Movado Q1 net sales $163.4M (+21.2%), adj EPS $0.82, dividend $0.35

MOVADO GROUP INC

2023-Q1 EPS reported $0.79 revenue$163,424,000

Net sales $163.4M, +21.2% YoY (24.3% constant currency); U.S. +6.6%, intl +35.3%.
Gross margin 59.2% (+420 bps); operating income $25.3M vs $13.3M.
Diluted EPS $0.79 (adj. $0.82), up from $0.40.
$0.35 dividend payable June 22 to holders of record June 8.
FY2023 outlook reaffirmed: net sales $780-800M, op income $125-130M; heightened uncertainty noted.

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