MOV News & Events

Reports Q3 revenue $186.1M vs. last year. CEO Efraim Grinberg stated, "We are pleased with our third quarter results, delivering a 3% increase in net sales, 80 basis points of expansion in gross margin and a doubling in diluted earnings per share versus Q3 last year, even as we absorbed material tariff cost increases in the period. We capitalized on the accelerating interest in the fashion watch category among younger consumers, delivering innovative watch and jewelry assortments that were strongly received across our iconic brands, especially in Europe and the U.S...We ended the quarter with $184M in cash and no debt, providing a strong foundation to invest in growth initiatives and deliver value to our shareholders. We are pleased to report that our Board has approved a quarterly dividend of 35c per share...In addition, the recently announced framework trade agreement between the U.S. and Switzerland is expected to reduce our overall U.S. tariff rate on Swiss watches to 15%, which is roughly one-third the rate that the company has been paying since August. This change, together with the continued dedication and focused execution of our global team, should continue to drive improving results and create new opportunities for growth in both sales and profitability."

Reports Q2 revenue $161.8M vs. $157.0M last year. CEO Efraim Grinberg stated, "We are pleased with our Q2 results, which were highlighted by increased net sales, a healthy gross margin despite tariff impacts, and a significant increase in operating income year over year. Our growth in a challenging environment reflects the power of our iconic portfolio of watch and jewelry brands, our compelling innovation, and the discipline with which we execute. International markets led our performance, driven by our licensed brands, with particular strength in our women's watch collections and men's jewelry. We also experienced growth in our global digital business. We concluded the quarter with $180.5M in cash and no debt, positioning us well to invest in our growth initiatives and continue to return value to shareholders. We are also pleased to announce that our Board declared a quarterly dividend payment of 35c per share. As we look ahead, we remain excited about our opportunities, yet cognizant that the environment remains dynamic and that tariff uncertainty continues. As such, we will continue to focus on areas within our control while introducing sought-after watch and jewelry offerings around the world. We remain confident in our strategy and our ability to generate long-term profitable growth and value creation for our shareholders."