Movado Group Inc. reported its financial results for the first quarter of fiscal 2026, ending April 30, 2025. The company recorded net sales of $131.8 million, a decrease of 1.9% from $134.4 million in the same period of fiscal 2025. This decline was attributed to reduced sales in owned brands and Movado Company Stores, partially offset by an increase in licensed brand sales. U.S. net sales fell by 1.6%, while international net sales decreased by 2.2%, adjusting to a 0.7% decline on a constant dollar basis. The company posted an operating income of $0.3 million, which included $0.6 million in expenses related to a cost-savings initiative, compared to $2.1 million in the prior year period. Adjusted operating income was reported at $0.9 million. The gross margin slightly declined to 54.1% from 54.3% in the previous year. Movado ended the quarter with $203.1 million in cash and no debt. Diluted earnings per share stood at $0.06, down from $0.09 in the same quarter last year, while adjusted diluted earnings per share were $0.08. The board approved a quarterly dividend of $0.35 per share. Efraim Grinberg, Chairman and CEO, highlighted that the company successfully navigated a challenging retail environment, emphasizing operational efficiency and product innovation. The licensed brand portfolio performed well, showing strength in the fashion watch category, and the Movado brand received positive feedback for new product introductions during the Mother's Day period.