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How Movado Group (MOV) makes money

Movado Group (MOV) made $170M of revenue in the second quarter fiscal 2027 (Q2 FY27), +5% from a year earlier. Watch and Accessory Brands brought in $143M (84%); Company Stores brought in $26.9M (16%). Of every dollar of revenue, 59¢ was left as gross profit, 9¢ was left as operating profit, 7¢ was left as net earnings.

Drawing the Sankey…

Movado Group revenue by segment, Q2 FY27Movado Group revenue by segment, Q2 FY27Watch and Accessory Brands$143MCompany Stores$26.9M
Movado Group: revenue by line, Q1 FY26 to Q2 FY27Movado Group: revenue by line, Q1 FY26 to Q2 FY27Watch and Accessory B…Company StoresWatch and Accessory Brands: $143M latest$143MCompany Stores: $26.9M latest$26.9MQ1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27Q2 FY27
Watch and Accessory Brands went from 87% of revenue in Q1 FY26 to 84% in Q2 FY27, the largest shift in the mix.
Movado Group revenue by quarterMovado Group revenue by quarter$181MQ4 FY25$132MQ1 FY26$162MQ2 FY26$186MQ3 FY26$192MQ4 FY26$142MQ1 FY27$170MQ2 FY27
Movado Group: where each dollar of revenue goesMovado Group: where each dollar of revenue goesCost of revenue41¢Gross profit59¢Operating expenses51¢Operating profit9¢Income tax2¢Net earnings7¢

Revenue by segment, Q2 FY27

SegmentRevenueShareQ/QY/Y
Watch and Accessory Brands$143M84.2%+15%+5%
Company Stores$26.9M15.8%+44%+3%

Where each dollar of revenue goes

LineQ2 FY27% of revenue
Revenue$170M100.0%
Cost of revenue$68.9M40.6%
Gross profit$101M59.4%
Operating expenses$85.9M50.6%
Operating profit$14.9M8.8%
Income tax$3.5M2.1%
Net earnings$12.3M7.2%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q2 FY27$170M+5%
Q1 FY27$142M+8%
Q4 FY26$192M+6%
Q3 FY26$186M+3%
Q2 FY26$162M+3%
Q1 FY26$132M-2%
Q4 FY25$181M+3%

From Movado Group's 10-Q filed Aug 26, 2026 (on EDGAR).

Questions

How does Movado Group make money?

Movado Group (MOV) made $170M of revenue in the second quarter fiscal 2027 (Q2 FY27), +5% from a year earlier. Watch and Accessory Brands brought in $143M (84%); Company Stores brought in $26.9M (16%). Of every dollar of revenue, 59¢ was left as gross profit, 9¢ was left as operating profit, 7¢ was left as net earnings.

What is Movado Group's biggest business?

Watch and Accessory Brands: $143M in the second quarter fiscal 2027, 84% of revenue, +5% from a year earlier.

What is Movado Group's profit margin?

Net earnings were $12.3M, 7.2% of revenue, in the second quarter fiscal 2027; the operating margin was 8.8%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.