www.movadogroup.com<\/b><\/a>.The webcast will be archived on the Company\u2019s website approximately one hour after the conclusion of the call. Additionally, a telephonic re-play of the call will be available at 12:00 p.m. ET on November 24, 2020 until 11:59 p.m. ET on December 8, 2020 and can be accessed by dialing (844) 512-2921 and entering replay pin number 13713033.\n<\/p>\n\nMovado Group, Inc. designs, sources, and globally distributes MOVADO\u00ae, MVMT\u00ae, OLIVIA BURTON\u00ae, EBEL\u00ae, CONCORD\u00ae, COACH\u00ae, TOMMY HILFIGER\u00ae, HUGO BOSS\u00ae, LACOSTE\u00ae, SCUDERIA FERRARI\u00ae, REBECCA MINKOFF\u00ae and URI MINKOFF\u00ae watches, and for certain of these brands jewelry and other accessories, and operates Movado Company Stores in the United States and Canada.\n<\/p>\n
In this release, the Company presents certain financial measures that are not calculated according to generally accepted accounting principles in the United States (\u201cGAAP\u201d). Specifically, the Company is presenting adjusted gross profit, adjusted gross margin, adjusted operating expenses and adjusted operating income, which are gross profit, gross margin, operating expenses and operating income, respectively, under GAAP, adjusted to eliminate the amortization of acquisition accounting adjustments related to the Olivia Burton and MVMT acquisitions, corporate initiatives and the impairment of goodwill and certain intangible assets. The Company is also presenting adjusted tax provision, which is the tax provision under GAAP, adjusted to eliminate the impact of charges for the Olivia Burton and MVMT acquisitions, corporate initiatives, the impairment of goodwill and certain intangible assets and the gain on sale of a non-operating asset. The Company believes these adjusted measures are useful because they give investors information about the Company\u2019s financial performance without the effect of certain items that the Company believes are not characteristic of its usual operations. The Company is also presenting adjusted net income, adjusted earnings per share and adjusted effective tax rate, which are net income, earnings per share and effective tax rate, respectively, under GAAP, adjusted to eliminate the after-tax impact of amortization of acquisition accounting adjustments related to the Olivia Burton and MVMT acquisitions, corporate initiatives, the impairment of goodwill and certain intangibles and the gain on sale of a non-operating asset. The Company believes that adjusted net income, adjusted earnings per share and adjusted effective tax rate are useful measures of performance because they give investors information about the Company\u2019s financial performance without the effect of certain items that the Company believes are not characteristic of its usual operations. Additionally, the Company is presenting constant currency information to provide a framework to assess how its business performed excluding the effects of foreign currency exchange rate fluctuations in the current period. Comparisons of financial results on a constant dollar basis are calculated by translating each foreign currency at the same US dollar exchange rate as in effect for the prior-year period for both periods being compared.<\/i>The Company believes this information is useful to investors to facilitate comparisons of operating results. These non-GAAP financial measures are designed to complement the GAAP financial information presented in this release. The non-GAAP financial measures presented should not be considered in isolation from or as a substitute for the comparable GAAP financial measures, and the methods of their calculation may differ substantially from similarly titled measures used by other companies.<\/i><\/p>\n
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as \u201cexpects,\u201d \u201canticipates,\u201d \u201cbelieves,\u201d \u201ctargets,\u201d \u201cgoals,\u201d \u201cprojects,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201cseeks,\u201d \u201cestimates,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cshould\u201d and variations of such words and similar expressions. Similarly, statements in this press release that describe the Company’s business strategy, outlook, objectives, plans, intentions or goals are also forward-looking statements. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the Company’s actual results, performance or achievements and levels of future dividends to differ materially from those expressed in, or implied by, these statements. These risks and uncertainties may include, but are not limited to general economic and business conditions which may impact disposable income of consumers in the United States and the other significant markets (including Europe) where the Company\u2019s products are sold, uncertainty regarding such economic and business conditions, trends in consumer debt levels and bad debt write-offs, general uncertainty related to possible terrorist attacks, natural disasters, pandemics, including the effect of the COVID-19 pandemic and other diseases on travel and traffic in the Company\u2019s retail stores and the stores of its wholesale customers, supply disruptions and delivery delays from the Company\u2019s suppliers as a result of the COVID-19 pandemic, adverse impact on the Company\u2019s wholesale customers and customer traffic in the Company\u2019s stores as a result of increased uncertainty and economic disruption caused by the COVID-19 pandemic, uncertainty relating to the availability of vaccines and treatments for COVID-19, the impact of the United Kingdom\u2019s process to exit from the European Union, defaults on or downgrades of sovereign debt and the impact of any of those events on consumer spending, changes in consumer preferences and popularity of particular designs, new product development and introduction, decrease in mall traffic and increase in e-commerce, the ability of the Company to successfully implement its business strategies, competitive products and pricing, the impact of \u201csmart\u201d watches and other wearable tech products on the traditional watch market, seasonality, availability of alternative sources of supply in the case of the loss of any significant supplier or any supplier\u2019s inability to fulfill the Company\u2019s orders, the loss of or curtailed sales to significant customers, the Company\u2019s dependence on key employees and officers, the ability to successfully integrate the operations of acquired businesses without disruption to other business activities, the possible impairment of acquired intangible assets including goodwill if the carrying value of any reporting unit were to exceed its fair value, volatility in reported earnings resulting from changes in the estimated fair value of contingent acquisition consideration, the continuation of the company\u2019s major warehouse and distribution centers, the continuation of licensing arrangements with third parties, losses possible from pending or future litigation, the ability to secure and protect trademarks, patents and other intellectual property rights, the ability to lease new stores on suitable terms in desired markets and to complete construction on a timely basis, the ability of the Company to successfully manage its expenses on a continuing basis, information systems failure or breaches of network security, the continued availability to the Company of financing and credit on favorable terms, business disruptions, and general risks associated with doing business outside the United States including, without limitation, import duties, tariffs (including retaliatory tariffs), quotas, political and economic stability, changes to existing laws or regulations, and success of hedging strategies with respect to currency exchange rate fluctuations, and the other factors discussed in the Company\u2019s Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. These statements reflect the Company’s current beliefs and are based upon information currently available to it. Be advised that developments subsequent to this press release are likely to cause these statements to become outdated with the passage of time. The Company assumes no duty to update its forward looking statements and this release shall not be construed to indicate the assumption by the Company of any duty to update its outlook in the future.<\/i><\/p>\n
(Tables to follow)<\/span><\/p>\n\n\n | \n\u00a0<\/td>\n<\/tr>\n |
\n| \n MOVADO GROUP, INC.
\n<\/b>
CONSOLIDATED STATEMENTS OF OPERATIONS
\n<\/b>
(In thousands, except per share data)
\n<\/b>
(Unaudited) <\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \nThree Months Ended<\/b><\/td>\n | | \nNine Months Ended<\/b><\/td>\n<\/tr>\n\n | \n | \nOctober 31,<\/b><\/td>\n | | \nOctober 31,<\/b><\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n\n 2020<\/span><\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2019<\/span><\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2020<\/span><\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2019<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Net sales<\/td>\n | | \n\n \n$ 169,863\n<\/p>\n<\/td>\n | | \n\n \n$ 205,618\n<\/p>\n<\/td>\n | | \n\n \n$ 328,067\n<\/p>\n<\/td>\n | | \n\n \n$ 509,983\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Cost of sales<\/td>\n | | \n\n \n77,410\n<\/p>\n<\/td>\n | | \n\n \n95,549\n<\/p>\n<\/td>\n | | \n\n \n158,365\n<\/p>\n<\/td>\n | | \n\n \n235,702\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Gross profit<\/td>\n | | \n\n \n92,453\n<\/p>\n<\/td>\n | | \n\n \n110,069\n<\/p>\n<\/td>\n | | \n\n \n169,702\n<\/p>\n<\/td>\n | | \n\n \n274,281\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Operating expenses<\/td>\n | | \n\n \n69,386\n<\/p>\n<\/td>\n | | \n\n \n87,431\n<\/p>\n<\/td>\n | | \n\n \n181,795\n<\/p>\n<\/td>\n | | \n\n \n237,893\n<\/p>\n<\/td>\n<\/tr>\n | \n| Impairment of goodwill and intangible assets<\/td>\n | | \n\n \n–\n<\/p>\n<\/td>\n | | \n\n \n–\n<\/p>\n<\/td>\n | | \n\n \n155,919\n<\/p>\n<\/td>\n | | \n\n \n–\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total operating expenses<\/td>\n | | \n\n \n69,386\n<\/p>\n<\/td>\n | | \n\n \n87,431\n<\/p>\n<\/td>\n | | \n\n \n337,714\n<\/p>\n<\/td>\n | | \n\n \n237,893\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Operating income\/(loss)<\/td>\n | | \n\n \n23,067\n<\/p>\n<\/td>\n | | \n\n \n22,638\n<\/p>\n<\/td>\n | | \n\n \n(168,012)\n<\/p>\n<\/td>\n | | \n\n \n36,388\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Non-operating (expense)\/income:<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Gain on sale of a non-operating asset<\/td>\n | | \n\n \n–\n<\/p>\n<\/td>\n | | \n\n \n–\n<\/p>\n<\/td>\n | | \n\n \n1,317\n<\/p>\n<\/td>\n | | \n\n \n–\n<\/p>\n<\/td>\n<\/tr>\n | \n| Change in contingent consideration<\/td>\n | | \n\n \n–\n<\/p>\n<\/td>\n | | \n\n \n–\n<\/p>\n<\/td>\n | | \n\n \n–\n<\/p>\n<\/td>\n | | \n\n \n13,627\n<\/p>\n<\/td>\n<\/tr>\n | \n| Interest expense<\/td>\n | | \n\n \n(608)\n<\/p>\n<\/td>\n | | \n\n \n(240)\n<\/p>\n<\/td>\n | | \n\n \n(1,469)\n<\/p>\n<\/td>\n | | \n\n \n(689)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Interest income<\/td>\n | | \n\n \n8\n<\/p>\n<\/td>\n | | \n\n \n18\n<\/p>\n<\/td>\n | | \n\n \n31\n<\/p>\n<\/td>\n | | \n\n \n63\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Income\/(Loss) before income taxes<\/td>\n | | \n\n \n22,467\n<\/p>\n<\/td>\n | | \n\n \n22,416\n<\/p>\n<\/td>\n | | \n\n \n(168,133)\n<\/p>\n<\/td>\n | | \n\n \n49,389\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Provision\/(Benefit) for income taxes<\/td>\n | | \n\n \n7,524\n<\/p>\n<\/td>\n | | \n\n \n4,955\n<\/p>\n<\/td>\n | | \n\n \n(26,365)\n<\/p>\n<\/td>\n | | \n\n \n10,543\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Net income\/(loss)<\/td>\n | | \n\n \n14,943\n<\/p>\n<\/td>\n | | \n\n \n17,461\n<\/p>\n<\/td>\n | | \n\n \n(141,768)\n<\/p>\n<\/td>\n | | \n\n \n38,846\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Less: Net income\/(loss) attributable to noncontrolling interests<\/td>\n | | \n\n \n118\n<\/p>\n<\/td>\n | | \n\n \n(304)\n<\/p>\n<\/td>\n | | \n\n \n15\n<\/p>\n<\/td>\n | | \n\n \n(349)\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Net income\/(loss) attributable to Movado Group, Inc.<\/td>\n | | \n\n \n$ 14,825\n<\/p>\n<\/td>\n | | \n\n \n$ 17,765\n<\/p>\n<\/td>\n | | \n\n \n$ (141,783)\n<\/p>\n<\/td>\n | | \n\n \n$ 39,195\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Diluted Income Per Share Information <\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Net income\/(loss) attributable to Movado Group, Inc.<\/td>\n | | \n\n \n$ 0.63\n<\/p>\n<\/td>\n | | \n\n \n$ 0.76\n<\/p>\n<\/td>\n | | \n\n \n$ (6.11)\n<\/p>\n<\/td>\n | | \n\n \n$ 1.68\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Weighted diluted average shares outstanding<\/td>\n | | \n\n \n23,375\n<\/p>\n<\/td>\n | | \n\n \n23,250\n<\/p>\n<\/td>\n | | \n\n \n23,223\n<\/p>\n<\/td>\n | | \n\n \n23,322\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \nMOVADO GROUP, INC.<\/b><\/td>\n<\/tr>\n\nGAAP AND NON-GAAP MEASURES<\/b><\/td>\n<\/tr>\n\n(In thousands, except for percentage data)<\/b><\/td>\n<\/tr>\n\n(Unaudited)<\/b><\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \nAs Reported<\/b><\/td>\n | | \n | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n | \nThree Months Ended<\/b><\/td>\n | | \n | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n | \nOctober 31,<\/b><\/td>\n | | \n | \n% Change<\/b><\/td>\n | | \n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n\n 2020<\/span><\/b><\/p>\n<\/td>\n | | \n | \n\n 2019<\/span><\/b><\/p>\n<\/td>\n | | \n | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \nTotal net sales, as reported<\/td>\n | | \n | \n | \n\n \n$ 169,863\n<\/p>\n<\/td>\n | | \n | \n\n \n$ 205,618\n<\/p>\n<\/td>\n | | \n | \n\n \n-17.4%\n<\/p>\n<\/td>\n | | \n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \nTotal net sales, constant dollar basis<\/td>\n | | \n | \n | \n\n \n$ 165,639\n<\/p>\n<\/td>\n | | \n | \n\n \n$ 205,618\n<\/p>\n<\/td>\n | | \n | \n\n \n-19.4%\n<\/p>\n<\/td>\n | | \n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \nAs Reported<\/b><\/td>\n | | \n | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n | \nNine Months Ended<\/b><\/td>\n | | \n | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n | \nOctober 31,<\/b><\/td>\n | | \n | \n% Change<\/b><\/td>\n | | \n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n\n 2020<\/span><\/b><\/p>\n<\/td>\n | | \n | \n\n 2019<\/span><\/b><\/p>\n<\/td>\n | | \n | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \nTotal net sales, as reported<\/td>\n | | \n | \n | \n\n \n$ 328,067\n<\/p>\n<\/td>\n | | \n | \n\n \n$ 509,983\n<\/p>\n<\/td>\n | | \n | \n\n \n-35.7%\n<\/p>\n<\/td>\n | | \n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \nTotal net sales, constant dollar basis<\/td>\n | | \n | \n | \n\n \n$ 324,452\n<\/p>\n<\/td>\n | | \n | \n\n \n$ 509,983\n<\/p>\n<\/td>\n | | \n | \n\n \n-36.4%\n<\/p>\n<\/td>\n | | \n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n\n | <\/tr>\n \nMOVADO GROUP, INC.<\/b><\/td>\n<\/tr>\n\nGAAP AND NON-GAAP MEASURES<\/b><\/td>\n<\/tr>\n\n(In thousands, except per share data)<\/b><\/td>\n<\/tr>\n\n(Unaudited)<\/b><\/td>\n<\/tr>\n\n | \n | \n\u00a0<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n\u00a0<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n\u00a0<\/td>\n | | \nNet Sales<\/b><\/td>\n | | \nGross Profit<\/b><\/td>\n | | \nOperating
Income\/(Loss)<\/b><\/td>\n | | \nPre-tax
Income\/(Loss) <\/b><\/td>\n | | \nProvision\/(Benefit)
for Income Taxes<\/b><\/td>\n | | \nNet
Income\/(Loss)
Attributable to
Movado Group, Inc.<\/b><\/td>\n | | \nDiluted EPS<\/b><\/td>\n<\/tr>\n\n| Three Months Ended October 31, 2020<\/b><\/td>\n | \u00a0<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| As Reported (GAAP)<\/b><\/td>\n | \u00a0<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n169,863\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n92,453\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n23,067\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n22,467\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n7,524\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n14,825\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n0.63\n<\/p>\n<\/td>\n<\/tr>\n | \n| Olivia Burton Costs (1)<\/td>\n | \u00a0<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n677\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n677\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n128\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n549\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n0.02\n<\/p>\n<\/td>\n<\/tr>\n | \n| MVMT Costs (2)<\/td>\n | \u00a0<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n555\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n555\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n211\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n344\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n0.02\n<\/p>\n<\/td>\n<\/tr>\n | \n| Corporate Initiatives (3)<\/td>\n | \u00a0<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n43\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n781\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n781\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n143\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n638\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n0.03\n<\/p>\n<\/td>\n<\/tr>\n | \n| Adjusted Results (Non-GAAP)<\/b><\/td>\n | \u00a0<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n169,863\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n92,496\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n25,080\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n24,480\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n8,006\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n16,356\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n0.70\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n\u00a0<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n\u00a0<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Three Months Ended October 31, 2019<\/b><\/td>\n | \u00a0<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| As Reported (GAAP)<\/b><\/td>\n | \u00a0<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n205,618\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n110,069\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n22,638\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n22,416\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n4,955\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n17,765\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n0.76\n<\/p>\n<\/td>\n<\/tr>\n | \n| Olivia Burton Costs (1)<\/td>\n | \u00a0<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n676\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n676\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n128\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n548\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n0.03\n<\/p>\n<\/td>\n<\/tr>\n | \n| MVMT Costs (2)<\/td>\n | \u00a0<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n936\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n936\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n225\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n711\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n0.03\n<\/p>\n<\/td>\n<\/tr>\n | \n| Adjusted Results (Non-GAAP)<\/b><\/td>\n | \u00a0<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n205,618\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n110,069\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n24,250\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n24,028\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n5,308\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n19,024\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n0.82\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n\u00a0<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n\u00a0<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n\u00a0<\/td>\n | | \nNet Sales<\/b><\/td>\n | | \nGross Profit<\/b><\/td>\n | | \nOperating
(Loss)\/Income <\/b><\/td>\n | | \nPre-tax
(Loss)\/Income <\/b><\/td>\n | | \n(Benefit)\/Provision
for Income Taxes<\/b><\/td>\n | | \nNet
(Loss)\/Income
Attributable to
Movado Group, Inc.<\/b><\/td>\n | | \nDiluted EPS<\/b><\/td>\n<\/tr>\n\n| Nine Months Ended October 31, 2020<\/b><\/td>\n | \u00a0<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| As Reported (GAAP)<\/b><\/td>\n | \u00a0<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n328,067\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n169,702\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(168,012)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(168,133)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(26,365)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(141,783)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(6.11)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Olivia Burton Costs (1)<\/td>\n | \u00a0<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,033\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,033\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n386\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,647\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n0.07\n<\/p>\n<\/td>\n<\/tr>\n | \n| MVMT Costs (2)<\/td>\n | \u00a0<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,536\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,536\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n584\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n952\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n0.04\n<\/p>\n<\/td>\n<\/tr>\n | \n| Corporate Initiatives (3)<\/td>\n | \u00a0<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,551\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n15,389\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n15,389\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4,735\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n10,654\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n0.46\n<\/p>\n<\/td>\n<\/tr>\n | \n| Goodwill and Intangible Asset Impairment (4)<\/td>\n | \u00a0<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n155,919\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n155,919\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n24,867\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n131,052\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n5.64\n<\/p>\n<\/td>\n<\/tr>\n | \n| Gain On Sale of a Non-Operating Asset (5)<\/td>\n | \u00a0<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(1,317)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(474)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(843)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(0.03)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Adjusted Results (Non-GAAP)<\/b><\/td>\n | \u00a0<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n328,067\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n173,253\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n6,865\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n5,427\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n3,733\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n1,679\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n0.07\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n\u00a0<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n\u00a0<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Nine Months Ended October 31, 2019<\/b><\/td>\n | \u00a0<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| As Reported (GAAP)<\/b><\/td>\n | \u00a0<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n509,983\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n274,281\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n36,388\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n49,389\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n10,543\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n39,195\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n1.68\n<\/p>\n<\/td>\n<\/tr>\n | \n| Olivia Burton Costs (1)<\/td>\n | \u00a0<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,078\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,078\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n395\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,683\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n0.07\n<\/p>\n<\/td>\n<\/tr>\n | \n| MVMT Costs (2)<\/td>\n | \u00a0<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n140\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,534\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,534\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n848\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,686\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n0.11\n<\/p>\n<\/td>\n<\/tr>\n | \n| Change In Contingent Consideration (6)<\/td>\n | \u00a0<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(13,627)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(3,270)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(10,357)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(0.44)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Cost Savings Initiatives (7)<\/td>\n | \u00a0<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(320)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(320)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(77)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(243)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(0.01)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Adjusted Results (Non-GAAP)<\/b><\/td>\n | \u00a0<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n509,983\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n274,421\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n41,680\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n41,054\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n8,439\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n32,964\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n1.41\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n | | | | | | | | | | | | | | | | |