Movado Group, Inc. has announced its fiscal year 2026 results, revealing an increase in net sales, operating income, and EPS compared to the previous year. The company's net sales for fiscal 2026 were reported at $671.3 million, up from $653.4 million in fiscal 2025. Operating income saw a significant rise, reaching $29.8 million compared to $20.0 million in the previous year. Adjusted operating income also surged to $34.8 million from $27.1 million in fiscal year 2025.
The company's diluted earnings per share (EPS) for fiscal 2026 stood at $1.17, a notable increase from the $0.81 reported for fiscal 2025. Adjusted EPS also saw an uptick, reaching $1.34 compared to $1.12 in the previous fiscal year.
In the fourth quarter of fiscal 2026, Movado Group, Inc. achieved net sales of $191.6 million, marking a 5.6% increase from the $181.5 million recorded in the fourth quarter of fiscal 2025. The company reported a gross margin of 54.1% for the fourth quarter, slightly down from 54.2% in the prior-year period. However, operating income for the fourth quarter of fiscal 2026 witnessed a substantial surge, amounting to $13.8 million, up from $9.2 million in the prior-year period. Adjusted operating income also increased to $14.4 million, compared to $13.5 million in the fourth quarter of fiscal 2025.
The company's financial performance also reflected positive results for the full fiscal year 2026. Net sales increased by 2.7% to $671.3 million, or 1.0% on a constant-dollar basis, compared to fiscal 2025. Gross profit reached $363.6 million, or 54.2% of net sales, compared to $353.1 million, or 54.0% of net sales, in fiscal 2025. Operating income for the full fiscal year 2026 surged by 49.0% to $29.8 million from $20.0 million in fiscal 2025, with adjusted operating income rising to $34.8 million from $27.1 million for fiscal 2025.
The company's outlook for fiscal 2027 was not provided due to current economic and geopolitical uncertainties, including the impact of the ongoing Middle East conflict and tariff developments.
Movado Group, Inc. also declared a quarterly dividend of $0.35 per share and disclosed that approximately 208,000 shares were repurchased under its share repurchase program during fiscal year 2026.
The company's financial measures, including adjusted operating expenses, operating income, pre-tax income, tax provision, net income, and diluted earnings per share, were presented to exclude certain items. Movado Group, Inc. believes these adjusted measures provide investors with information about its financial performance without the effect of certain non-characteristic items.
Following these announcements, the company's shares moved 0.75%, and are now trading at a price of $22.79. For the full picture, make sure to review MOVADO GROUP INC's 8-K report.
