By Adriano Marchese

Movado Group's fiscal third-quarter profit doubled as demand in Europe and the U.S. drove sales.

The purveyor of luxury watches and accessories on Tuesday posted a higher net income of $9.58 million, or 42 cents a share for the quarter ended Oct. 31, compared with $4.83 million, or 21 cents a share, in the same quarter a year earlier.

Gross margin in the quarter came to 54.3%, an 80-basis-point expansion over 53.5% in the prior-year period.

Sales rose to $186.1 million from $180.5 million a year earlier, as restated, thanks largely to an increase in licensed brands and the company stores segment.

Movado has two segments--its owned brands and licensed brands. Company-owned brands include Movado, Concord and Ebel while it has licenses for the Hugo Boss, Calvin Klein and Tommy Hilfiger brands, among others.

Chairman and Chief Executive Efraim Grinberg said the company benefited from a momentum of interest in the fashion-watch category among younger consumers, especially in Europe and the U.S.

Swiss watchmakers such as Movado have breathed a sigh of relief in regard to U.S. trade relations. Looking ahead, the company said it will benefit from the trade agreement between the U.S. and Switzerland that will reduce the overall tariff rate on Swiss watches to 15%, which is roughly one-third the rate that the company has been paying since August.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

November 25, 2025 07:11 ET (12:11 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.