The watchmaker reported second-quarter earnings exceeding expectations by $5.6M, driven by growth in U.S. sales and licensed brands.
Movado posted Q2 non-GAAP earnings per share of $0.54 as revenue rose 4.9% year-over-year to $169.8M, beating estimates by $5.6M. The increase was fueled by higher sales across owned and licensed brands, along with stronger performance in Movado Company Stores.
U.S. net sales led the growth, though the release did not provide a specific prior-quarter comparison or consensus forecast. The company’s results reflect broader demand trends in the luxury accessories sector, though market reactions were not immediately detailed.
Shares may see modest support as investors assess the beat against industry peers and macroeconomic conditions affecting discretionary spending.