Movado Group Powers Ahead in Q1 2027: Record Sales and Strong Execution
Movado Group, Inc. reported an impressive start to the year with a first quarter performance that showcases meaningful momentum across its business and continued consumer strength despite a dynamic external environment.
The company's sales increased by 8.1% as reported, or 4.5% on a constant currency basis, reaching $142.4 million. This growth was driven by strong execution against the company's strategic priorities, which include putting customers at the center of everything they do and delivering consumer and brand-focused innovation.
Adjusted operating profit increased to $7.5 million from $900,000 in Q1 of last year, while adjusted earnings per share reached $0.32 from $0.08, further demonstrating the company's commitment to operational efficiency and customer satisfaction.
The Movado brand delivered strong performance with renewed interest in innovative new designs and iconic classics. Several best-selling styles sold out during the quarter, and the company expects to replenish these key items by summer. movado.com sales increased by 12.8%, reflecting strong direct consumer demand and improved digital capabilities.
The company's second strategic priority is to deliver consumer and brand-focused innovation. The Movado brand sales growth was driven by retailer replenishment and continued consumer response to its Bangles collection, Museum Velura, and the new Mini Bold Evolution Tank. The Heritage 1917 collection for both men and women continues to exceed expectations, and the company's new curved jewelry collection is resonating strongly on movado.com.
In recognition of its solid financial position and belief in the long-term health of its business, Movado Group's board approved a $0.05 per share increase in its quarterly cash dividend to $0.40 per share. This move reflects the company's commitment to sharing its success with its shareholders while continuing to invest in its future growth.
The company also highlighted its strong performance in the context of its key strategic priorities, which include putting customers at the center of everything they do and delivering consumer and brand-focused innovation. Movado Group continues to strengthen consumer engagement across digital platforms while delivering trend-right product that honors each brand's unique identity.
Looking ahead to Father's Day and the second quarter, the company is excited about two launches: the new sporty BOLD Verso S collection and the vintage-inspired Kingmatic collection. Both are experiencing strong early demand, further underscoring Movado Group's commitment to innovation and customer satisfaction.
