991 | - Cash used in operating activities decreased from **$35.9 million** in 2024 to **$11.0 million** in 2025, primarily due to changes in inventories and accrued liabilities[16](index=16&type=chunk)[165](index=165&type=chunk) - The company paid **$15.6 million** in dividends and repurchased **$1.6 million** in stock during the six months ended July 31, 2025[16](index=16&type=chunk)[169](index=169&type=chunk) [Notes to Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Provides detailed explanations of the accounting policies and figures presented in the financial statements [Basis of Presentation](index=8&type=section&id=NOTE%201%20%E2%80%93%20BASIS%20OF%20PRESENTATION) Outlines the accounting principles and standards used in preparing the financial statements - Interim unaudited Consolidated Financial Statements prepared consistent with annual audited statements, in accordance with **GAAP**[18](index=18&type=chunk) - Management's estimates and assumptions affect reported amounts; **actual results may differ**[18](index=18&type=chunk) [Restatement of Previously Issued Consolidated Financial Statements](index=8&type=section&id=NOTE%201A%20%E2%80%93%20RESTATEMENT%20OF%20PREVIOUSLY%20ISSUED%20CONSOLIDATED%20FINANCIAL%20STATEMENTS) Details the reasons for and impacts of restating prior-period financial statements due to misconduct - Restatement due to **misconduct in the Dubai branch** involving overstated sales, premature revenue recognition, and underreported credit notes[19](index=19&type=chunk) - Misconduct occurred over approximately **five years**, starting in fiscal year 2021, and included using a third-party warehouse and falsifying documents[19](index=19&type=chunk) - The restatement impacted historical consolidated financial statements for fiscal years **2024 and 2023**, and interim periods within fiscal years **2025 and 2024**[20](index=20&type=chunk) - The misstatements **did not impact the Company's cash flows** or compliance with debt covenants[20](index=20&type=chunk) - The **SEC Division of Enforcement** requested documents related to the restatement on April 28, 2025, and the Company is cooperating[22](index=22&type=chunk) Impact of Restatement on Net Sales (in thousands) | Period | As Previously Reported | Adjustment | As Restated | | :--------------------------------- | :--------------------- | :--------- | :---------- | | 3 Months Ended July 31, 2024 | $159,313 | ($2,313) | $157,000 | | 6 Months Ended July 31, 2024 | $295,982 | ($4,603) | $291,379 | Impact of Restatement on Net Income Attributable to Movado Group, Inc. (in thousands) | Period | As Previously Reported | Adjustment | As Restated | | :--------------------------------- | :--------------------- | :--------- | :---------- | | 3 Months Ended July 31, 2024 | $3,721 | ($252) | $3,469 | | 6 Months Ended July 31, 2024 | $6,612 | ($1,128) | $5,484 | [Recent Accounting Pronouncements](index=14&type=section&id=NOTE%202%20%E2%80%93%20RECENT%20ACCOUNTING%20PRONOUNCEMENTS) Discusses recently issued accounting standards and their potential impact on the company's financials - ASU 2023-09 'Improvements to Income Tax Disclosures' effective for fiscal years beginning after December 15, 2024; Company is evaluating impact[36](index=36&type=chunk) - ASU 2024-03 'Disaggregation of Income Statement Expenses' effective for annual periods beginning after December 15, 2026; Company is evaluating impact[37](index=37&type=chunk) - ASU 2025-05 'Measurement of Credit Losses for Accounts Receivable and Contract Assets (Topic 326)' effective for annual periods beginning after December 15, 2025; Company is evaluating impact[38](index=38&type=chunk)[39](index=39&type=chunk) [Cost-Savings Initiative](index=15&type=section&id=NOTE%203%20%E2%80%93%20COST-SAVINGS%20INITIATIVE) Describes a plan to reduce operating expenses through headcount reductions - Company committed to a cost-savings initiative in fiscal year 2025 to reduce operating expenses through **headcount reductions**[40](index=40&type=chunk) - Recorded **$0.9 million** and **$1.5 million** in severance and employee-related charges for the three and six months ended July 31, 2025, respectively[41](index=41&type=chunk) - Expects remaining severance and employee-related expenses to be paid during the remainder of **fiscal year 2026**[42](index=42&type=chunk) [Earnings Per Share and Cash Dividends](index=15&type=section&id=NOTE%204%20%E2%80%93%20EARNINGS%20PER%20SHARE%20AND%20CASH%20DIVIDENDS) Provides data on earnings per share calculations and dividends paid to shareholders Weighted Average Shares Outstanding (in thousands) | Metric | 3 Months Ended July 31, 2025 | 3 Months Ended July 31, 2024 | 6 Months Ended July 31, 2025 | 6 Months Ended July 31, 2024 | | :----- | :--------------------------- | :--------------------------- | :--------------------------- | :--------------------------- | | Basic | 22,286 | 22,303 | 22,276 | 22,278 | | Diluted | 22,571 | 22,658 | 22,479 | 22,665 | - Declared and paid two cash dividends of **$0.35 per share** each, totaling **$15.6 million** for the six months ended July 31, 2025[45](index=45&type=chunk) [Inventories](index=16&type=section&id=NOTE%205%20%E2%80%93%20INVENTORIES) Details the composition of the company's inventory, including finished goods and component parts Inventories (in thousands) | Category | July 31, 2025 | January 31, 2025 | July 31, 2024 (As Restated) | | :-------------- | :------------ | :--------------- | :-------------------------- | | Finished goods | $179,038 | $129,204 | $152,182 | | Component parts | $28,871 | $23,905 | $27,573 | | Work-in-process | $3,595 | $3,629 | $3,405 | | Total Inventories | $211,504 | $156,738 | $183,160 | - Total inventories increased by **$54.8 million (35%)** from January 31, 2025, to July 31, 2025, primarily in finished goods[46](index=46&type=chunk) [Debt and Lines of Credit](index=16&type=section&id=NOTE%206%20%E2%80%93%20DEBT%20AND%20LINES%20OF%20CREDIT) Summarizes the company's credit facilities and outstanding debt obligations - Company has a **$100.0 million** senior secured revolving credit facility maturing October 28, 2026[47](index=47&type=chunk) - **No amounts outstanding** under the facility as of July 31, 2025, and July 31, 2024; availability was **$99.7 million**[49](index=49&type=chunk) - Swiss subsidiary maintains unsecured lines of credit totaling **6.5 million Swiss Francs** ($8.0 million equivalent at July 31, 2025), with no borrowings[51](index=51&type=chunk) [Derivative Financial Instruments](index=17&type=section&id=NOTE%207%20%E2%80%93%20DERIVATIVE%20FINANCIAL%20INSTRUMENTS) Explains the use of derivatives, such as forward contracts, to manage foreign currency risk - Company uses **foreign currency forward contracts** to reduce effects of fluctuating foreign currency exchange rates, including cash flow hedges and non-designated hedges[53](index=53&type=chunk) - Net deferred gains on cash flow hedges were **($0.8) million** at July 31, 2025, compared to $0 at January 31, 2025, and $15,000 at July 31, 2024[54](index=54&type=chunk) - Reclassified **($0.7) million** and **($0.8) million** from accumulated other comprehensive income/(loss) to Net sales for the three and six months ended July 31, 2025, respectively[54](index=54&type=chunk) [Fair Value Measurements](index=18&type=section&id=NOTE%208%20%E2%80%93%20FAIR%20VALUE%20MEASUREMENTS) Discloses the fair value of financial assets and liabilities based on a three-level hierarchy - Fair value hierarchy categorizes assets/liabilities into **Level 1** (quoted prices), **Level 2** (observable inputs), and **Level 3** (unobservable inputs)[56](index=56&type=chunk)[58](index=58&type=chunk) Total Assets Measured at Fair Value (in thousands) | Date | Level 1 | Level 2 | Level 3 | Total | | :--------------- | :------- | :------ | :------- | :------- | | July 31, 2025 | $54,564 | $113 | $35,616 | $90,293 | | January 31, 2025 | $54,496 | $13 | $34,313 | $88,822 | | July 31, 2024 | $53,593 | $409 | $34,109 | $88,111 | - Defined benefit plan assets are classified as **Level 3 assets**, totaling **$35.6 million** at July 31, 2025[57](index=57&type=chunk)[60](index=60&type=chunk) - Recorded a non-cash impairment charge of **$0.4 million** for the three months ended July 31, 2025, related to an investment in a venture capital fund[62](index=62&type=chunk) [Commitments and Contingencies](index=19&type=section&id=NOTE%209%20%E2%80%93%20COMMITMENTS%20AND%20CONTINGENCIES) Outlines future obligations under contracts and potential liabilities from legal matters - Company has minimum commitments related to license agreements, endorsement agreements, and service agreements, including minimum annual royalty and advertising amounts[63](index=63&type=chunk) - U.S. Customs and Border Protection (CBP) audit in 2016 challenged the company's watch component cost allocation methodology, potentially implying **$5.1 million** of underpaid duties, though the statute of limitations has lapsed for the audit period[65](index=65&type=chunk) - Company is involved in ordinary course legal proceedings and claims, with reserves recorded for probable and estimable losses; **no material effect** on financial condition or cash flows expected beyond accrued amounts[66](index=66&type=chunk) [Income Taxes](index=21&type=section&id=NOTE%2010%20%E2%80%93%20INCOME%20TAXES) Details the provision for income taxes and factors affecting the effective tax rate Income Tax Provision and Effective Tax Rate | Period | Income Tax Provision (in thousands) | Effective Tax Rate | | :--------------------------------- | :---------------------------------- | :----------------- | | 3 Months Ended July 31, 2025 | $1,961 | 38.5% | | 3 Months Ended July 31, 2024 | $843 | 19.1% | | 6 Months Ended July 31, 2025 | $2,621 | 37.2% | | 6 Months Ended July 31, 2024 | $2,876 | 33.5% | - Effective tax rate changes primarily due to shifts in **jurisdictional earnings mix**, affecting valuation allowances against foreign losses and limitations on GILTI tax credits/deductions[68](index=68&type=chunk)[70](index=70&type=chunk) - No deferred tax liability for **$239.4 million** of undistributed foreign earnings, as the company intends to permanently reinvest them[71](index=71&type=chunk) - The One Big Beautiful Bill Act (OBBBA), signed July 4, 2025, is **not expected to have a material impact** on consolidated financial statements[72](index=72&type=chunk) [Equity](index=22&type=section&id=NOTE%2011%20%E2%80%93%20EQUITY) Provides a breakdown of shareholders' equity, including common stock and retained earnings Key Equity Balances (in thousands) | Metric | July 31, 2025 | January 31, 2025 | July 31, 2024 (As Restated) | | :---------------------------------------- | :------------ | :--------------- | :-------------------------- | | Total Movado Group, Inc. shareholders' equity | $489,913 | $481,329 | $492,044 | | Retained earnings | $435,553 | $446,704 | $449,346 | | Accumulated other comprehensive income | $99,499 | $79,981 | $87,802 | - Total Movado Group, Inc. shareholders' equity increased by **$8.6 million** from January 31, 2025, to July 31, 2025[10](index=10&type=chunk) - Class A Common Stock holders are entitled to **10 votes per share** and can convert to common stock at any time[76](index=76&type=chunk) [Treasury Stock](index=24&type=section&id=NOTE%2012%20%E2%80%93%20TREASURY%20STOCK) Reports on the company's share repurchase activities and programs - Board approved a new **$50.0 million share repurchase program** on December 5, 2024, through December 5, 2027[79](index=79&type=chunk) - Repurchased **100,000 shares for $1.6 million** (average $15.94/share) during the six months ended July 31, 2025[80](index=80&type=chunk) - **$48.4 million remains available** for purchase under the December 5, 2024, repurchase program as of July 31, 2025[81](index=81&type=chunk) [Accumulated Other Comprehensive Income](index=24&type=section&id=NOTE%2013%20%E2%80%93%20ACCUMULATED%20OTHER%20COMPREHENSIVE%20INCOME) Breaks down the components of accumulated other comprehensive income, such as currency adjustments Accumulated Other Comprehensive Income (in thousands) | Component | July 31, 2025 | January 31, 2025 | July 31, 2024 (As Restated) | | :---------------------------------------------- | :------------ | :--------------- | :-------------------------- | | Foreign currency translation adjustments | $101,840 | $81,519 | $89,291 | | Cash flow hedges | ($800) | $0 | $15 | | Total accumulated other comprehensive income | $99,499 | $79,981 | $87,802 | - **Foreign currency translation adjustments** are the largest component, increasing from **$81.5 million** to **$101.8 million** from January 31, 2025, to July 31, 2025[83](index=83&type=chunk) [Revenue](index=24&type=section&id=NOTE%2014%20%E2%80%93%20REVENUE) Disaggregates revenue by customer type and describes revenue recognition policies Net Sales by Customer Type (in thousands) | Customer Type | 3 Months Ended July 31, 2025 | 3 Months Ended July 31, 2024 (As Restated) | 6 Months Ended July 31, 2025 | 6 Months Ended July 31, 2024 (As Restated) | | :------------------ | :--------------------------- | :----------------------------------------- | :--------------------------- | :----------------------------------------- | | Wholesale | $117,561 | $113,906 | $221,708 | $219,376 | | Direct to consumer | $43,420 | $42,206 | $70,227 | $70,353 | | After-sales service | $848 | $888 | $1,663 | $1,650 | | Net Sales | $161,829 | $157,000 | $293,598 | $291,379 | - **Wholesale revenue** is the largest component, increasing by **3.2%** for the three months and **1.1%** for the six months ended July 31, 2025, year-over-year[84](index=84&type=chunk) - Revenue is recognized at the point in time **control is transferred** to the customer[85](index=85&type=chunk)[86](index=86&type=chunk)[87](index=87&type=chunk)[89](index=89&type=chunk) [Stock-Based Compensation](index=25&type=section&id=NOTE%2015%20%E2%80%93%20STOCK-BASED%20COMPENSATION) Discloses expenses related to employee stock awards and options - Total compensation expense for stock awards was **$1.0 million** and **$2.1 million** for the three and six months ended July 31, 2025, respectively[94](index=94&type=chunk) - Unrecognized compensation cost for unvested stock awards was approximately **$7.5 million** as of July 31, 2025, expected to be recognized over **2.2 years**[94](index=94&type=chunk) - **No stock options** were granted during the six months ended July 31, 2025 and 2024[91](index=91&type=chunk) [Segment and Geographic Information](index=27&type=section&id=NOTE%2016%20%E2%80%93%20SEGMENT%20AND%20GEOGRAPHIC%20INFORMATION) Provides a breakdown of financial performance by operating segment and geographic region - Company operates in two segments: **Watch and Accessory Brands** and **Company Stores**[98](index=98&type=chunk) - Watch and Accessory Brands segment includes owned brands (Movado, Concord, EBEL, Olivia Burton, MVMT) and licensed brands (Coach, Tommy Hilfiger, Hugo Boss, Lacoste, Calvin Klein)[113](index=113&type=chunk) Net Sales by Segment (in thousands) | Segment | 3 Months Ended July 31, 2025 | 3 Months Ended July 31, 2024 (As Restated) | 6 Months Ended July 31, 2025 | 6 Months Ended July 31, 2024 (As Restated) | | :------------------------- | :--------------------------- | :----------------------------------------- | :--------------------------- | :----------------------------------------- | | Watch and Accessory Brands | $135,677 | $131,611 | $250,479 | $248,723 | | Company Stores | $26,152 | $25,389 | $43,119 | $42,656 | | Consolidated total | $161,829 | $157,000 | $293,598 | $291,379 | - International operations accounted for **33.5% (Europe)**, **11.6% (Americas ex-US)**, **6.8% (Asia)**, and **5.2% (Middle East)** of total net sales for the three months ended July 31, 2025[99](index=99&type=chunk) - Watch and Accessory Brands segment recorded an operating loss of **$0.2 million** for both the three and six months ended July 31, 2025, including unallocated corporate expenses and intercompany profits[100](index=100&type=chunk)[101](index=101&type=chunk)[103](index=103&type=chunk)[104](index=104&type=chunk) - Company Stores segment operating income increased to **$4.2 million** (3 months) and **$4.4 million** (6 months) for July 31, 2025, from $3.7 million and $4.1 million respectively in the prior year[100](index=100&type=chunk)[101](index=101&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Provides management's perspective on financial performance, condition, and key operational factors [Forward-Looking Statements](index=33&type=section&id=Forward-Looking%20Statements) Cautions readers that statements about future expectations are subject to risks and uncertainties - Statements in this report that are not historical are **forward-looking**, subject to risks and uncertainties[108](index=108&type=chunk) - Risks include general economic conditions, inflation, geopolitical concerns, tariffs, supply disruptions, changes in consumer preferences, and the impact of 'smart' watches[108](index=108&type=chunk) - Company undertakes **no obligation** to update or revise forward-looking statements[109](index=109&type=chunk) [Critical Accounting Policies and Estimates](index=34&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) Highlights the accounting policies that require significant management judgment and estimation - Financial statements prepared using GAAP, requiring management judgments and estimates (e.g., sales discounts, inventories, income taxes)[110](index=110&type=chunk) - **No material changes** to critical accounting policies as of July 31, 2025[111](index=111&type=chunk) [Overview](index=34&type=section&id=Overview) Provides a high-level summary of the company's business structure and brand portfolio - Company operates in two segments: **Watch and Accessory Brands** (design, manufacturing, distribution of owned and licensed brands, after-sales service) and **Company Stores** (retail outlet business in US and Canada)[112](index=112&type=chunk) - Owned brands include Movado, Concord, EBEL, Olivia Burton, MVMT; licensed brands include Coach, Tommy Hilfiger, Hugo Boss, Lacoste, Calvin Klein[113](index=113&type=chunk) - **Owned brands** generally yield **higher gross margins** than licensed brands due to royalty payments[114](index=114&type=chunk) [Recent Developments and Initiatives](index=34&type=section&id=Recent%20Developments%20and%20Initiatives) Discusses recent events, including the impact of tariffs and cost-saving measures - U.S. imports of Chinese-origin watch bands, jewelry, and packaging are subject to **special incremental tariffs** (7.5% for bands/jewelry, 25% for packaging)[115](index=115&type=chunk) - Additional special tariffs apply: **30%** on China-origin goods, **15%** on Japan-origin goods, and **39%** on Switzerland-origin goods[116](index=116&type=chunk) - Tariffs are expected to **materially increase U.S. cost of sales** and negatively impact sales volumes, despite mitigation efforts like price increases and sourcing changes[117](index=117&type=chunk) - Cost-savings initiative resulted in **$4.6 million** accruals in FY2025 and **$1.5 million** in 1H FY2026 for severance and lease termination, with expected annual savings of **$10.0 million**[118](index=118&type=chunk) - The One Big Beautiful Bill Act (OBBBA), signed July 4, 2025, is **not expected to have a material impact** on the Company's Consolidated Financial Statements[119](index=119&type=chunk) [Results of Operations Overview](index=36&type=section&id=Results%20of%20Operations%20Overview) Analyzes the company's operational results, comparing current period performance to the prior year - Net sales for the three months ended July 31, 2025, increased by **3.1% to $161.8 million** (1.4% excluding positive foreign currency impact of $2.6 million)[123](index=123&type=chunk) - Net sales for the six months ended July 31, 2025, increased by **0.8% to $293.6 million** (0.3% excluding positive foreign currency impact of $1.4 million)[144](index=144&type=chunk) - Gross profit margin decreased by approximately **20 basis points** for both the three and six months ended July 31, 2025, primarily due to increased U.S. tariffs and negative foreign exchange impact, partially offset by favorable sales mix and lower shipping costs[129](index=129&type=chunk)[150](index=150&type=chunk) - SG&A expenses increased by **1.1% ($0.9 million)** for the three months and **0.8% ($1.2 million)** for the six months ended July 31, 2025, driven by professional fees related to the Dubai branch investigation and performance-based compensation[130](index=130&type=chunk)[151](index=151&type=chunk) - Watch and Accessory Brands segment operating loss was **$0.2 million** for both periods, while Company Stores operating income increased[100](index=100&type=chunk)[101](index=101&type=chunk) - Net income attributable to Movado Group, Inc. decreased to **$3.0 million** (3 months) and **$4.4 million** (6 months) for July 31, 2025, from $3.5 million and $5.5 million respectively in the prior year[141](index=141&type=chunk)[162](index=162&type=chunk) [Liquidity and Capital Resources](index=47&type=section&id=LIQUIDITY%20AND%20CAPITAL%20RESOURCES) Assesses the company's ability to meet its short-term and long-term financial obligations Cash and Working Capital (in thousands) | Metric | July 31, 2025 | July 31, 2024 | | :---------------------- | :------------ | :------------ | | Cash and cash equivalents | $180,493 | $198,251 | | Working capital | $384,800 | $392,800 | - Cash used in operating activities decreased significantly to **$11.0 million** for the six months ended July 31, 2025, from **$35.9 million** in the prior year, despite a **$44.4 million increase in inventories**[165](index=165&type=chunk) - Cash used in investing activities was **$4.8 million** (2025) vs. **$8.3 million** (2024), primarily for capital expenditures and long-term investments[167](index=167&type=chunk)[168](index=168&type=chunk) - Cash used in financing activities was **$17.6 million** (2025) vs. **$17.7 million** (2024), including **$15.6 million in dividends paid** and **$1.6 million in stock repurchases**[169](index=169&type=chunk) - Company has a **$100.0 million revolving credit facility** with **$99.7 million available** as of July 31, 2025[170](index=170&type=chunk)[172](index=172&type=chunk) - Committed to invest up to **$21.5 million** in venture capital funds, with **$16.0 million funded** through July 31, 2025, and **$5.6 million remaining commitments**[176](index=176&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=51&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Details the company's exposure to market risks, primarily foreign currency and commodity risks - Primary market risk exposure is **foreign currency exchange risk**, particularly Swiss Franc, Euro, British Pound, Chinese Yuan, and Japanese Yen[182](index=182&type=chunk) - Company uses a **hedging program** with derivative financial instruments (forward and option contracts) to reduce foreign currency exposure, including qualified cash flow hedges and non-designated hedges[182](index=182&type=chunk)[183](index=183&type=chunk) - As of July 31, 2025, the net forward contracts hedging portfolio included **30.0 million Swiss Francs** equivalent, **28.9 million U.S. dollars** equivalent, **36.0 million Euros** equivalent, and **2.7 million British Pounds** equivalent[184](index=184&type=chunk) - Commodity risk is primarily related to **gold prices**; the company did not hold any gold futures contracts as of July 31, 2025 and 2024[187](index=187&type=chunk) - **No floating rate debt** or interest rate hedges were held as of July 31, 2025 and 2024[188](index=188&type=chunk) [Item 4. Controls and Procedures](index=53&type=section&id=Item%204.%20Controls%20and%20Procedures) Discloses a material weakness in internal controls and outlines the corresponding remediation plan - Disclosure controls and procedures were **not effective** at a reasonable assurance level as of July 31, 2025[190](index=190&type=chunk) - **Material weakness** identified in the risk assessment process regarding the lack of functional segregation of duties in the **Dubai branch** of the Swiss subsidiary[190](index=190&type=chunk) - Remediation plan includes enhancing risk assessment and oversight, personnel changes (e.g., terminating former managing director), switching to functional reporting lines, and increasing policy awareness/compliance training[191](index=191&type=chunk) - Material weakness will not be considered remediated until controls operate effectively for a sufficient period and are tested[191](index=191&type=chunk) [Part II – Other Information](index=54&type=section&id=Part%20II%20%E2%80%93%20Other%20Information) Contains supplementary information including legal proceedings, risk factors, and exhibit filings [Item 1. Legal Proceedings](index=54&type=section&id=Item%201.%20Legal%20Proceedings) Outlines routine legal proceedings and contingencies, which are not expected to be material - Company is involved in ordinary course legal proceedings and claims; reserves are recorded for probable and estimable losses[194](index=194&type=chunk) - A 2016 CBP audit report challenged the company's watch component cost allocation, implying **$5.1 million** of underpaid duties, but the statute of limitations has lapsed[195](index=195&type=chunk) - Resolution of current legal proceedings and contingencies is **not expected to materially affect** financial condition, future results of operations, or cash flows beyond accrued amounts[196](index=196&type=chunk) [Item 1A. Risk Factors](index=54&type=section&id=Item%201A.%20Risk%20Factors) Confirms no material changes to risk factors previously disclosed in the Annual Report on Form 10-K - **No material changes** to risk factors reported in the 2025 Annual Report on Form 10-K as of July 31, 2025[197](index=197&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=54&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Details the company's common stock repurchases under its authorized share buyback program - Board approved a new **$50.0 million share repurchase program** on December 5, 2024, through December 5, 2027[198](index=198&type=chunk) - Repurchased **100,000 shares** of common stock for **$1.6 million** (average $15.94 per share) during the three months ended July 31, 2025[198](index=198&type=chunk)[201](index=201&type=chunk) - **$48.4 million remains available** under the repurchase program as of July 31, 2025[201](index=201&type=chunk) [Item 5. Other Information](index=55&type=section&id=Item%205.%20Other%20Information) Reports no changes to director or officer trading arrangements under Rule 10b5-1 - No directors or officers reported changes to **Rule 10b5-1** or non-Rule 10b5-1 trading arrangements during the quarter ended July 31, 2025[202](index=202&type=chunk) [Item 6. Exhibits](index=56&type=section&id=Item%206.%20Exhibits) Lists all documents filed as exhibits to the Form 10-Q, including certifications and iXBRL data - Includes certifications of CEO and CFO pursuant to **Sarbanes-Oxley Act** (Sections 302 and 906)[205](index=205&type=chunk) - Financial information (Consolidated Balance Sheets, Statements of Operations, Comprehensive Income, Cash Flows, and Notes) is filed in **Inline Extensible Business Reporting Language (iXBRL)**[205](index=205&type=chunk) [Signature](index=57&type=section&id=Signature) Confirms the official authorization and signing of the report by a corporate officer - Report signed by **Linda Feeney**, Senior Vice President, Principal Accounting Officer[208](index=208&type=chunk) - Dated: **August 28, 2025**[208](index=208&type=chunk)

Movado Group (MOV) Q2 2026 Earnings Call August 28, 2025 09:00 AM ET Company ParticipantsAllison Malkin - PartnerEfraim Grinberg - Chairman & CEOSallie DeMarsilis - EVP, COO, CFO & Principal Accounting OfficerHamed Khorsand - PrincipalOperatorGood day, everybody, and welcome to the Movado Group Second Quarter Fiscal twenty twenty six Earnings Call. As a reminder, today's call is being recorded and may not be reproduced in full or in part without permission from the company. At this time, I would like to tur ...

Financial Data and Key Metrics Changes - Sales grew by 3% to $161.8 million compared to $157 million last year, with adjusted operating profit more than doubling to $7 million from $2.6 million despite a $2.2 million impact from U.S. tariff expenses [5][18] - Gross profit as a percentage of sales was 54.1% compared to 54.3% in the same quarter last year, primarily driven by increased tariffs and unfavorable foreign exchange [19][20] - Net income for the second quarter was $5.3 million or $0.23 per diluted share, compared to $3.5 million or $0.15 per diluted share in the prior year [21] Business Line Data and Key Metrics Changes - The company's licensed brands grew by 9.5% on a reported basis, or 6.5% on a constant currency basis, while owned brands experienced a 5.6% sales decline [7][13] - Movado brand saw a return to growth in wholesale distribution, with a 6% growth in its own e-commerce site [10][11] - The outlet stores segment grew by 2.4% for the quarter, indicating positive trends in that channel [9] Market Data and Key Metrics Changes - U.S. net sales declined by 1.6%, while international net sales increased by 6.9%, or 3.9% on a constant currency basis, with strong performances in Europe, Latin America, and India [8][19] - The Middle East market is currently being rebuilt, which has impacted overall performance [8] Company Strategy and Development Direction - The company is focused on returning to growth and profitability, expecting approximately $10 million in annualized savings from actions taken to reduce operating expenses [7][16] - Strategic pricing actions to offset tariff impacts became effective on July 1, indicating a proactive approach to managing costs [8] - The company is optimistic about the resurgence in the fashion watch market and is committed to driving profitability while maintaining a strong balance sheet [16] Management's Comments on Operating Environment and Future Outlook - Management expressed hope for a reduction in tariff rates between the U.S. and Switzerland and is closely monitoring the situation [6][16] - The company is not providing a fiscal 2026 outlook due to ongoing uncertainty regarding tariffs and the broader retail environment [26] Other Important Information - The company has a strong balance sheet with over $180 million in cash and no debt [6] - Inventory at the end of the quarter was up 15.5% year-over-year, with a significant portion related to Swiss-made watches [25] Q&A Session Summary Question: Insights on mini watches and consumer habits - Management noted a trend towards smaller watches, particularly among young women, driven by social media and layering with jewelry, representing a significant opportunity [28][29] Question: Performance during Prime Day - The company observed strong performance in its digital business during Prime Day events, particularly in Europe, indicating a positive trend across its brand portfolio [30] Question: Inventory increase due to tariffs - Management explained that inventory was rebuilt to manage tariff impacts, with expectations to align inventory levels by year-end [31][34] Question: Restructuring charges and future visibility - Management indicated that restructuring charges are predominantly done, with expectations for a significant reduction in future expenses [38]

EXHIBIT 99.1 CONTACT: ICR, Inc. Allison Malkin 203-682-8200 MOVADO GROUP, INC. ANNOUNCES SECOND QUARTER FISCAL 2026 RESULTS ~ Net Sales of $161.8 million ~ ~ Operating Income of $4.0 million and Adjusted Operating Income of $7.0 million ~ ~ EPS of $0.13 and Adjusted EPS of $0.23 ~ ~ Board Declares Quarterly Dividend of $0.35 Per Share ~ Paramus, NJ – August 28, 2025 -- Movado Group, Inc. (NYSE: MOV) today announced second quarter and six-month results for the periods ended July 31, 2025. Fiscal 2026 Second ...

Group 1 - Movado Group has faced significant challenges, with shares down 15.8% year to date and 38.2% over the last year [1] - Following the COVID-19 pandemic, there was a notable surge in demand for quality watches, which initially benefited the industry [1]