CollectionsApr 03, 2026
Taylor Swift’s ‘Elizabeth Taylor’ Video Puts Jewelry Front and CenterIconic pieces, like the Mike Todd Diamond Tiara, appear in the superstar’s new music video for her song inspired by the actress.
FinancialsAug 29, 2017
Movado Group Sees Flat Q2 Sales
The company said fashion watches and licensed brands were down in the United States.
Pictured here is the “Forget Me Knot” open bangle from Olivia Burton. Despite flat sales in the second quarter, Movado revised its outlook for the full-year upward following the acquisition of the Olivia Burton jewelry brand. Right now, the brand is present in the U.S. through retailers like Anthropologie, Lord & Taylor and Nordstrom, according to its website.
Paramus, N.J.--Movado Group said net sales were almost flat in the second quarter and down in the first-half of the year in its latest earnings report released Tuesday.
In the second quarter, sales were $128.8 million compared to $128.1 the year prior, an increase of less than 1 percent.
Gross profit was $66.1 million, or 51 percent of sales, compared to $70.3 million, or 55 percent of sales, in the second quarter last year, while operating expenses decreased 4 percent to $57.8 million and operating income was down from $10.1 million in the year-earlier period to $8.3 million.
CEO Efraim Grinberg said the U.S. retail environment was challenging for the company during the period, but noted it was offset by particularly strong growth in net sales in Latin America, Europe and Asia.
During a conference call Tuesday morning, Grinberg said that the U.S. presented a challenge for fashion watches especially. Licensed brands also were down in the region, posting a 26 percent decrease in the U.S.
Movado company stores, however, grew 5 percent overall, and the wholesale business was up 8 percent.
Grinberg added that the launch of its Movado Connect smartwatch was “very well received” by retail partners and will be available in stores beginning Sept. 1.
During the first quarter, Movado focused on streamlining operations to reduce costs and operate more efficiently and faster, Grinberg said, continuing a move it started near the end of the last fiscal year. It also continued to focus on growing its digital footprint, particularly through social media platforms.
Overall, in the first six months of fiscal 2018, net sales were down 6 percent to $228 million.
Operating income in the first half was $4.7 million, compared with $15.5 million in the first-half last year, and gross profit was 51 percent of sales at $115.3 million, compared with $131.6 million, or 54 percent of sales, in the prior year.
The company said that it is updating its outlook for the full fiscal year 2018 to reflect the acquisition of the Olivia Burton brand.
Movado said that since the brand is performing “in line with (its) expectations” and they are seeing “initial success with the integration as the brand continues to resonate with its core millennial customer,” it now anticipates that net sales will be in the range of $530 to $545 million and operating income will be approximately $53 to $58 million in the
full-year. Previously, the company had predicted net sales in the range of $515 to $530 million and operating income at $50 to $55 million.
In addition to growing Olivia Burton globally, the company also will focus on expanding other new business initiatives, including Rebecca Minkoff and Movado Connect watches, and increasing its direct-to-consumer business.
Later this year, they also will extend the Movado Heritage line with several new models and new retail partners, Grinberg said.
In addition to growing Olivia Burton globally, the company also will focus on expanding other new business initiatives, including Rebecca Minkoff and Movado Connect watches, and increasing its direct-to-consumer business.
Later this year, they also will extend the Movado Heritage line with several new models and new retail partners, Grinberg said.
More on Financials
The Latest
MajorsApr 03, 2026
Saks Global Says It Will Emerge From Bankruptcy This SummerThe luxury retailer, which went Chapter 11 in January, announced Thursday that it has secured $500 million in exit financing.
Events & AwardsApr 03, 2026
JCK Luxury, NouvelleBox Partner on New Designer BallroomThe NouvelleBox ballroom will feature independent jewelry designers, including Lene Vibe, Wyld Box Jewelry, and Kiaia Limited.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
CollectionsApr 03, 2026
Buddha Mama Brings Its ‘Moon’ Locket To DallasThe one-of-a-kind locket, our Piece of the Week, opens to reveal three hidden images to keep close to your heart.
Weekly QuizApr 02, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsApr 02, 2026
Pandora Opens New Canadian Distribution Center Amid Tariff ConcernsThe new facility was also designed to better serve its growing customer base in Canada.
TrendsApr 02, 2026
Michelle Yeoh Fronts New Mikimoto Campaign The campaign is a tribute to the year 1893, when Kokichi Mikimoto created the world’s first cultured pearl.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
GradingApr 02, 2026
GIA Debuts New Campus in TaiwanIt is the only GIA school to offer the GIA Graduate Gemologist program in Chinese.
MajorsApr 02, 2026
DCA Launches ‘Second Spark’ Workforce InitiativeThe initiative connects veterans and parents returning to the workforce with careers in jewelry retail.
MajorsApr 02, 2026
Hoover & Strong Names New National Sales RepresentativeThe wholesale manufacturer and precious metals refiner has appointed Michael Angelo as its new national sales representative.
MajorsApr 01, 2026
Foundrae Sues Pandora for Allegedly Copying Its Medallion DesignsFoundrae also accused the jewelry giant of copying its mood board style of marketing.
AuctionsApr 01, 2026
John Jacob Astor IV’s Titanic Pocket Watch Heads to AuctionA Patek Philippe for Tiffany & Co. timepiece owned by the American businessman who died on the Titanic will be offered at Freeman's Chicago.
SurveysApr 01, 2026
Consumers’ Outlook Improves Again in MarchThe Conference Board’s Consumer Confidence Index edged up, with optimism about the present outweighing worries about the future.
IndependentsApr 01, 2026
Zachary’s Jewelers’ Constance Polamalu to Release Children’s BookThe retailer’s Zach Bear gift comes to life in “Zach Bear and the Window Necklace,” which centers on curiosity, bravery, and helping.
Events & AwardsApr 01, 2026
AGA Opens 2026 Gemological Scholarship, Research Grant ApplicationsApplications are open for the AGA Gemological Scholarship Program through May 15, and until June 2027 for the Gemological Research Grant.
ColumnistsMar 31, 2026
Q1 Clues That Reveal Where Your Jewelry Store’s Sales Are Heading These customer behavior patterns say a lot about how successful your jewelry store is going to be this year, Emmanuel Raheb writes.
CollectionsMar 31, 2026
Mejuri Adds Silver to ‘Puzzle’ CollectionMejuri’s popular collection of 18-karat yellow gold vermeil rings debuted in sterling silver alongside new “Puzzle” slider charms.
CollectionsMar 31, 2026
Buddha Mama, Ashley Longshore to Host Pop-Up in DallasThe Miami-based jewelry brand and the NYC-based artist will be in Dallas from April 9-11.
SourcingMar 31, 2026
NDC Designates April 8 as 'World Diamond Day'The initiative invites those in the industry to share stories on social media highlighting the meaning and impact of natural diamonds.
SourcingMar 31, 2026
GIA VP Jillian Wolk to Take Over at Tracr Wolk’s first day on the job as CEO of Tracr, De Beers Group’s blockchain platform, will be May 1.
EditorsMar 30, 2026
Tom Moses Looks Back on His Decades at GIA Moses, who will leave the lab in May after nearly 50 years, discusses his start in the business, gemstones that stand out, and what’s next.
TrendsMar 30, 2026
Oscar Heyman Debuts First Spring CatalogThe new catalog, which showcases 35 one-of-a-kind pieces of jewelry, is a compliment to the company’s popular holiday catalog.
SourcingMar 30, 2026
Rio Tinto Hauls Last Load from DiavikProduction has ceased at the Canadian diamond mine, which has yielded more than 150 million carats of rough diamonds in its 23-year run.
MajorsMar 30, 2026
Tanishq Opens First New England LocationThe store opening marks the 10th United States location for the India-based jewelry retailer.
MajorsMar 27, 2026
Saks Global Has Changed Its Mind About Closing These 3 StoresTwo Saks Fifth Avenue locations, one in Florida and one in California, and one Neiman Marcus store are off the chopping block.
IndependentsMar 27, 2026
Jimmy West, Longtime LJG Executive Director, Dies at 72West, who started in the art department at the Leading Jewelers Guild in 1979, is remembered for his patience, kindness, and dedication.
