Movado (MOV)
Market Price (10/21/2026): $32.72 | Market Cap: $731.2 MilSector: Consumer Discretionary | Industry: Apparel, Accessories & Luxury Goods
Movado (MOV)
Market Price (10/21/2026): $32.72Market Cap: $731.2 MilSector: Consumer DiscretionaryIndustry: Apparel, Accessories & Luxury Goods
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 10%, Dividend Yield is 4.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.0%, FCF Yield is 9.7% Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -20% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10% Low stock price volatilityVol 12M is 38% Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, and E-commerce & Digital Retail. Themes include Luxury Consumer Goods, Direct-to-Consumer Brands, Show more. | Weak multi-year price returns3Y Excs Rtn is -34% | Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.5% Key risksMOV key risks include [1] significant legal and regulatory penalties from financial misconduct and a material internal control weakness in its Dubai branch, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 10%, Dividend Yield is 4.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.0%, FCF Yield is 9.7% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -20% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10% |
| Low stock price volatilityVol 12M is 38% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, and E-commerce & Digital Retail. Themes include Luxury Consumer Goods, Direct-to-Consumer Brands, Show more. |
| Weak multi-year price returns3Y Excs Rtn is -34% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.5% |
| Key risksMOV key risks include [1] significant legal and regulatory penalties from financial misconduct and a material internal control weakness in its Dubai branch, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 10/8/2026
Movado (MOV) stock has lost about 15% since 6/30/2026 because of the following key factors:
1. Discontinuation of Annual Financial Outlook Introduced Uncertainty. Despite exceeding analyst expectations for its fiscal Q2 2027 (ended July 31, 2026) with adjusted diluted earnings per share of $0.54 against estimates of $0.35, and net sales of $169.8 million surpassing forecasts of $164.2 million, Movado Group's announcement on August 26, 2026, to discontinue providing an annual financial outlook likely unsettled investors. The company instead offered more cautious guidance, expecting second-half fiscal 2027 topline growth in the mid-single-digit range and gross margin between 55%–56% (excluding additional IEEPA duty refunds), which may have signaled reduced visibility or a more conservative future outlook.
2. Persistent Challenging Retail Environment and Regional Headwinds Impacted Growth Prospects. During its fiscal Q2 2027 earnings call, Movado Group highlighted operating in a "challenging retail environment" and noted a decline in international net sales in the Middle East, specifically attributing this to regional headwinds in markets heavily reliant on international tourism. While overall international net sales increased by 4.9% (or 4.1% on a constant-currency basis), these specific pressures and the broader cautious tone on the retail environment may have led investors to re-evaluate the company's growth trajectory amidst a decline in discretionary spending.
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Movado (MOV) stock has lost about 15% since 6/30/2026 because of the following key factors:
1. Discontinuation of Annual Financial Outlook Introduced Uncertainty. Despite exceeding analyst expectations for its fiscal Q2 2027 (ended July 31, 2026) with adjusted diluted earnings per share of $0.54 against estimates of $0.35, and net sales of $169.8 million surpassing forecasts of $164.2 million, Movado Group's announcement on August 26, 2026, to discontinue providing an annual financial outlook likely unsettled investors. The company instead offered more cautious guidance, expecting second-half fiscal 2027 topline growth in the mid-single-digit range and gross margin between 55%–56% (excluding additional IEEPA duty refunds), which may have signaled reduced visibility or a more conservative future outlook.
2. Persistent Challenging Retail Environment and Regional Headwinds Impacted Growth Prospects. During its fiscal Q2 2027 earnings call, Movado Group highlighted operating in a "challenging retail environment" and noted a decline in international net sales in the Middle East, specifically attributing this to regional headwinds in markets heavily reliant on international tourism. While overall international net sales increased by 4.9% (or 4.1% on a constant-currency basis), these specific pressures and the broader cautious tone on the retail environment may have led investors to re-evaluate the company's growth trajectory amidst a decline in discretionary spending.
Show more
Updated on 10/8/2026
Movado (MOV) stock has lost about 15% since 6/30/2026 because of the following key factors:
1. Discontinuation of Annual Financial Outlook Introduced Uncertainty. Despite exceeding analyst expectations for its fiscal Q2 2027 (ended July 31, 2026) with adjusted diluted earnings per share of $0.54 against estimates of $0.35, and net sales of $169.8 million surpassing forecasts of $164.2 million, Movado Group's announcement on August 26, 2026, to discontinue providing an annual financial outlook likely unsettled investors. The company instead offered more cautious guidance, expecting second-half fiscal 2027 topline growth in the mid-single-digit range and gross margin between 55%–56% (excluding additional IEEPA duty refunds), which may have signaled reduced visibility or a more conservative future outlook.
2. Persistent Challenging Retail Environment and Regional Headwinds Impacted Growth Prospects. During its fiscal Q2 2027 earnings call, Movado Group highlighted operating in a "challenging retail environment" and noted a decline in international net sales in the Middle East, specifically attributing this to regional headwinds in markets heavily reliant on international tourism. While overall international net sales increased by 4.9% (or 4.1% on a constant-currency basis), these specific pressures and the broader cautious tone on the retail environment may have led investors to re-evaluate the company's growth trajectory amidst a decline in discretionary spending.
3. Strategic Divestiture of the EBEL Brand. On October 8, 2026, Movado Group entered into a binding agreement to sell a 95% interest in its EBEL brand for $66.5 million. While management stated this move allows the company to sharpen its focus on its core accessible luxury and fashion watch and jewelry portfolio, the divestiture of a luxury brand, even if strategic, could be perceived by some investors as a reduction in the company's overall scale or an indication of underlying challenges within its diversified brand portfolio, contributing to the stock's recent decline.
Show less
Movado (MOV) stock has lost about 15% since 6/30/2026 because of the following key factors:
1. Discontinuation of Annual Financial Outlook Introduced Uncertainty. Despite exceeding analyst expectations for its fiscal Q2 2027 (ended July 31, 2026) with adjusted diluted earnings per share of $0.54 against estimates of $0.35, and net sales of $169.8 million surpassing forecasts of $164.2 million, Movado Group's announcement on August 26, 2026, to discontinue providing an annual financial outlook likely unsettled investors. The company instead offered more cautious guidance, expecting second-half fiscal 2027 topline growth in the mid-single-digit range and gross margin between 55%–56% (excluding additional IEEPA duty refunds), which may have signaled reduced visibility or a more conservative future outlook.
2. Persistent Challenging Retail Environment and Regional Headwinds Impacted Growth Prospects. During its fiscal Q2 2027 earnings call, Movado Group highlighted operating in a "challenging retail environment" and noted a decline in international net sales in the Middle East, specifically attributing this to regional headwinds in markets heavily reliant on international tourism. While overall international net sales increased by 4.9% (or 4.1% on a constant-currency basis), these specific pressures and the broader cautious tone on the retail environment may have led investors to re-evaluate the company's growth trajectory amidst a decline in discretionary spending.
3. Strategic Divestiture of the EBEL Brand. On October 8, 2026, Movado Group entered into a binding agreement to sell a 95% interest in its EBEL brand for $66.5 million. While management stated this move allows the company to sharpen its focus on its core accessible luxury and fashion watch and jewelry portfolio, the divestiture of a luxury brand, even if strategic, could be perceived by some investors as a reduction in the company's overall scale or an indication of underlying challenges within its diversified brand portfolio, contributing to the stock's recent decline.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -15.6% change in MOV stock from 6/30/2026 to 10/20/2026 was primarily driven by a -34.2% change in the company's P/E Multiple.| (LTM values as of) | 6302026 | 10202026 | Change |
|---|---|---|---|
| Stock Price ($) | 38.85 | 32.77 | -15.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 682 | 690 | 1.2% |
| Net Income Margin (%) | 4.7% | 6.0% | 27.6% |
| P/E Multiple | 26.9 | 17.7 | -34.2% |
| Shares Outstanding (Mil) | 22 | 22 | -0.7% |
| Cumulative Contribution | -15.6% |
Market Drivers
6/30/2026 to 10/20/2026| Return | Correlation | |
|---|---|---|
| MOV | -15.6% | |
| Market (SPY) | 3.0% | 35.1% |
| Sector (XLY) | -1.5% | 47.1% |
Fundamental Drivers
The 39.3% change in MOV stock from 3/31/2026 to 10/20/2026 was primarily driven by a 51.6% change in the company's Net Income Margin (%).| (LTM values as of) | 3312026 | 10202026 | Change |
|---|---|---|---|
| Stock Price ($) | 23.53 | 32.77 | 39.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 671 | 690 | 2.8% |
| Net Income Margin (%) | 4.0% | 6.0% | 51.6% |
| P/E Multiple | 19.7 | 17.7 | -10.0% |
| Shares Outstanding (Mil) | 22 | 22 | -0.7% |
| Cumulative Contribution | 39.3% |
Market Drivers
3/31/2026 to 10/20/2026| Return | Correlation | |
|---|---|---|
| MOV | 39.3% | |
| Market (SPY) | 18.6% | 30.8% |
| Sector (XLY) | 6.2% | 42.8% |
Fundamental Drivers
The 82.3% change in MOV stock from 9/30/2025 to 10/20/2026 was primarily driven by a 127.5% change in the company's Net Income Margin (%).| (LTM values as of) | 9302025 | 10202026 | Change |
|---|---|---|---|
| Stock Price ($) | 17.98 | 32.77 | 82.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 656 | 690 | 5.2% |
| Net Income Margin (%) | 2.6% | 6.0% | 127.5% |
| P/E Multiple | 23.2 | 17.7 | -23.6% |
| Shares Outstanding (Mil) | 22 | 22 | -0.3% |
| Cumulative Contribution | 82.3% |
Market Drivers
9/30/2025 to 10/20/2026| Return | Correlation | |
|---|---|---|
| MOV | 82.3% | |
| Market (SPY) | 16.4% | 36.0% |
| Sector (XLY) | -3.0% | 43.3% |
Fundamental Drivers
The 45.6% change in MOV stock from 9/30/2023 to 10/20/2026 was primarily driven by a 130.0% change in the company's P/E Multiple.| (LTM values as of) | 9302023 | 10202026 | Change |
|---|---|---|---|
| Stock Price ($) | 22.51 | 32.77 | 45.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 703 | 690 | -1.9% |
| Net Income Margin (%) | 9.2% | 6.0% | -35.2% |
| P/E Multiple | 7.7 | 17.7 | 130.0% |
| Shares Outstanding (Mil) | 22 | 22 | -0.5% |
| Cumulative Contribution | 45.6% |
Market Drivers
9/30/2023 to 10/20/2026| Return | Correlation | |
|---|---|---|
| MOV | 45.6% | |
| Market (SPY) | 86.1% | 40.1% |
| Sector (XLY) | 46.8% | 45.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MOV Return | 159% | -20% | 2% | -31% | 14% | 65% | 177% |
| Peers Return | 69% | -20% | 4% | 16% | 60% | 18% | 205% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 104% |
Monthly Win Rates [3] | |||||||
| MOV Win Rate | 67% | 33% | 50% | 33% | 58% | 50% | |
| Peers Win Rate | 62% | 45% | 47% | 52% | 58% | 56% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| MOV Max Drawdown | -19% | -31% | -31% | -38% | -35% | -20% | |
| Peers Max Drawdown | -32% | -49% | -44% | -37% | -43% | -32% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: FOSL, SIG, CPRI, TPR, RL. See MOV Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/20/2026 (YTD)
How Low Can It Go
| Event | MOV | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -35.4% | -18.8% |
| % Gain to Breakeven | 54.9% | 23.1% |
| Time to Breakeven | 142 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -26.9% | -6.7% |
| % Gain to Breakeven | 36.8% | 7.1% |
| Time to Breakeven | 1079 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -31.3% | -24.5% |
| % Gain to Breakeven | 45.5% | 32.4% |
| Time to Breakeven | 1335 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -46.0% | -33.7% |
| % Gain to Breakeven | 85.1% | 50.9% |
| Time to Breakeven | 242 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -25.5% | -19.2% |
| % Gain to Breakeven | 34.3% | 23.8% |
| Time to Breakeven | 94 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -10.5% | -12.2% |
| % Gain to Breakeven | 11.8% | 13.9% |
| Time to Breakeven | 2 days | 62 days |
In The Past
Movado's stock fell -35.4% during the 2025 US Tariff Shock. Such a loss loss requires a 54.9% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | MOV | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -35.4% | -18.8% |
| % Gain to Breakeven | 54.9% | 23.1% |
| Time to Breakeven | 142 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -26.9% | -6.7% |
| % Gain to Breakeven | 36.8% | 7.1% |
| Time to Breakeven | 1079 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -31.3% | -24.5% |
| % Gain to Breakeven | 45.5% | 32.4% |
| Time to Breakeven | 1335 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -46.0% | -33.7% |
| % Gain to Breakeven | 85.1% | 50.9% |
| Time to Breakeven | 242 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -25.5% | -19.2% |
| % Gain to Breakeven | 34.3% | 23.8% |
| Time to Breakeven | 94 days | 105 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -41.5% | -6.8% |
| % Gain to Breakeven | 71.0% | 7.3% |
| Time to Breakeven | 947 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -36.2% | -17.9% |
| % Gain to Breakeven | 56.6% | 21.8% |
| Time to Breakeven | 66 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -23.2% | -15.4% |
| % Gain to Breakeven | 30.1% | 18.2% |
| Time to Breakeven | 148 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -82.5% | -53.4% |
| % Gain to Breakeven | 471.2% | 114.4% |
| Time to Breakeven | 1142 days | 1085 days |
In The Past
Movado's stock fell -35.4% during the 2025 US Tariff Shock. Such a loss loss requires a 54.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Movado (MOV)
Movado Group, Inc. (MOV) is a global company specializing in the design, sourcing, marketing, and distribution of watches. The company operates primarily through two segments: its portfolio of Watch and Accessory Brands, and its network of Company Stores. Movado offers a comprehensive range of timepieces under both its owned proprietary brands and through strategic licensing agreements with various well-known fashion and lifestyle brands.
The company's own brands include Movado, Concord, Ebel, Olivia Burton, and MVMT, catering to different market segments and consumer preferences. Beyond its proprietary offerings, Movado manufactures and distributes watches for licensed brands such as Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, Calvin Klein, and Scuderia Ferrari. In addition to watch sales, Movado also provides important after-sales support and shipping services for its products.
Movado serves a diverse array of customers and markets worldwide. Its distribution channels include major jewelry store chains, department stores, independent regional jewelers, and a broad network of independent distributors. The company also has a significant presence in online marketplaces, through third-party e-commerce retailers, and within its licensors' retail stores. Moreover, Movado directly reaches consumers via its own e-commerce platforms and a global network of physical retail outlet locations.
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It's like EssilorLuxottica, but for watches.
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- Watches: The company designs, sources, markets, and distributes watches under various owned and licensed brands globally.
- After-sales Services: Movado provides support and maintenance services for its watches after purchase.
- Shipping Services: The company offers services for the delivery of its products to customers.
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Movado (MOV) primarily sells to other businesses, which then distribute and sell Movado Group's products to end consumers. Based on the provided company description, its major business-to-business (B2B) customers include:
- Jewelry store chains
- Department stores
- Independent regional jewelers
- Networks of independent distributors
- Online marketplaces
- Licensors' retail stores
- Third-party e-commerce retailers
The company also sells directly to consumers through its e-commerce platforms and its 51 retail outlet locations.
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Efraim Grinberg, Chairman and Chief Executive Officer
Efraim Grinberg inherited his passion for watches from his father, Gedalio "Gerry" Grinberg, who founded the North American Watch Corporation, the precursor to today's Movado Group. He joined Movado Group in June 1980 and served in various marketing roles before becoming President and Chief Operating Officer from 1990 to 1995, and then President from 1995 to 2001. In May 2001, he was elected President and Chief Executive Officer, and became Chairman of the Board in January 2009. Mr. Grinberg oversaw the company's initial public offering in 1993 and has been instrumental in building Movado Group into a global enterprise. Under his leadership, Movado Group completed the sale of Piaget's business in 1999.
Sallie A. DeMarsilis, Executive Vice President and Chief Financial Officer
Sallie A. DeMarsilis joined Movado Group in January 2008. Prior to her tenure at Movado, she worked for Deloitte. Her responsibilities as CFO encompass finance, forecasting, investor relations, financial reporting, treasury, taxes, and new business and licensing agreements.
Behzad Soltani, Executive Vice President, Chief Operating Officer
Behzad Soltani joined Movado Group in March 2018 as Chief Digital Officer, where he was tasked with developing the company's Digital Center of Excellence. He was promoted to Executive Vice President, Commercial President & Chief Technology Officer in June 2020, and subsequently became Executive Vice President, Chief Operating Officer in September 2024, taking primary responsibility for operations. Before joining Movado, Mr. Soltani held significant roles including Vice President and General Manager of B2B at Boxed, Vice President and General Manager of e-commerce at Keurig, and senior positions at Staples and FedEx Office.
Alexander Grinberg, Senior Vice President of Customer/Consumer Centric Initiatives and Director
Alexander Grinberg started with Movado Group in December 1994 as a territory manager for the Movado brand. He advanced to Vice President of International Sales for the Concord brand in June 1996. From February 1999 to October 2001, Mr. Grinberg was based in the Far East, where he focused on developing Movado Group brands in Hong Kong and Japan.
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The key risks to Movado Group, Inc.'s business are:
- Weak Consumer Demand and Macroeconomic Headwinds: The company operates in the consumer discretionary sector, making it highly susceptible to broader macroeconomic conditions. There is ongoing global retail uncertainty and weakening consumer demand, which directly translates into lower sales volumes and increased pressure for discounting. Adverse economic conditions in key markets further exacerbate this risk.
- Internal Control Weakness, Financial Restatements, and Securities Fraud Investigation: Movado Group, Inc. is currently under investigation for potential securities fraud due to misconduct in its Dubai branch, involving overstated sales and underreported credit notes. This has led to the need to restate financial statements for fiscal years ending January 31, 2024, 2023, and 2022. The company also identified a material weakness in its internal control over financial reporting, specifically concerning its risk assessment process related to the Dubai Branch. This risk significantly impacts financial reporting integrity, investor confidence, and could result in legal and reputational damage.
- Intense Competition and Challenges to Brand Relevance: Movado operates in a fiercely competitive landscape, facing rivals across luxury, fashion, and value-oriented timepiece segments. The global watch industry has been fundamentally reshaped by the rise of smartwatches, which now account for over 40% of all unit sales, posing a significant threat to traditional watch sales. The company faces intense competition from specialized high-end watch brands, mass-market players, and smartwatch behemoths, requiring continuous innovation and strategic efforts to maintain brand relevance.
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The continued expansion and technological advancement of smartwatches, which offer features beyond traditional timekeeping, directly compete for wrist real estate and consumer spend, particularly in the fashion and accessory watch segments.AI Analysis | Feedback
The addressable markets for Movado's main products are estimated as follows:
- Global Watch Market: The global watch market was valued at approximately USD 78.0 billion in 2024 and is projected to reach USD 113.8 billion by 2033, demonstrating a compound annual growth rate (CAGR) of 4.25% from 2025 to 2033. Another estimate places the global watch market at USD 75.8 billion in 2024, with a projected growth to USD 116.7 billion by 2034 at a CAGR of 4.5%. A higher estimate for the global watch market size was USD 103.01 billion in 2024, expected to grow to USD 158.19 billion by 2033 with a CAGR of 4.8% during the forecast period.
- Global Luxury Watch Market: The global luxury watch market was valued at approximately USD 29.1 billion in 2024 and is estimated to grow to USD 37.0 billion by 2033, with a CAGR of 2.65% from 2025-2033. Other reports indicate the global luxury watch market was valued at around USD 53.69 billion in 2024 and is projected to reach USD 72.9 billion by 2030, at a CAGR of about 5.23% from 2025-2030. Another source valued the global luxury watch market at USD 46.3 billion in 2024, with a forecast to reach USD 77.3 billion by 2033 at a CAGR of 5.08% during 2024–2033.
- U.S. Watch Market: The United States watch market was valued at approximately USD 22.77 billion in 2024 and is expected to grow to USD 34.34 billion by 2033, exhibiting a CAGR of 4.67% between 2025 and 2033. Another estimate for the U.S. watch market size was USD 22.08 billion in 2024, projected to reach USD 35.1 billion by 2035 at a CAGR of approximately 4.3% from 2025 to 2035.
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Expected Drivers of Future Revenue Growth for Movado (MOV)
- New Product Development and Innovative Assortments: Movado's future revenue growth is expected to be driven by the development of new watch designs and the continued success of innovative watch and jewelry assortments across its brands. This strategy has shown positive reception, particularly in Europe and the United States.
- Strategic Marketing and Brand Building Initiatives: The company plans a "groundbreaking evolution" of its Movado brand advertising campaign in fiscal 2025 and into fiscal 2026, which is anticipated to accelerate growth. This aligns with prudently investing in brand building initiatives.
- Growth in Direct-to-Consumer (DTC) Channels: Movado has experienced double-digit growth for the Movado brand in its direct-to-consumer channels. The company's focus on digital channels is also noted as a payoff.
- International Market Expansion with emphasis on Europe for Licensed Brands: Movado expects its licensed brands to return to growth in the current fiscal year, with a strong focus on Europe, which is its largest market for this segment.
- Benefiting from Tariff Relief: An agreement between Switzerland and the United States to reduce tariffs on Swiss watches by 15% is considered a forward catalyst for Movado, potentially improving profitability and competitiveness.
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[1] Share Repurchases
- During fiscal year 2025 (ended January 31, 2025), Movado Group, Inc. repurchased approximately 120,000 shares under its November 23, 2021, share repurchase program.
- A new share repurchase program was authorized on December 5, 2024, allowing for the purchase of up to $50.0 million of outstanding stock through December 5, 2027.
- As of July 31, 2025, $48.4 million remained available under the December 5, 2024, share repurchase program, after approximately 100,000 shares were repurchased in the first six months of fiscal year 2026 (ended July 31, 2025).
[2] Share Issuance
- No explicit dollar amounts for share issuances were identified, but the number of outstanding shares shows slight variations. For instance, Common Stock outstanding was 16,238,767 as of March 21, 2022, and 15,643,432 as of March 20, 2024.
[4] Outbound Investments
- Movado Group, Inc. fully impaired a $0.5 million equity investment in a consumer products company in the first quarter of fiscal year 2024 (ended January 31, 2024), as the company sold its business with little return for equity holders.
[5] Capital Expenditures
- Capital expenditures were $8.075 million in fiscal year 2025 (ended January 31, 2025), $8.367 million in fiscal year 2024, and $7.3 million in fiscal year 2023.
- The company expects capital expenditures to be approximately $10 million in fiscal year 2026, primarily focused on ordinary business projects, including facilities improvements and technology upgrades.
Peer Outperformance in Apparel, Accessories & Luxury Goods
MOV has outperformed 82% of its 28 Apparel, Accessories & Luxury Goods peers over 5Y. Apparel, Accessories & Luxury Goods ranks 17th of 23 industries in Consumer Discretionary by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Apparel, Accessories & Luxury Goods constituents that MOV has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
89%
of 28 industry peers · 82.6% return
3Y
54%
of 28 industry peers · 40.9% return
5Y
82%
of 28 industry peers · 32.2% return
No Apparel, Accessories & Luxury Goods peer with a comparable growth profile has beaten MOV by more than 20pp over 5Y.
Median price return by industry across the Consumer Discretionary sector, ranked by 5Y. Apparel, Accessories & Luxury Goods is MOV's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Education Services | 14 | -20.6% | 77.0% | 88.7% | CVSA 257% · PRDO 239% · LRN 124% |
| Homebuilding | 17 | -9.0% | 37.5% | 23.6% | GRBK 163% · PHM 139% · TOL 135% |
| Hotels, Resorts & Cruise Lines | 21 | 15.4% | 51.9% | 19.7% | RCL 255% · MAR 170% · HLT 160% |
| Specialty Stores | 7 | 13.9% | 40.7% | 19.6% | ASO 50% · DKS 35% · FIVE 20% |
| Home Furnishings | 3 | -7.2% | 49.2% | -3.1% | SGI 44% · MHK -37% |
| Home Improvement Retail | 5 | -16.9% | 10.0% | -3.8% | HD 0% · LOW -4% · FND -65% |
| Automotive Retail | 17 | -13.6% | 12.8% | -7.5% | MUSA 218% · PAG 131% · ORLY 110% |
| Footwear | 9 | 68.6% | 45.1% | -10.7% | DECK 46% · SHOO 19% · CROX -11% |
| Specialized Consumer Services | 10 | -12.7% | 23.3% | -11.5% | HRB 132% · FTDR 88% · SCI 43% |
| Restaurants | 37 | -7.8% | -2.3% | -18.7% | EAT 342% · CAKE 215% · TXRH 109% |
| Distributors | 4 | -14.1% | -19.1% | -22.6% | ARMK 128% · GPC 10% · LKQ -55% |
| Apparel Retail | 26 | 4.8% | 0.9% | -38.2% | ANF 328% · TJX 147% · ROST 129% |
| Leisure Facilities | 12 | 7.7% | -1.9% | -38.4% | LTH 139% · OSW 120% · PLNT -31% |
| Household Appliances | 18 | -0.8% | 4.0% | -41.8% | |
| Computer & Electronics Retail | 3 | 13.3% | 58.2% | -42.6% | BBY 4% · GME -43% |
| Leisure Products | 14 | -17.0% | -17.0% | -42.9% | GOLF 78% · HAS 47% · MAT -15% |
| Apparel, Accessories & Luxury Goods ← | 29 | 2.5% | 19.3% | -44.8% | RL 251% · TPR 246% · KTB 77% |
| Automotive Parts & Equipment | 39 | -13.8% | -12.9% | -48.2% | MOD 1127% · GTX 231% · BWA 56% |
| Casinos & Gaming | 20 | -12.6% | -24.3% | -48.4% | MCRI 89% · BYD 13% · RRR 11% |
| Broadline Retail | 14 | -2.3% | 23.8% | -52.3% | EBAY 74% · AMZN 54% · OLLI 39% |
| Other Specialty Retail | 17 | -29.4% | -33.8% | -77.7% | ULTA 68% · TSCO -11% · BBWI -66% |
| Automobile Manufacturers | 8 | -72.5% | -56.0% | -77.8% | GM 39% · TSLA 29% · F 3% |
| Consumer Electronics | 11 | -31.0% | -30.6% | -79.3% | GRMN 98% · SONO -47% |
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
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Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 74.22 |
| Mkt Cap | 1.9 |
| Rev LTM | 3,446 |
| Op Inc LTM | 81 |
| FCF LTM | 83 |
| FCF 3Y Avg | 133 |
| CFO LTM | 158 |
| CFO 3Y Avg | 233 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.2% |
| Rev Chg 3Y Avg | -0.5% |
| Rev Chg Q | 4.9% |
| QoQ Delta Rev Chg LTM | 1.2% |
| Op Inc Chg LTM | 28.6% |
| Op Inc Chg 3Y Avg | 14.4% |
| Op Mgn LTM | 6.9% |
| Op Mgn 3Y Avg | 5.0% |
| QoQ Delta Op Mgn LTM | 0.4% |
| CFO/Rev LTM | 10.9% |
| CFO/Rev 3Y Avg | 6.5% |
| FCF/Rev LTM | 10.3% |
| FCF/Rev 3Y Avg | 5.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 1.9 |
| P/S | 1.1 |
| P/Op Inc | 16.6 |
| P/EBIT | 13.9 |
| P/E | 15.5 |
| P/CFO | 12.0 |
| Total Yield | 7.8% |
| Dividend Yield | 1.0% |
| FCF Yield 3Y Avg | 5.8% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 12.6% |
| 3M Rtn | 1.4% |
| 6M Rtn | 6.6% |
| 12M Rtn | 13.4% |
| 3Y Rtn | 154.7% |
| 1M Excs Rtn | 14.9% |
| 3M Excs Rtn | -2.0% |
| 6M Excs Rtn | -1.8% |
| 12M Excs Rtn | 0.2% |
| 3Y Excs Rtn | 90.4% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Watch and Accessory Brands | 568 | 556 | 560 | 633 | 626 |
| Company Stores | 103 | 97 | 104 | 112 | 106 |
| Total | 671 | 653 | 664 | 744 | 732 |
| $ Mil | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Watch and Accessory Brands | 15 | 8 | 31 | 90 | 86 |
| Company Stores | 15 | 12 | 17 | 25 | 32 |
| Total | 30 | 20 | 48 | 116 | 117 |
| $ Mil | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Watch and Accessory Brands | 690 | 668 | 697 | 722 | 702 |
| Company Stores | 53 | 61 | 59 | 65 | 59 |
| Total | 743 | 729 | 756 | 788 | 761 |
Price Behavior
Price Behavior
| Market Price | $32.77 | |
| Market Cap ($ Bil) | 0.7 | |
| First Trading Date | 09/30/1993 | |
| Distance from 52W High | -16.6% | |
| 50 Days | 200 Days | |
| DMA Price | $33.58 | $29.99 |
| DMA Trend | down | up |
| Distance from DMA | -2.4% | 9.3% |
| 3M | 1YR | |
| Volatility | 23.1% | 37.5% |
| Downside Capture | 130.54 | 93.18 |
| Upside Capture | 45.38 | 156.70 |
| Correlation (S&P 500) | 33.0% | 34.3% |
MOV Betas & Captures as of 9/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.55 | 0.62 | 0.93 | 1.01 | 1.08 | 0.96 |
| Up Beta | -0.40 | 0.88 | 0.12 | 0.65 | 0.63 | 0.95 |
| Down Beta | 0.97 | -0.14 | 0.73 | 0.70 | 1.31 | 0.89 |
| Up Capture | 52% | 18% | 82% | 157% | 179% | 92% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 10 | 18 | 28 | 64 | 127 | 373 |
| Down Capture | 83% | 146% | 176% | 102% | 90% | 102% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 12 | 24 | 36 | 62 | 124 | 373 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MOV | |
|---|---|---|---|---|
| MOV | 94.0% | 37.5% | 1.83 | - |
| Sector ETF (XLY) | -0.9% | 19.2% | -0.18 | 41.8% |
| Equity (SPY) | 16.8% | 12.7% | 0.93 | 33.1% |
| Gold (GLD) | -2.9% | 29.3% | -0.10 | 12.8% |
| Commodities (DBC) | 52.5% | 20.7% | 1.93 | -31.3% |
| Real Estate (VNQ) | 5.1% | 13.8% | 0.11 | 29.6% |
| Bitcoin (BTCUSD) | -23.7% | 43.6% | -0.50 | 9.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MOV | |
|---|---|---|---|---|
| MOV | 6.5% | 39.0% | 0.26 | - |
| Sector ETF (XLY) | 5.6% | 24.1% | 0.19 | 50.9% |
| Equity (SPY) | 13.6% | 17.1% | 0.61 | 47.4% |
| Gold (GLD) | 18.1% | 18.9% | 0.77 | 4.6% |
| Commodities (DBC) | 9.7% | 19.5% | 0.38 | 5.3% |
| Real Estate (VNQ) | 1.4% | 18.9% | -0.03 | 40.2% |
| Bitcoin (BTCUSD) | 7.7% | 51.7% | 0.33 | 23.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MOV | |
|---|---|---|---|---|
| MOV | 8.2% | 46.7% | 0.34 | - |
| Sector ETF (XLY) | 12.3% | 22.2% | 0.50 | 41.6% |
| Equity (SPY) | 15.3% | 17.9% | 0.72 | 41.0% |
| Gold (GLD) | 12.1% | 16.4% | 0.60 | -0.4% |
| Commodities (DBC) | 8.2% | 18.1% | 0.37 | 11.9% |
| Real Estate (VNQ) | 5.2% | 20.7% | 0.21 | 37.9% |
| Bitcoin (BTCUSD) | 62.9% | 66.2% | 1.03 | 11.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 9/29/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/26/2026 | 0.1% | -2.9% | -3.3% |
| 5/27/2026 | 15.0% | 25.8% | 29.1% |
| 3/19/2026 | 9.5% | 5.3% | 25.0% |
| 11/25/2025 | 6.1% | 9.0% | 10.4% |
| 8/28/2025 | 1.8% | 10.2% | 9.7% |
| 5/29/2025 | -6.9% | -8.2% | -9.2% |
| 12/5/2024 | -0.3% | 2.2% | -3.2% |
| 9/5/2024 | -14.7% | -18.9% | -12.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 12 | 13 |
| # Negative | 9 | 10 | 9 |
| Median Positive | 7.1% | 6.5% | 5.6% |
| Median Negative | -6.9% | -5.6% | -8.4% |
| Max Positive | 18.6% | 32.4% | 45.4% |
| Max Negative | -14.7% | -18.9% | -15.0% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/26/2026 | 0.1% | -2.9% | -3.3% |
| 5/27/2026 | 15.0% | 25.8% | 29.1% |
| 3/19/2026 | 9.5% | 5.3% | 25.0% |
| 11/25/2025 | 6.1% | 9.0% | 10.4% |
| 8/28/2025 | 1.8% | 10.2% | 9.7% |
| 5/29/2025 | -6.9% | -8.2% | -9.2% |
| 12/5/2024 | -0.3% | 2.2% | -3.2% |
| 9/5/2024 | -14.7% | -18.9% | -12.9% |
| 5/30/2024 | -1.8% | -1.7% | -5.8% |
| 3/26/2024 | 0.7% | 3.1% | 0.1% |
| 11/30/2023 | -9.8% | -6.8% | 5.4% |
| 8/24/2023 | 0.5% | 2.8% | 1.0% |
| 5/25/2023 | -1.2% | -3.1% | 5.6% |
| 3/23/2023 | -14.5% | -13.1% | -15.0% |
| 11/22/2022 | -10.1% | -6.0% | -8.4% |
| 8/25/2022 | 2.5% | -5.3% | -13.3% |
| 5/26/2022 | 14.3% | 6.4% | 3.2% |
| 3/24/2022 | 8.9% | 18.7% | 10.4% |
| 8/26/2021 | 7.1% | 6.6% | -1.4% |
| 5/27/2021 | -2.1% | -1.8% | 4.1% |
| 3/25/2021 | 18.6% | 32.4% | 45.4% |
| 11/24/2020 | 10.6% | 1.1% | 4.6% |
| SUMMARY STATS | |||
| # Positive | 13 | 12 | 13 |
| # Negative | 9 | 10 | 9 |
| Median Positive | 7.1% | 6.5% | 5.6% |
| Median Negative | -6.9% | -5.6% | -8.4% |
| Max Positive | 18.6% | 32.4% | 45.4% |
| Max Negative | -14.7% | -18.9% | -15.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 07/31/2026 | 08/26/2026 | 10-Q |
| 04/30/2026 | 05/27/2026 | 10-Q |
| 01/31/2026 | 03/19/2026 | 10-K |
| 10/31/2025 | 11/25/2025 | 10-Q |
| 07/31/2025 | 08/28/2025 | 10-Q |
| 04/30/2025 | 05/29/2025 | 10-Q |
| 01/31/2025 | 04/16/2025 | 10-K |
| 10/31/2024 | 12/05/2024 | 10-Q |
| 07/31/2024 | 09/05/2024 | 10-Q |
| 04/30/2024 | 05/30/2024 | 10-Q |
| 01/31/2024 | 03/26/2024 | 10-K |
| 10/31/2023 | 11/30/2023 | 10-Q |
| 07/31/2023 | 08/24/2023 | 10-Q |
| 04/30/2023 | 05/25/2023 | 10-Q |
| 01/31/2023 | 03/23/2023 | 10-K |
| 10/31/2022 | 11/22/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 07/31/2026 | 08/26/2026 | 10-Q |
| 04/30/2026 | 05/27/2026 | 10-Q |
| 01/31/2026 | 03/19/2026 | 10-K |
| 10/31/2025 | 11/25/2025 | 10-Q |
| 07/31/2025 | 08/28/2025 | 10-Q |
| 04/30/2025 | 05/29/2025 | 10-Q |
| 01/31/2025 | 04/16/2025 | 10-K |
| 10/31/2024 | 12/05/2024 | 10-Q |
| 07/31/2024 | 09/05/2024 | 10-Q |
| 04/30/2024 | 05/30/2024 | 10-Q |
| 01/31/2024 | 03/26/2024 | 10-K |
| 10/31/2023 | 11/30/2023 | 10-Q |
| 07/31/2023 | 08/24/2023 | 10-Q |
| 04/30/2023 | 05/25/2023 | 10-Q |
| 01/31/2023 | 03/23/2023 | 10-K |
| 10/31/2022 | 11/22/2022 | 10-Q |
| 07/31/2022 | 08/25/2022 | 10-Q |
| 04/30/2022 | 05/26/2022 | 10-Q |
| 01/31/2022 | 03/24/2022 | 10-K |
| 10/31/2021 | 11/23/2021 | 10-Q |
| 07/31/2021 | 08/26/2021 | 10-Q |
| 04/30/2021 | 05/27/2021 | 10-Q |
| 01/31/2021 | 03/25/2021 | 10-K |
| 10/31/2020 | 11/24/2020 | 10-Q |
| 07/31/2020 | 08/27/2020 | 10-Q |
| 04/30/2020 | 06/09/2020 | 10-Q |
| 01/31/2020 | 03/26/2020 | 10-K |
| 10/31/2019 | 11/26/2019 | 10-Q |
Recent Forward Guidance
Updated 10/4/2026Latest: Q2 2027 Earnings Reported 8/26/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2027 Topline Growth | Reported | 5.0% | ||||||
| 2027 Gross Margin | Reported | 55.0% | 55.5% | 56.0% | ||||
Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Apparel, Accessories & Luxury Goods Resources |
| Vogue Business |
| Jing Daily |
| Luxury Daily |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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Core Cache Last Updated: 10/20/2026