By Adriano Marchese

Movado Group increased its dividend after posting higher first-quarter profit and sales, but said that it expects sales growth to moderate in the second quarter.

The watch and fashion accessories company said that its board approved a 5 cent increase to its quarterly dividend, bringing the payout to 40 cents every three months.

Movado said that it chose not to provide an outlook for its fiscal 2027, citing geopolitical uncertainty and the unpredictability of tensions in the Middle East.

However, the company said it expects net sales growth to moderate in the second quarter after the first quarter benefited from foreign exchange rates.

For the three months ended April 30, Movado posted net income of $6.9 million, or 30 cents a share, compared with $1.4 million, or 6 cents a share, in the same quarter a year prior.

Adjusted earnings were 32 cents a share, up from 8 cents a share.

Net sales rose to $142.4 million from $131.8 million. The performance--driven by strong demand across its main markets in the U.S. and Europe--offset declines in the Middle East as regional tensions continue to add pressure. In the U.S., net sales increased 8.7%, while international sales were up 7.6%.

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

(END) Dow Jones Newswires

May 27, 2026 07:29 ET (11:29 GMT)

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