Movado Group Q2 record: net sales $173.9M (+96% YoY), adj EPS $0.85; raises FY22 EPS view to $2.75-$2.90

MOVADO GROUP INC

2022-Q2 EPS reported $1.21 revenue$308,672,000

Net sales of $173.9M (+96.4% vs Q2 FY21, +10.2% vs pre-pandemic Q2 FY20); operating income $24.6M vs loss $8.9M.
GAAP EPS of $0.82; adjusted EPS of $0.85 (vs ($0.07) in Q2 FY21).
Board declared $0.20/share quarterly dividend, payable Sept 22 to holders of record Sept 8.
FY2022 outlook raised: net sales $680-695M, EPS $2.75-$2.90, vs prior guidance.
Cash $199.7M, no debt; repurchased ~322,800 shares in Q2; $15M remaining under buyback authorization.

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