Financial Performance - Net sales for the three months ended October 31, 2024 were $182.7 million, representing a $5.0 million or 2.6% decrease from the prior year period[117]. - The Watch and Accessory Brands segment net sales were $161.9 million, down $3.3 million or 2.0% compared to the prior year period, primarily due to unfavorable sales mix and decreased volumes[118]. - In the United States, net sales for the Watch and Accessory Brands segment were $51.6 million, a decrease of $3.7 million or 6.7%, with owned brands category sales down $5.4 million or 13.1%[120]. - International net sales for the Watch and Accessory Brands segment were $110.3 million, an increase of $0.4 million or 0.4%, positively impacted by foreign currency exchange rates[121]. - Net sales for the nine months ended October 31, 2024 were $478.7 million, a decrease of $14.3 million or 2.9% from the prior year[136]. - Net sales in the Watch and Accessory Brands segment for the nine months ended October 31, 2024 were $415.2 million, down $9.6 million or 2.3% from the prior year[137]. - The U.S. locations of the Watch and Accessory Brands segment experienced net sales of $137.2 million for the nine months ended October 31, 2024, a decrease of $4.7 million or 3.3%[138]. Profitability - Gross profit for the three months ended October 31, 2024 was $98.4 million, or 53.8% of net sales, compared to $102.3 million or 54.5% in the prior year[123]. - Operating income in the Watch and Accessory Brands segment for the three months ended October 31, 2024 was $5.3 million, down $13.2 million from $18.5 million in the prior year period[125]. - Net income attributable to Movado Group, Inc. for the three months ended October 31, 2024 was $5.1 million, down from $17.4 million in the prior year[133]. - For the nine months ended October 31, 2024, the Company recorded operating income of $7.5 million in the Watch and Accessory Brands segment, a decrease from $31.9 million in the same period of 2023[145]. - The Company Stores segment recorded operating income of $5.4 million for the nine months ended October 31, 2024, a decrease from $9.3 million in the same period of 2023[149]. - Net income attributable to Movado Group, Inc. was $11.7 million for the nine months ended October 31, 2024, down from $34.6 million in 2023[153]. Expenses - SG&A expenses for the three months ended October 31, 2024 were $91.8 million, an increase of $10.2 million or 12.5% from the prior year period[124]. - SG&A expenses for the nine months ended October 31, 2024 were $247.4 million, an increase of $15.0 million or 6.5% from the prior year[144]. Cash Flow and Capital Management - The Company had cash and cash equivalents of $181.5 million as of October 31, 2024, compared to $201.0 million in the prior year[154]. - Working capital decreased to $398.4 million as of October 31, 2024, from $412.1 million in 2023[155]. - Cash used in operating activities was $40.6 million for the nine months ended October 31, 2024, compared to cash provided of $7.4 million in the same period of 2023[157]. - Cash used in investing activities increased to $11.9 million for the nine months ended October 31, 2024, from $8.8 million in 2023[158]. - The Company declared and paid cash dividends totaling $23.3 million for the nine months ended October 31, 2024, compared to $45.4 million in the same period of 2023[168]. - The Company has authorized a total of $100.0 million for share repurchase programs, with $15.2 million remaining under the November 23, 2021 program and the full $50.0 million available under the December 5, 2024 program[169]. - During the nine months ended October 31, 2024, the Company repurchased 120,000 shares at an average cost of $21.90 per share, totaling $2.6 million, compared to 85,722 shares at an average cost of $27.40 per share, totaling $2.3 million in the same period of 2023[169]. Risk Management - The Company employs a hedging program to manage foreign currency exchange risks, particularly with Swiss Francs, Euros, and British Pounds[172]. - The Company uses forward exchange contracts to offset exposure to foreign currency receivables and liabilities, with changes in fair value recognized in earnings[174]. - The Company has a comprehensive risk management strategy that includes hedging against currency fluctuations and commodity price changes[172]. - As of October 31, 2024, the Company's net forward contracts hedging portfolio included 30.0 million Swiss Francs and 33.0 million Euros, with various expiry dates through April 10, 2025[175]. - The Company reported a potential gain of $0.1 million if Swiss Franc forward contracts were settled as of October 31, 2024, and a $0.2 million gain for Euro forward contracts[175]. - The Company did not hold any futures contracts in its gold hedge portfolio as of October 31, 2024, meaning fluctuations in gold prices will directly affect the cost of sales[176]. - The Company had zero floating rate debt as of October 31, 2024, and 2023, with no weighted average borrowings during the nine months ended October 31, 2024[177]. - The Company has no off-balance sheet financing or unconsolidated special-purpose entities, indicating a straightforward financial structure[170].

EXHIBIT 99.1 CONTACT: ICR, Inc. Allison Malkin 203-682-8225 MOVADO GROUP, INC. ANNOUNCES THIRD QUARTER RESULTS ~ Net Sales of $182.7 million ~ ~ Operating Income of $6.6 million and Adjusted Operating Income of $9.3 million ~ ~ EPS of $0.22 and Adjusted EPS of $0.37 ~ ~ Updates Fiscal Year 2025 Outlook ~ ~ Board Approves New Share Repurchase Program and Declares Quarterly Dividend of $0.35 Per Share ~ Paramus, NJ – December 5, 2024 -- Movado Group, Inc. (NYSE: MOV) today announced third quarter and nine-mon ...

Group 1 - Amentum Holdings Inc. will be added to the S&P 500 effective prior to the open of trading on September 30, 2024, replacing Bath & Body Works, Inc. [1][2] - Bath & Body Works will move to the S&P SmallCap 600 effective prior to the open of trading on October 1, 2024, replacing Movado Group, Inc. [1][2] - Jacob's Solutions Inc. is spinning off its Critical Mission Solutions and Cyber Intelligence business, which will merge with private Amentum to create the newly publicly traded Amentum Holdings [1] Group 2 - The changes in the S&P indices reflect that Bath & Body Works is no longer representative of the large-cap market space, while Movado is no longer representative of the small-cap market space [1]

anamejia18/iStock via Getty Images Movado Group, Inc. (NYSE:MOV) (OTCPK:MOVAA) reported the company's Q2 results on the 5th of September, sending the stock down -15% - the company's extensive marketing efforts and spending haven't started paying off as wanted yet, and Movado had to lower its FY2025 outlook as a result. In my previous, June 19th article on the stock, "Movado: Brand Weakness Is More Than Temporary", I initiated the stock at a Sell rating due to Movado's clearly underperforming watch brands an ...

Eroding financials and lowered guidance didn't make for a beneficial combination. Many of Movado Group's (MOV -14.66%) goods are quite attractive, but the company's stock wasn't looking too pretty on Thursday. On the back of dispiriting quarterly results, investors peeled away from the stock, leaving it nearly 15% down in price at market close. The benchmark S&P 500 index did much better by comparison, "only" shedding 0.3% during the session. Revenue and profitability declines Movado's second quarter of fis ...

Movado Group, Inc. (NYSE:MOV) Q2 2025 Earnings Conference Call September 5, 2024 9:00 AM ET Company Participants Allison Malkin – Investor Relations-ICR, Inc. Efraim Grinberg – Chief Executive Officer Sallie DeMarsilis – Executive Vice President, Chief Operating Officer and Chief Financial Officer Conference Call Participants Michael Legg – The Benchmark Company Operator Good day everyone, and welcome to Movado Group, Incorporated Second Quarter Fiscal Year 2025 Earnings Conference Call. As a reminder, toda ...

Sales Performance - Net sales for the three months ended July 31, 2024 were $159.3 million, a decrease of $1.1 million or 0.7% compared to the prior year period[76]. - The Watch and Accessory Brands segment net sales were $133.9 million, down $0.2 million or 0.1% from the prior year[77]. - In the United States, net sales for the Watch and Accessory Brands segment increased by $0.6 million or 1.4% to $46.5 million, driven by online retail growth[78]. - International net sales in the Watch and Accessory Brands segment decreased by $0.8 million or 0.9% to $87.4 million, impacted by unfavorable sales mix and foreign exchange fluctuations[79]. - Company Stores segment net sales were $25.4 million, a decrease of $0.9 million or 3.4% from the prior year, primarily due to an unfavorable sales mix[80]. - For the six months ended July 31, 2024, net sales decreased by $9.3 million or 3.1% to $296.0 million compared to the prior year period[93]. - The Watch and Accessory Brands segment net sales for the six months ended July 31, 2024 were $253.3 million, a decrease of $6.4 million or 2.4% from the previous year[94]. - The licensed brands category net sales increased by $1.3 million or 13.1% in the United States, while owned brands category decreased by $1.0 million or 2.9%[78]. - Fluctuations in foreign currency exchange rates negatively impacted net sales by $0.6 million compared to the prior year[76]. Profitability - Gross profit for the three months ended July 31, 2024 was $86.4 million, representing 54.2% of net sales, down from 55.7% in the prior year[81]. - The decrease in gross margin percentage was approximately 150 basis points, primarily due to an unfavorable sales mix[81]. - Gross profit for the six months ended July 31, 2024 was $161.9 million, representing 54.7% of net sales, down from $171.3 million or 56.1% in the prior year[98]. - The Company recorded an operating loss of $0.6 million in the Watch and Accessory Brands segment, a decrease from an operating income of $4.6 million in the same period of 2023, reflecting a change of $5.2 million[83]. - In the U.S. locations of the Watch and Accessory Brands segment, the operating loss improved to $8.6 million for the three months ended July 31, 2024, compared to a loss of $10.4 million in the prior year, driven by a $1.6 million increase in gross profit[84]. - The International locations of the Watch and Accessory Brands segment reported an operating income of $8.0 million for the three months ended July 31, 2024, down from $15.0 million in the prior year, due to a decrease in gross profit of $3.4 million[85]. - The Company recorded operating income of $4.1 million for the six months ended July 31, 2024, down from $7.1 million in the same period of 2023, reflecting a decrease of $3.0 million primarily due to lower sales and higher SG&A expenses[103]. - Net income attributable to Movado Group, Inc. of $3.7 million for the three months ended July 31, 2024, down from $8.0 million in the same period of 2023[90]. - Net income attributable to Movado Group, Inc. was $6.6 million for the six months ended July 31, 2024, compared to $17.2 million for the same period in 2023, indicating a significant decline[105]. Expenses - SG&A expenses increased by $3.7 million or 4.6% to $83.3 million, mainly due to higher marketing expenses[82]. - SG&A expenses for the six months ended July 31, 2024 increased by $4.8 million or 3.2% to $155.5 million, primarily due to higher marketing and payroll related expenses[99]. Cash Flow and Financial Position - The Company had cash and cash equivalents of $198.3 million as of July 31, 2024, down from $218.9 million a year earlier, with working capital decreasing to $405.0 million from $412.7 million[106]. - Cash used in operating activities was $35.9 million for the six months ended July 31, 2024, compared to cash provided of $9.2 million in the same period of 2023, largely due to increased investment in inventories and trade receivables[107]. - Cash used in investing activities increased to $8.3 million for the six months ended July 31, 2024, from $6.1 million in the prior year, primarily for long-term investments and capital expenditures[108]. - Cash used in financing activities was $17.7 million for the six months ended July 31, 2024, a decrease from $38.2 million in the same period of 2023, with dividends paid totaling $15.5 million[109]. - The Company repurchased 39,000 shares of its common stock at a total cost of $1.1 million during the six months ended July 31, 2024, with $16.8 million remaining available under the share repurchase program[116]. - The Company had no borrowings under its $100.0 million revolving credit facility as of July 31, 2024, with availability under the facility at $99.7 million[112]. - The Company has no floating rate debt as of July 31, 2024, and 2023, indicating a stable debt position[123]. - There were no weighted average borrowings during the six months ended July 31, 2024, reflecting a conservative financial strategy[123]. Taxation - The effective tax rate for the three months ended July 31, 2024 was 19.5%, a decrease from 26.1% in the prior year, primarily due to changes in foreign tax credits and deductions[89]. - The effective tax rate increased to 31.9% for the six months ended July 31, 2024, compared to 23.7% in the prior year, primarily due to limitations on foreign tax credits[105]. Currency and Hedging - The Company’s foreign currency hedging portfolio included 25.0 million Chinese Yuan and 35.9 million Euros as of July 31, 2024, with a potential gain of $0.4 million if Swiss Franc forward contracts were settled[121]. - The Company did not hold any future contracts in its gold hedge portfolio as of July 31, 2024, and 2023, meaning gold price fluctuations will directly impact the cost of sales[122].

Financial Performance - Net sales for Q2 FY2025 were $159.3 million, a decrease of 0.7% from $160.4 million in Q2 FY2024[4] - Gross margin for Q2 FY2025 was 54.2%, down from 55.7% in the prior year period[4] - Operating income for Q2 FY2025 was $3.0 million, compared to $9.6 million in Q2 FY2024[4] - Diluted earnings per share (EPS) for Q2 FY2025 were $0.16, down from $0.36 in the prior year period[4] - For the first half of FY2025, net sales decreased 3.1% to $296.0 million compared to $305.3 million in the first half of FY2024[6] - The company expects FY2025 net sales to be in the range of $665.0 million to $675.0 million, revised down from $700.0 million to $710.0 million[8] - The gross profit margin for FY2025 is expected to be approximately 54%, down from a previous expectation of 55%[8] - Operating income for FY2025 is projected to be between $23.0 million and $26.0 million, revised down from $32.0 million to $35.0 million[8] Cash and Assets - The company ended Q2 FY2025 with $198 million in cash and no debt, positioning it well for future strategic plans[4] - Total current assets decreased to $523,940 thousand from $543,878 thousand, a decline of approximately 3.4%[16] - Cash and cash equivalents at the end of the period were $198,251 thousand, down from $262,059 thousand, representing a decrease of about 24.4%[16] - The total assets as of July 31, 2024, were $759,188 thousand, a slight decrease from $769,082 thousand as of January 31, 2024[16] Income and Expenses - Net income for the six months ended July 2024 was $6,924 thousand, a significant drop from $17,464 thousand in the same period last year, reflecting a decrease of approximately 60.4%[18] - Net cash used in operating activities was $(35,910) thousand, compared to a net cash provided of $9,226 thousand in the prior year[18] - Net cash used in investing activities was $(8,305) thousand, compared to $(6,081) thousand in the prior year, indicating an increase in cash outflow[18] - Dividends paid amounted to $(15,547) thousand, down from $(37,650) thousand in the previous year, reflecting a decrease of approximately 58.8%[18] Liabilities and Equity - Total liabilities decreased to $253,113 thousand from $261,468 thousand, a reduction of about 3.2%[17] - Shareholders' equity decreased to $504,116 thousand from $516,798 thousand, a decline of approximately 2.5%[17] Capital Expenditures - Capital expenditures for the period were $(3,913) thousand, slightly lower than $(4,620) thousand in the previous year[18] Dividends - A quarterly dividend of $0.35 per share was declared, payable on September 30, 2024[10]

Movado Group, Inc. (NYSE:MOV) Q1 2025 Earnings Conference Call May 30, 2024 9:00 AM ET Company Participants Cody McAllister - ICR Efraim Grinberg - Chairman & Chief Executive Officer Sallie DeMarsilis - Executive Vice President, Chief Operating Officer & Chief Financial Officer Conference Call Participants Michael Legg - Benchmark Company Operator Good day, everyone, and welcome to Movado Group, Inc. First Quarter Fiscal Year 2025 Earnings Conference Call. As a reminder, today's call is being recorded and m ...

Net Sales Performance - Net sales for the three months ended April 30, 2024 were $136.7 million, a decrease of $8.2 million or 5.7% compared to the prior year period[87] - Net sales for the three months ended April 30, 2024 were $136.7 million, a decrease of $8.2 million or 5.7% compared to the prior year period[88] - Watch and Accessory Brands segment net sales decreased by $6.2 million or 4.9% to $119.4 million, primarily due to lower demand in wholesale customers[89] - Company Stores segment net sales decreased by $2.1 million or 10.7% to $17.3 million, primarily due to sales mix and lower online outlet store sales[93] - Owned brands category net sales decreased by $2.8 million or 8.7%, while licensed brands category net sales increased by $0.2 million or 2.0%[91] Gross Profit and Operating Income - Gross profit for the three months ended April 30, 2024 was $75.5 million or 55.3% of net sales, a decrease of $6.5 million from the prior year period[94] - Operating income in the Watch and Accessory Brands segment decreased to $2.9 million for the three months ended April 30, 2024 from $8.8 million in the prior year period[96] Expenses and Net Income - SG&A expenses increased by $1.1 million or 1.5% to $72.2 million, primarily due to higher payroll-related expenses[95] - Net income attributable to Movado Group, Inc. was $2.9 million, a decrease of $6.2 million compared to the prior year period[106] - The company recorded an income tax provision of $2.3 million, a decrease of $0.2 million compared to the prior year period[47] - The effective tax rate was 42.9% for the three months ended April 30, 2024, compared to 21.5% in the prior year period[105] Cash and Liquidity - Cash and cash equivalents totaled $225.4 million at April 30, 2024, with $155.5 million held at foreign subsidiaries[107] - Cash used in operating activities was $18.1 million for the three months ended April 30, 2024, compared to $21.5 million in the prior year period[110] - Cash used in investing activities was $4.8 million in Q2 fiscal 2024, primarily for $3.1 million in long-term investments and $1.6 million in capital expenditures[111] - Cash used in financing activities was $9.9 million in Q2 fiscal 2024, including $7.8 million in dividends paid and $1.1 million in stock repurchases[112] - The company's working capital increased to $410.3 million at April 30, 2024, from $409.4 million at April 30, 2023, primarily due to an increase in cash and trade receivables[108] Share Repurchases and Dividends - The company repurchased 37,859 shares of common stock during the three months ended April 30, 2024[57] - The company repurchased 39,000 shares at a total cost of $1.1 million in Q2 fiscal 2024, with $16.8 million remaining under its $50.0 million share repurchase program approved in November 2021[122] - The company paid cash dividends of $0.35 per share, totaling $7.8 million, in Q2 fiscal 2024, compared to $29.9 million in Q2 fiscal 2023, which included a special cash dividend of $1.00 per share[121] Credit Facilities and Investments - The Company has a $100.0 million senior secured revolving credit facility with a maturity date of October 28, 2026[113] - Availability under the credit facility was $99.7 million at April 30, 2024, reduced by $0.3 million in outstanding letters of credit[115] - The Company's Swiss subsidiary maintains unsecured lines of credit totaling 6.5 million Swiss Francs ($7.1 million) as of April 30, 2024[117] - Cash paid for interest, including unused commitment fees and amortization of debt fees, was $0.1 million for both the three months ended April 30, 2024 and 2023[118] - The company committed to invest up to $21.5 million in minority investments in growth companies and venture capital funds during fiscal 2022, with $8.4 million funded through fiscal 2024 and an additional $3.1 million in Q1 fiscal 2025[120] Compensation and Stock Awards - Compensation expense for stock awards was $1.5 million, an increase of $0.5 million compared to the prior year period[68] Foreign Currency and Hedging - The company manages foreign currency exchange risk through a hedging program, primarily using forward and option contracts, with significant exposure to Swiss Francs, Euros, British Pounds, Chinese Yuan, and Japanese Yen[125] - The company uses forward exchange contracts, not designated as qualified hedges, to offset exposure to foreign currency receivables and liabilities, with changes in fair value recognized in earnings[126] Retail Operations - The company operates 55 retail outlet locations as of April 30, 2024[93]