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Equity | 6 Months Ended
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Jul. 31, 2025
Equity [Abstract] |
Equity | NOTE 11 – EQUITY The components of equity for the three and six months ended July 31, 2025 and 2024 are as follows (in thousands):
|  |  |  |  |  |  |  | Movado Group, Inc. Shareholders' Equity |  |  |  |  |  |  |
|  | Preferred Stock |  |  | Common Stock Shares (1) |  |  | Common Stock Amount |  |  | Class A Common Stock Shares (2) |  |  | Class A Common Stock Amount |  |  | Capital in Excess of Par Value |  |  | Retained Earnings |  |  | Accumulated Other Comprehensive Income |  |  | Treasury Stock |  |  | Noncontrolling Interest |  |  | Total Movado Group, Inc. Shareholders' Equity |
Balance, April 30, 2025 |  | $ | — |  |  |  | 29,296 |  |  | $ | 293 |  |  |  | 6,458 |  |  | $ | 64 |  |  | $ | 244,571 |  |  | $ | 440,341 |  |  | $ | 97,493 |  |  | $ | (289,534 | ) |  | $ | 2,172 |  |  | $ | 495,400 |
Net income attributable to Movado Group, Inc. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,986 |  |  |  |  |  |  |  |  |  | 152 |  |  |  | 3,138 |
Dividends ($0.35 per share) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (7,774 | ) |  |  |  |  |  |  |  |  |  |  |  | (7,774 | )
Stock awards and options exercised |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |
Stock repurchases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,594 | ) |  |  |  |  |  | (1,594 | )
Conversion of Class A Common Stock to Common Stock |  |  |  |  |  | 3 |  |  |  |  |  |  | (3 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Supplemental executive retirement plan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 19 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 19 |
Stock-based compensation expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,042 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,042 |
Net unrealized gain on investments, net of tax provision of $0 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1 |  |  |  |  |  |  |  |  |  | 1 |
Net change in effective portion of hedging contracts, net of tax provision of $52 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 267 |  |  |  |  |  |  |  |  |  | 267 |
Amortization of prior service cost, net of tax provision of $4 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 13 |  |  |  |  |  |  |  |  |  | 13 |
Foreign currency translation adjustment (3) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,725 |  |  |  |  |  |  | (2 | ) |  |  | 1,723 |
Balance, July 31, 2025 |  | $ | — |  |  |  | 29,299 |  |  | $ | 293 |  |  |  | 6,455 |  |  | $ | 64 |  |  | $ | 245,632 |  |  | $ | 435,553 |  |  | $ | 99,499 |  |  | $ | (291,128 | ) |  | $ | 2,322 |  |  | $ | 492,235 |
|  | Preferred Stock |  |  | Common Stock Shares (1) |  |  | Common Stock Amount |  |  | Class A Common Stock Shares (2) |  |  | Class A Common Stock Amount |  |  | Capital in Excess of Par Value |  |  | Retained Earnings |  |  | Accumulated Other Comprehensive Income |  |  | Treasury Stock |  |  | Noncontrolling Interest |  |  | Total Movado Group, Inc. Shareholders' Equity |
Balance, April 30, 2024 (As Restated) |  | $ | — |  |  |  | 29,132 |  |  | $ | 291 |  |  |  | 6,483 |  |  | $ | 64 |  |  | $ | 240,923 |  |  | $ | 453,651 |  |  | $ | 82,081 |  |  | $ | (287,414 | ) |  | $ | 2,260 |  |  | $ | 491,856 |
Net income attributable to Movado Group, Inc. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,469 |  |  |  |  |  |  |  |  |  | 97 |  |  |  | 3,566 |
Dividends ($0.35 per share) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (7,774 | ) |  |  |  |  |  |  |  |  |  |  |  | (7,774 | )
Stock awards and options exercised |  |  |  |  |  | 13 |  |  |  | 1 |  |  |  |  |  |  |  |  |  | 67 |  |  |  |  |  |  |  |  |  | (85 | ) |  |  |  |  |  | (17 | )
Stock repurchases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |
Conversion of Class A Common Stock to Common Stock |  |  |  |  |  | 25 |  |  |  |  |  |  | (25 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |
Supplemental executive retirement plan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 32 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 32 |
Stock-based compensation expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,017 |
Net unrealized gain on investments, net of tax provision of $6 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 16 |  |  |  |  |  |  |  |  |  | 16 |
Net change in effective portion of hedging contracts, net of tax benefit of ($17) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (89 | ) |  |  |  |  |  |  |  |  | (89 | )
Amortization of prior service cost, net of tax provision of $4 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 12 |  |  |  |  |  |  |  |  |  | 12 |
Foreign currency translation adjustment (3) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5,782 |  |  |  |  |  |  | 11 |  |  |  | 5,793 |
Balance, July 31, 2024 (As Restated) |  | $ | — |  |  |  | 29,170 |  |  | $ | 292 |  |  |  | 6,458 |  |  | $ | 64 |  |  | $ | 242,039 |  |  | $ | 449,346 |  |  | $ | 87,802 |  |  | $ | (287,499 | ) |  | $ | 2,368 |  |  | $ | 494,412 |
|  |  |  |  |  |  |  | Movado Group, Inc. Shareholders' Equity |  |  |  |  |  |  |
|  | Preferred Stock |  |  | Common Stock Shares (1) |  |  | Common Stock Amount |  |  | Class A Common Stock Shares (2) |  |  | Class A Common Stock Amount |  |  | Capital in Excess of Par Value |  |  | Retained Earnings |  |  | Accumulated Other Comprehensive Income |  |  | Treasury Stock |  |  | Noncontrolling Interest |  |  | Total Movado Group, Inc. Shareholders' Equity |
Balance, January 31, 2025 |  | $ | — |  |  |  | 29,178 |  |  | $ | 292 |  |  |  | 6,458 |  |  | $ | 64 |  |  | $ | 243,355 |  |  | $ | 446,704 |  |  | $ | 79,981 |  |  | $ | (289,067 | ) |  | $ | 2,250 |  |  | $ | 483,579 |
Net income attributable to Movado Group, Inc. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,406 |  |  |  |  |  |  |  |  |  | 12 |  |  |  | 4,418 |
Dividends ($0.70 per share) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (15,557 | ) |  |  |  |  |  |  |  |  |  |  |  | (15,557 | )
Stock awards and options exercised |  |  |  |  |  | 115 |  |  |  | 1 |  |  |  |  |  |  |  |  |  | (1 | ) |  |  |  |  |  |  |  |  | (467 | ) |  |  |  |  |  | (467 | )
Stock repurchases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,594 | ) |  |  |  |  |  | (1,594 | )
Conversion of Class A Common Stock to Common Stock |  |  |  |  |  | 3 |  |  |  |  |  |  | (3 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |
Supplemental executive retirement plan |  |  |  |  |  | 3 |  |  |  |  |  |  |  |  |  |  |  |  | 44 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 44 |
Stock-based compensation expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,234 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,234 |
Net unrealized loss on investments, net of tax benefit of ($10) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (29 | ) |  |  |  |  |  |  |  |  | (29 | )
Net change in effective portion of hedging contracts, net of tax benefit of ($159) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (800 | ) |  |  |  |  |  |  |  |  | (800 | )
Amortization of prior service cost, net of tax provision of $7 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 26 |  |  |  |  |  |  |  |  |  | 26 |
Foreign currency translation adjustment (3) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 20,321 |  |  |  |  |  |  | 60 |  |  |  | 20,381 |
Balance, July 31, 2025 |  | $ | — |  |  |  | 29,299 |  |  | $ | 293 |  |  |  | 6,455 |  |  | $ | 64 |  |  | $ | 245,632 |  |  | $ | 435,553 |  |  | $ | 99,499 |  |  | $ | (291,128 | ) |  | $ | 2,322 |  |  | $ | 492,235 |
|  | Preferred Stock |  |  | Common Stock Shares (1) |  |  | Common Stock Amount |  |  | Class A Common Stock Shares (2) |  |  | Class A Common Stock Amount |  |  | Capital in Excess of Par Value |  |  | Retained Earnings |  |  | Accumulated Other Comprehensive Income |  |  | Treasury Stock |  |  | Noncontrolling Interest |  |  | Total Movado Group, Inc. Shareholders' Equity |
Balance, January 31, 2024 (As Restated) |  | $ | — |  |  |  | 29,004 |  |  | $ | 290 |  |  |  | 6,483 |  |  | $ | 64 |  |  | $ | 239,062 |  |  | $ | 459,409 |  |  | $ | 92,335 |  |  | $ | (285,270 | ) |  | $ | 2,159 |  |  | $ | 508,049 |
Net income attributable to Movado Group, Inc. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5,484 |  |  |  |  |  |  |  |  |  | 221 |  |  |  | 5,705 |
Dividends ($0.70 per share) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (15,547 | ) |  |  |  |  |  |  |  |  |  |  |  | (15,547 | )
Stock awards and options exercised |  |  |  |  |  | 140 |  |  |  | 2 |  |  |  |  |  |  |  |  |  | 66 |  |  |  |  |  |  |  |  |  | (1,143 | ) |  |  |  |  |  | (1,075 | )
Stock repurchases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,086 | ) |  |  |  |  |  | (1,086 | )
Conversion of Class A Common Stock to Common Stock |  |  |  |  |  | 25 |  |  |  |  |  |  | (25 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |
Supplemental executive retirement plan |  |  |  |  |  | 1 |  |  |  |  |  |  |  |  |  |  |  |  | 56 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 56 |
Stock-based compensation expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,855 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,855 |
Net unrealized gain on investments, net of tax provision of $7 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 20 |  |  |  |  |  |  |  |  |  | 20 |
Net change in effective portion of hedging contracts, net of tax benefit of ($5) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (28 | ) |  |  |  |  |  |  |  |  | (28 | )
Amortization of prior service cost, net of tax provision of $7 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 24 |  |  |  |  |  |  |  |  |  | 24 |
Foreign currency translation adjustment (3) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,549 | ) |  |  |  |  |  | (12 | ) |  |  | (4,561 | )
Balance, July 31, 2024 (As Restated) |  | $ | — |  |  |  | 29,170 |  |  | $ | 292 |  |  |  | 6,458 |  |  | $ | 64 |  |  | $ | 242,039 |  |  | $ | 449,346 |  |  | $ | 87,802 |  |  | $ | (287,499 | ) |  | $ | 2,368 |  |  | $ | 494,412 |
(1) Each share of common stock is entitled to one vote per share on all matters submitted to a vote of the shareholders. (2) Each share of class A common stock is entitled to 10 votes per share on all matters submitted to a vote of the shareholders. Each holder of class A common stock is entitled to convert, at any time, any and all of such shares into the same number of shares of common stock. Each share of class A common stock is converted automatically into common stock in the event that the beneficial or record ownership of such shares of class A common stock is transferred to any person, except to certain family members or affiliated persons deemed “permitted transferees” pursuant to the Company’s Restated Certificate of Incorporation, as amended. The class A common stock is not publicly traded, and consequently, there is currently no established public trading market for these shares. (3) The currency translation adjustment is not adjusted for income taxes to the extent that it relates to permanent investments of earnings in international subsidiaries.

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