Filing Flows › Movado Group (MOV) › Q1 FY26
Movado Group (MOV) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed May 29, 2025
Movado Group (MOV) reported revenue of $132M for the first quarter fiscal 2026 (Q1 FY26), -2% from a year earlier and -27% from the quarter before. Operating margin was 0.2%, net earnings $1.4M (1.1% of revenue).
Movado Group, Q1 FY26: revenue $132M (-2% year over year), operating margin 0.2%, net earnings $1.4M, operating cash flow −$7.2M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $132M | -27% | -2% |
| Gross profit | $71.3M | -27% | -2% |
| Operating profit | $291K | -97% | -86% |
| Net earnings | $1.4M | -82% | -30% |
| Operating cash flow | −$7.2M | -118% | — |
What changed
Revenue was $131.8M in Q1 FY26, down 2% year over year and down 27% from the previous quarter. Watch and Accessory Brands was the largest line at 87% of revenue. Watch and Accessory Brands lost $2.3M year over year (down 2%), 89% of the total change.
Gross margin was 54.1%, down 0.1 points from a year earlier. Operating profit was $291K, a 0.2% margin (down 1.4 points year over year). Operating expenses grew 0% against a revenue fall of 2%. Net earnings were $1.4M, down 30% year over year ($1.3M including minority interests, which bore $140K of losses). The effective tax rate was 34.0%. Non-operating items added $1.6M, 85% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$7.2M. Non-cash charges added back $2.3M of depreciation and amortization and $1.2M of share-based compensation. Working capital and other items used $12.0M. Capital expenditures of $1.5M exceeded it, leaving free cash flow of −$8.7M.
Questions
What was Movado Group's revenue in the first quarter fiscal 2026?
Movado Group (MOV) reported revenue of $132M for the first quarter fiscal 2026 (Q1 FY26), -2% from a year earlier and -27% from the quarter before.
Was Movado Group profitable in the first quarter fiscal 2026?
Operating profit was $291K (0.2% of revenue) and net earnings $1.4M.
Source: Movado Group 10-Q on SEC EDGAR.