---
schema_version: "secwatch.filing_event.v1"
accession: "0000950142-25-001035"
form_type: "8-K"
ticker: "MOV"
cik: "0000072573"
company_name: "MOVADO GROUP INC"
filed_at: "2025-04-11T23:59:59+00:00"
generated_at: "2026-05-23T16:41:36.963757+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Movado Group Restates Financials After Dubai Branch Misconduct, Reports Preliminary Q4 Results

## Summary
- Restating FY2022-2024 and interim FY2025 periods due to overstatement of sales and premature recognition in Dubai branch; FY2024 net sales restated from $672.6M to $664.4M.
- Former managing director of Dubai branch terminated after misconduct involving falsified documents and third-party warehouse; no impact on other regions.
- Material weakness identified in internal controls over financial reporting; remediation measures underway including organizational changes.
- Preliminary FY2025 net sales expected at $653.4M, operating income $20.0M, cash $208.5M with no debt; quarterly dividend of $0.35 approved.
- Voluntary disclosure to OFAC regarding potential sales to Iran via Dubai branch; believes loss not material.

## SEC filing metadata
- accession: 0000950142-25-001035
- form_type: 8-K
- ticker: MOV
- cik: 0000072573
- company_name: MOVADO GROUP INC
- filed_at: 2025-04-11T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.02, 7.01, 4.02, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/72573/000095014225001035/0000950142-25-001035-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/72573/000095014225001035/eh250615018_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950142-25-001035
- JSON: https://secwatch.observer/filing/0000950142-25-001035.json
- Plain text: https://secwatch.observer/filing/0000950142-25-001035.txt

## Key facts
- Auditor Changes
  MOVADO GROUP INC reported that prior financial statements should not be relied upon.
  - Action: non reliance
  - Auditor: PricewaterhouseCoopers LLP
  source text: the Audit Committee of the board of directors of the Company concluded that the consolidated financial statements for the Affected Periods should no longer be relied upon
  evidence_url: https://www.sec.gov/Archives/edgar/data/72573/000095014225001035/0000950142-25-001035-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.