Movado’s fourth quarter delivered better-than-expected results, with Wall Street responding positively to the company’s ability to grow sales and improve profitability. Management pointed to robust demand in the U.S., especially from younger consumers and women, as a key driver. CEO Efraim Grinberg highlighted that “continued strength in both the fashion watch and accessible luxury segment in the U.S.”, combined with successful in-store execution and refreshed product lines, supported the quarter’s outperformance. The company’s omnichannel approach and focus on digital engagement also contributed to increased sales and higher average selling prices.
Is now the time to buy MOV? Find out in our full research report (it’s free for active Edge members).
Movado (MOV) Q4 CY2025 Highlights:
- Revenue: $191.6 million vs analyst estimates of $182 million (5.6% year-on-year growth, 5.3% beat)
- Adjusted EPS: $0.57 vs analyst estimates of $0.54 (5.6% beat)
- Adjusted EBITDA: $8.9 million vs analyst estimates of $16.89 million (4.6% margin, 47.3% miss)
- Operating Margin: 7.4%, in line with the same quarter last year
- Market Capitalization: $536.1 million
While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.
Our Top 5 Analyst Questions From Movado’s Q4 Earnings Call
- Owen Rickert (Northland Capital) asked what drove Movado.com’s 18% growth in Q4. CEO Efraim Grinberg cited higher consumer engagement, innovation in product design, and rising average selling prices as key contributors.
- Owen Rickert (Northland Capital) inquired about the makeup of U.S. sales growth. Grinberg clarified that most growth was volume-driven, with only minimal price increases passed through to offset tariffs.
- Owen Rickert (Northland Capital) questioned the gross margin impact of tariffs. CFO Sallie DeMarsilis quantified the tariff drag as about 150 basis points for the year, with ongoing uncertainty in rates for the next year.
- Owen Rickert (Northland Capital) asked about criteria for accelerating share buybacks. Grinberg explained that repurchase activity is balanced against maintaining a solid dividend and strong cash reserves.
- Hamed Khorsand (BWS Financial) sought clarity on wholesale demand versus inventory restocking. Grinberg responded that recent wholesale momentum reflected genuine consumer sell-through rather than inventory rebuilds.
Catalysts in Upcoming Quarters
In upcoming quarters, the StockStory team will be monitoring (1) the effectiveness of new product launches and their ability to attract younger and female consumers, (2) the company’s ability to manage tariff-related cost pressures and preserve gross margins, and (3) progress in rebuilding inventory levels in high-demand segments. We will also track the impact of external geopolitical and economic developments on both U.S. and international sales.
Movado currently trades at $24.28, up from $23.05 just before the earnings. At this price, is it a buy or sell? See for yourself in our full research report (it’s free).
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