This year’s honorees include a Midwest retailer and two multi-store independents, one in New York and the other in New England.
Movado Group Sees Flat Q2 Sales
The company said fashion watches and licensed brands were down in the United States.

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
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.
The Latest

As an homage to iconic crochet blankets, the necklace features the nostalgic motif through a kaleidoscope of cabochon-cut stones.

Discover the dozen up-and-coming brands exhibiting in the Design Atelier for the first time.

When investing in your jewelry business, it's important not to overlook the most crucial element of success: the sales associates.

The “Royal Ruby” Collection is a quintet of untreated rubies curated by collector Jack Abraham.


The entrepreneur and “Shark Tank” star will share his top tips for success.

Two existing executives have been given new roles.

More shoppers are walking out without buying. Here’s how smart jewelers can bring them back—and the tool they need to do it right.

Meredith Tiderington, an electrical engineering student, was selected for the award.

It will quit assigning the stones specific color and clarity grades in favor of applying “new descriptive terminology.”

From design trends to sustainability, here’s a roundup of can’t-miss education sessions at JCK Las Vegas.

The Jewelers’ Security Alliance offers advice for those attending the annual trade shows.

Her new role is director of strategic initiatives.

The designer is embracing bold pieces with weight to them in “AU79,” a collection she celebrated with a creative launch party.

The index partially rebounded after months of decline, due in part to the U.S.-China deal to temporarily reduce import tariffs.

The actress stars in the latest campaign set in Venice, Italy, and is set to participate in other creative initiatives for the jeweler.

The company has joined other labs, including GIA and Lotus Gemology, in adopting the Chinese term for "jadeite jade."

The large stone will be offered at its June sale along with a selection of secondary-type rubies from a new area of the Montepuez mine.

Located in Bangkok, the laboratory is Gemological Science International’s 14th location worldwide.

Those born in June have a myriad of options for their birthstone jewelry.

The diamond industry veteran has been named its senior sales executive.

Between tariffs and the sky-high cost of gold, designers enter this year’s Las Vegas shows with a lot of questions and few answers.

Designed by founder Renato and his daughter Serena Cipullo, it showcases a flame motif representing unity and the power of gathering.

However, the tariffs remain in effect in the short term, as an appeals court has stayed the U.S. Court of International Trade’s decision.

The pop icon is one step closer to launching her “B Tiny” jewelry collection, a collection she first began posting about last fall.

Sponsored by Stuller

It was featured in the miner’s latest sale, which brought in $24.8 million.