The components of equity for the three months ended April 30, 2026 and 2025 are as follows (in thousands):


					Movado Group, Inc. Shareholders' Equity
	Preferred Stock		Common Stock Shares (1)		Common Stock Amount		Class A Common Stock Shares (2)		Class A Common Stock Amount		Capital in Excess of Par Value			Retained Earnings			Accumulated Other Comprehensive Income			Treasury Stock			Noncontrolling Interest			Total Movado Group, Inc. Shareholders' Equity
Balance, January 31, 2026	$	—		29,347	$	293		6,455	$	64	$	249,108		$	442,204		$	110,614		$	(293,441	)	$	1,418		$	510,260
Net income attributable to Movado Group, Inc.															6,930									(4	)		6,926
Dividends ($0.35 per share)															(7,743	)											(7,743	)
Stock awards and options exercised				263		3						1,113									(1,364	)					(248	)
Stock repurchases																					(1,541	)					(1,541	)
Supplemental executive retirement plan				3								23															23
Stock-based compensation expense												1,078															1,078
Net unrealized gain on investments, net of tax provision of $1																		3									3
Net change in effective portion of hedging contracts, net of tax provision of $6																		31									31
Amortization of prior service cost, net of tax provision of $6																		24									24
Foreign currency translation adjustment (3)																		(1,936	)					40			(1,896	)
Balance, April 30, 2026	$	—		29,613	$	296		6,455	$	64	$	251,322		$	441,391		$	108,736		$	(296,346	)	$	1,454		$	506,917

	Preferred Stock		Common Stock Shares (1)		Common Stock Amount		Class A Common Stock Shares (2)		Class A Common Stock Amount		Capital in Excess of Par Value			Retained Earnings			Accumulated Other Comprehensive Income			Treasury Stock			Noncontrolling Interest			Total Movado Group, Inc. Shareholders' Equity
Balance, January 31, 2025	$	—		29,178	$	292		6,458	$	64	$	243,355		$	446,704		$	79,981		$	(289,067	)	$	2,250		$	483,579
Net income attributable to Movado Group, Inc.															1,420									(140	)		1,280
Dividends ($0.35 per share) (4)															(7,783	)											(7,783	)
Stock awards and options exercised				115		1						(1	)								(467	)					(467	)
Stock repurchases																											—
Supplemental executive retirement plan				3								25															25
Stock-based compensation expense												1,192															1,192
Net unrealized loss on investments, net of tax benefit of ($10)																		(30	)								(30	)
Net change in effective portion of hedging contracts, net of tax benefit of ($211)																		(1,067	)								(1,067	)
Amortization of prior service cost, net of tax provision of $3																		13									13
Foreign currency translation adjustment (3)																		18,596						62			18,658
Balance, April 30, 2025	$	—		29,296	$	293		6,458	$	64	$	244,571		$	440,341		$	97,493		$	(289,534	)	$	2,172		$	495,400

(1)

Each share of common stock is entitled to one vote per share on all matters submitted to a vote of the shareholders.

(2)

Each share of class A common stock is entitled to 10 votes per share on all matters submitted to a vote of the shareholders. Each holder of class A common stock is entitled to convert, at any time, any and all of such shares into the same number of shares of common stock. Each share of class A common stock is converted automatically into common stock in the event that the beneficial or record ownership of such shares of class A common stock is transferred to any person, except to certain family members or affiliated persons deemed “permitted transferees” pursuant to the Company’s Restated Certificate of Incorporation, as amended. The class A common stock is not publicly traded, and consequently, there is currently no established public trading market for these shares.

(3)

The currency translation adjustment is not adjusted for income taxes to the extent that it relates to permanent investments of earnings in international subsidiaries.

(4)

Dividends declared on April 16, 2025, payable on May 6, 2025.