Financial Data and Key Metrics Changes - Net sales for Q2 2025 were $159.3 million, a decrease of 0.7% compared to $160.4 million in Q2 2024, with a constant dollar decrease of 0.3% [14][15] - Operating income decreased to $3 million from $9.6 million in Q2 2024, with net income at $3.7 million or $0.16 per diluted share, down from $8 million or $0.36 per diluted share in the prior year [15][17] - Gross profit margin was 54.2%, down from 55.7% in the same quarter last year, primarily due to unfavorable channel and product mix [14][15] Business Line Data and Key Metrics Changes - Movado brand sales grew by 1.4%, with a 21% increase in direct-to-consumer sales through Movado.com, offset by a 6% decline in the wholesale channel [5][12] - Licensed brands saw a 2.5% growth for the quarter, with notable performance from brands like Coach and Tommy Hilfiger [9][10] - The overall performance of the jewelry segment outperformed watches, indicating strong innovation and market demand [24] Market Data and Key Metrics Changes - U.S. net sales decreased by 0.3%, while international net sales decreased by 0.9% on a constant currency basis [14] - The company noted cautious order placements from retail partners, particularly in Europe and the U.S., due to a challenging consumer spending environment [5][12] - Growth was observed in developing markets such as Latin America and India, where economic conditions have improved [21] Company Strategy and Development Direction - The company is focused on aligning operating expenses with sales while continuing to support brand-building efforts [6][12] - A new advertising campaign featuring high-profile brand ambassadors was launched, aimed at enhancing brand equity and consumer engagement [7][22] - The company plans to introduce new products and line extensions to strengthen its market position, particularly in the Movado brand [8][10] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging retail environment and the impact of consumer spending on sales, leading to an updated outlook for the second half of the year [5][19] - The company expects net sales for the year to be in the range of $665 million to $675 million, with second-half sales anticipated to be flat to low single digits compared to the previous year [19] - Management expressed confidence in the strategic initiatives in place, despite not achieving the desired results as quickly as planned [12][19] Other Important Information - The company maintained a strong balance sheet with $198 million in cash and no debt, while inventory levels increased to support sales expectations for the second half of the year [4][17] - Capital expenditures for the first six months were $3.9 million, with a share repurchase program still in effect [18] Q&A Session Summary Question: Insights on competition and pricing - Management noted that the watch category has become challenging across luxury and accessible segments, with gains in the fashion watch category despite broader market difficulties [20][21] Question: Global media campaign and India opportunity - The Movado campaign is primarily focused on North America but will also run in India and other markets, with expectations for future international opportunities [23] Question: Performance of jewelry segment - Jewelry is outperforming watches in the fashion brands, with strong innovation and market opportunities identified, particularly in Europe and Mexico [24] Question: Financial guidance and interest rates - Management indicated that current guidance does not factor in potential interest rate cuts, as the impact on consumers typically lags behind economic changes [25] Question: Share buyback strategy - The decision to be more aggressive in share buybacks will depend on confidence in the market environment and the company's performance [26]

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]

EXHIBIT 99.1 CONTACT: ICR, Inc. Cody McAlester/Allison Malkin 203-682-8200 MOVADO GROUP, INC. ANNOUNCES FIRST QUARTER FISCAL 2025 RESULTS ~ Net Sales of $136.7 million ~ ~ Operating Income of $3.3 million ~ ~ EPS of $0.13 ~ ~ Board Approves Quarterly Dividend of $0.35 Per Share ~ Paramus, NJ – May 30, 2024 -- Movado Group, Inc. (NYSE: MOV) today announced first quarter fiscal 2025 results for the period ended April 30, 2024. Fiscal 2025 First Quarter Highlights Efraim Grinberg, Chairman and Chief Executive ...

Sales and Revenue - Jewelry sales accounted for 7.5% of consolidated net sales in fiscal year 2024[28] - For the fiscal year ended January 31, 2024, licensed brands represented 53.9% of the Company's net sales[111] - The second half of each fiscal year accounted for 54.6%, 54.0%, and 57.9% of the Company's net sales for the years ended January 31, 2024, 2023, and 2022, respectively[113] - The Company’s e-commerce sales, while historically a minority, are expected to continue growing, indicating a shift in sales strategy[119] - The Company operates 51 retail outlet locations in the U.S. and four in Canada, with sales influenced by peak tourist seasons[190] - 56.8% of the Company's total sales are derived from international markets, with Europe accounting for 30.5% of total net sales for fiscal 2024[187][188] Marketing and Branding - Marketing expenses were 19.2%, 16.8%, and 16.3% of net sales in fiscal years 2024, 2023, and 2022, respectively[43] - The Company focuses on digital marketing and enhancing its online presence, including social media and influencer partnerships[43] - The Company has developed a strong brand-building reputation through strategic acquisitions and license agreements since its inception[15] - The Company’s sales strategy includes cooperative advertising programs with wholesale customers, enhancing relationships and facilitating new product introductions[53] - Marketing expenditures are strategically aligned to maintain or increase market share, with a focus on digital advertising and customer acquisition costs[197] Acquisitions and Licensing - The Company has a portfolio of owned brands including Movado, Concord, EBEL, Olivia Burton, and MVMT, as well as licensed brands such as Coach, Tommy Hilfiger, Hugo Boss, Lacoste, and Calvin Klein[14][18] - The Company completed its acquisition of MVMT in October 2018, targeting the millennial consumer with a direct-to-consumer business model[16] - The Company is highly selective in its licensing strategy, entering long-term agreements with powerful brands[17] - The Company has exclusive worldwide licenses for several brands, including COACH and TOMMY HILFIGER, with agreements set to expire between 2024 and 2031, allowing for continued brand expansion[63][64][66] Operational Efficiency - The Watch and Accessory Brands segment includes the design, manufacturing, and distribution of watches and jewelry, while the Company Stores segment encompasses the retail outlet business[45] - The Company emphasizes a flexible manufacturing model, relying on independent manufacturers to meet market demand, ensuring quality control through strict standards[58] - The Company operates a distribution facility in New Jersey that fulfills most orders for the U.S., Canada, and Latin America, and any disruption could materially affect its business[134] - The Company has a web-based system for retail partners to track repair status and service orders, improving customer service and operational efficiency[57] Workforce and Employment - As of January 31, 2024, the Company employed a total of 1,548 individuals globally, with 1,089 full-time employees, indicating a diverse workforce[74] - Approximately 29% of the Company's non-retail employees have been with the Company for over 10 years, reflecting employee retention efforts[75] - The Company maintains a strong focus on diversity and inclusion, with women representing approximately 62% of its global workforce and underrepresented minorities making up about 55% of U.S. employees[83] Financial Performance and Risks - The Company had unfilled orders of $41.0 million as of March 20, 2024, compared to $40.7 million in 2023 and $60.9 million in 2022, indicating a slight increase year-over-year but a decrease from two years ago[52] - Adverse economic conditions, including declines in consumer confidence and spending, could materially affect the Company's operating results, particularly for discretionary items[91][92] - The Company's wholesale business may be negatively impacted by the shift towards online shopping and consolidation in the retail industry, affecting sales to major jewelry store chains and department stores[101][102] - The Company faces intense competition in the watch industry, including from smart watches, which may adversely impact its results of operations and financial condition[103][104] - The Company’s inventory management is critical, as misjudging demand could lead to high inventory levels and adversely affect profitability[124][125] Compliance and Legal Matters - The Company is subject to complex and evolving laws and regulations regarding privacy and data protection, which could result in increased costs and legal claims[85] - The Company is involved in legal proceedings that could result in significant expenses and reputational damage, impacting cash flows[150] - A significant privacy breach could lead to costly enforcement actions and damage the Company's reputation, adversely affecting sales[148] Shareholder and Stock Information - The Grinberg family controls a majority of the voting power of the Company's stock through their significant holdings of class A common stock, influencing shareholder votes[154] - The Company repurchased a total of 111,722 shares of its common stock at a total cost of $3.1 million, averaging $27.89 per share during the fiscal year ended January 31, 2024[176] - The Company has a share repurchase program authorized for up to $50 million through November 23, 2024, depending on market conditions[176] - The cumulative total shareholder return for Movado Group, Inc. was 104.56 as of January 31, 2024, compared to 146.49 for the S&P SmallCap 600 Index, indicating underperformance relative to the index over the five-year period[182] Cybersecurity and IT - The Company has not experienced any material cybersecurity incidents in the last three fiscal years, indicating effective risk management strategies[162] - The Company maintains a Breach Response Team to oversee cybersecurity incident responses, ensuring a structured approach to managing potential threats[160] - The Company is migrating many IT systems to the cloud, which entails risks and could lead to disruptions affecting business operations and sales[136] Economic and Market Conditions - The Company faces risks related to increasing privacy regulations, which may raise operational costs and impact financial results[120] - Changes in consumer discretionary spending and travel factors can significantly affect customer foot traffic and sales at retail outlets[115] - Changes in laws and regulations could impose new requirements and costs, potentially placing the Company at a competitive disadvantage[145]

EXHIBIT 99.1 ~ Fourth Quarter Net Sales of $179.6 million ~ ~ Fourth Quarter EPS of $0.53 and Fourth Quarter Adjusted EPS of $0.55 ~ CONTACT: ICR, Inc. Cody McAlester/Allison Malkin 203-682-8200 FINAL MOVADO GROUP, INC. ANNOUNCES FOURTH QUARTER AND FISCAL YEAR 2024 RESULTS ~ Fiscal 2024 Net Sales of $672.6 million ~ ~ Fiscal 2024 EPS of $2.06 and Fiscal 2024 Adjusted EPS of $2.13 ~ ~ Board Declares Quarterly Dividend ~ ~ Launches Investment Growth Strategy ~ Paramus, NJ – March 26, 2024 -- Movado Group, Inc ...

Movado Group, Inc. (NYSE:MOV) Q3 2024 Earnings Conference Call November 30, 2023 9:00 AM ET Company Participants Rachel Schacter - ICR Efraim Grinberg - Chairman & CEO Sallie DeMarsilis - EVP, COO & CFO Conference Call Participants Michael Legg - The Benchmark Company Operator Good day, everyone, and welcome to the Movado Group, Inc. Third Quarter Fiscal 2024 Earnings Conference Call. As a reminder, today's call is being recorded and may not be reproduced in full or in part without permission from the compa ...

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended October 31, 2023 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-16497 MOVADO GROUP, INC. (Exact Name of Registrant as Specified in its Charter) New York 13-2595932 (State or Other Jurisdiction of Incorpora ...