Movado Group completed a challenging Q3 FY2025, with consolidated revenue of $182.7 million, down 2.6% year over year, as US sales remained weak and international markets showed only modest improvement. Gross margin held at a resilient ~53.8%, but operating expenses rose, pressured by higher marketing and payroll investments as the company continued to fund brand-building initiatives. Management remains focused on returning to profitable growth through a mix of cost discipline, portfolio optimization, and selective investments in growth markets. The company also announced a new $50 million share repurchase program to enhance shareholder value while maintaining ample liquidity on a cash-rich balance sheet (cash ~$181.5 million with net debt of about -$83.3 million). For the full year, Movado guided toward roughly $665 million in net sales with a ~54% gross margin and ~$23 million of operating income, and $0.90 per share, signaling a path to modest profitability, with meaningful annualized cost savings (approx. $6.5 million) expected in fiscal 2026. The combination of India-led growth, licensing brand momentum, and a broad marketing campaign is designed to reposition Movado for a stronger 2026, though near-term headwinds remain from US/Europe retailer inventory discipline and the ongoing push to optimize the mix between owned brands, company stores, and licensed brands.