Movado Reports 3.1% Increase in Q3 Net Sales to $186.1 Million
- Sales Growth: Movado's Q3 net sales reached $186.1 million, reflecting a 3.1% increase from the previous year, demonstrating the company's sustained appeal in the fashion watch market, particularly with a 6.9% growth in the U.S. market.
- Margin Improvement: Gross margin expanded from 53.5% to 54.3%, an increase of 80 basis points, indicating effective product mix and channel optimization despite rising U.S. tariff pressures.
- Enhanced Profitability: Operating income for Q3 was $11.7 million, nearly doubling from $6.0 million in the same quarter last year, showcasing the company's effective strategies in cost control and sales enhancement.
- Shareholder Returns: The Board declared a quarterly dividend of $0.35 per share, reflecting strong cash flow and a debt-free financial position, providing a solid foundation for future growth investments.
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