Adjusted EPS climbed to $0.32 as direct-to-consumer growth and retailer replenishment offset Middle East weakness.
Movado Group reported first-quarter net sales of $142.4 million, up 8.1% year-over-year, driven by stronger U.S. demand and direct-to-consumer channels. Adjusted earnings per share rose to $0.32 from $0.08, while operating profit surged to $7.5 million from $900,000.
Sales growth was supported by retailer replenishment, improved European trends, and expansion in Movado.com and company stores. The Middle East remained a weak spot due to geopolitical conflict. Comparable sales in the prior year were $131.8 million, with constant-currency growth also positive.
The company raised its quarterly dividend to $0.40 per share and ended the quarter debt-free with $225.3 million in cash. Full-year guidance was withheld amid economic and geopolitical uncertainty.