The company's operating income for FY 2026 reached $29.8 million, a significant increase of 49% from $20.0 million in FY 2025. Adjusted operating income was even higher at $34.8 million, up from $27.1 million the previous year. Earnings per share (EPS) also saw a notable rise, with diluted EPS at $1.17 compared to $0.81 in FY 2025, and adjusted EPS at $1.34, up from $1.12.
Movado's Chairman and CEO, Efraim Grinberg, attributed the strong performance to the power of their global brands and effective execution of their strategy. He highlighted that the Movado brand experienced substantial growth, particularly in wholesale channels, which saw a 25% increase in sales. The company ended the fiscal year with $230.5 million in cash and no debt, indicating a strong liquidity position.
In addition to the financial results, the Board of Directors declared a quarterly dividend of $0.35 per share, payable on April 16, 2026, to shareholders of record as of April 2, 2026. This decision reflects the company's commitment to returning value to its shareholders while maintaining a solid financial foundation.
Looking ahead, Movado Group has opted not to provide a fiscal 2027 outlook due to ongoing economic and geopolitical uncertainties, including the impact of the Middle East conflict and tariff developments. However, the company remains optimistic about its ability to navigate these challenges and continue delivering sustainable, profitable growth in the long term.
