Performance rebounded in fiscal 2026 with 2.7% revenue growth, driven by a 5.6% increase in the fourth quarter led by U.S. wholesale and retail channels.

Strategic brand refresh initiatives implemented over the last 18 months fueled a 25% increase in Movado brand wholesale sales and 18% e-commerce growth.

Management attributes category momentum to the return of female consumers attracted by jewelry-inspired designs and smaller case sizes.

Success with Gen Z consumers was specifically noted in licensed brands like Coach, while Hugo Boss and Lacoste saw strong traction in men's jewelry and fashion watches.

Operating income growth of 28.7% for the full year reflects disciplined cost management and the ability to leverage fixed costs over higher sales volumes.

The company maintained stable gross margins by utilizing favorable product mix and pricing actions to offset significant headwinds from U.S. tariffs.

Management declined to provide a formal fiscal 2027 outlook, citing unpredictable geopolitical risks in the Middle East and ongoing tariff volatility.

Strategic focus remains on shifting product mix toward higher-margin items and driving full-price sell-through to expand margins over time.

The company plans to celebrate Movado's 145th anniversary with campaigns emphasizing Swiss heritage and vintage-inspired craftsmanship to deepen emotional consumer connections.

Innovation pipeline for fiscal 2027 includes the launch of the Valeura women's watch, the Movado Kingmatic heritage model, and the expansion of the Curve jewelry line.

Capital allocation will prioritize maintaining a solid dividend and utilizing share repurchases primarily to offset dilution from compensation programs.

U.S. tariffs (IEEPA) represented a 150 basis point drag on full-year gross margin, totaling approximately $10,000,000 in cost of goods sold.

The company ended the year with a strong liquidity position of $230,500,000 in cash and zero debt, providing significant operational flexibility.

Inventory levels at year-end were slightly impacted by strategic delays in importing Swiss products during a brief period of 39% peak tariff rates.

Middle East performance remained a headwind due to regional conflict, though management is actively working to rebuild this market.

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Growth was driven by a combination of higher consumer engagement, successful new design shapes, and a shift toward higher-priced automatic watches.

Management expects direct-to-consumer and wholesale channels to remain complementary as both saw growth in major accounts during the fourth quarter.

Recent 11.2% U.S. sales growth was primarily volume-driven as consumers returned to the fashion and accessible luxury categories.

Minimal price increases were implemented last year to offset tariffs, with a second round of increases planned for the first half of fiscal 2027.

The company is currently planning for a 10% tariff plus standard duties, totaling approximately 16% to 18% for the upcoming year.

Management noted uncertainty regarding whether a previously negotiated 15% all-inclusive rate or the current statutory rate will become permanent.

Strong fourth-quarter sell-through has left some retailers 'chasing inventory,' particularly for best-selling Movado models.

The company is focused on accelerating production and rebuilding inventory levels to meet this sustained wholesale demand.

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