Movado Group shares rise 3% after second-quarter earnings and revenue beat forecasts

MOVADO GROUP INC (MOV) filed an SEC Form 8-K — Other Events. EXHIBIT 99.1 MOVADO GROUP, INC. ENTERS INTO AGREEMENT TO SELL MAJORITY INTEREST IN EBEL Paramus, NJ – October 8, 2026 – Movado Group, Inc. (NYSE: MOV) today announced that it has entered into a binding agreement to sell a 95% interest in its EBEL brand for $66.5 million to a stra

Movado Group agreed to sell 95% of Swiss watchmaker Ebel to a group led by F.P. Journe, with Chanel and Pierre Jacques. The $66.5M deal includes trademarks, inventory, and a historic villa. Movado retains 5% and will focus on other brands. The new owners aim to leverage Ebel's heritage and product quality.

Movado Group (MOV) sold 95% of its EBEL brand for $66.5M to a group led by Montres Journe SA, including Chanel. The deal allows MOV to focus on its core portfolio.

Movado Group (NYSE:MOV) agreed to sell 95% of its EBEL brand to a group led by Montres Journe SA, Chanel, and Pierre Jacques for $66.5 million. Movado will retain 5% and the deal is expected to close in a few months. The sale includes EBEL's assets, trademarks, and inventory. Movado's CEO cited strategic portfolio management as the reason for the sale.

Movado Group (NYSE: MOV) reported two consecutive quarters of earnings beats, with shares up 60% year-to-date. Analysts rate it a Strong Buy, with an average price target of $40, implying 22% upside. The company benefited from tariff refunds and a shift in consumer preferences toward traditional watches. However, investors should consider potential margin pressures and competition from smartwatches.

Movado (NYSE: MOV) reported Q2 CY2026 revenue of $169.8M, up 4.9% YoY, and EPS of $0.53, 50.4% above estimates. Growth was driven by product innovation and pricing actions, with strong demand from younger consumers. Management expects gross margins to decline in H2 due to fading tariff benefits, but remains focused on long-term profitability.