SourcingJul 06, 2026
Gemfields CEO Sean Gilbertson Steps DownAfter eight years, Gilbertson is leaving his post at the mining company, which is currently facing a slew of operational challenges.
FinancialsAug 29, 2019
Movado Lowers Full-Year Expectations Despite Strong Q2
The company pointed to the impact of tariffs, watch market challenges and “the increasingly volatile global environment.”
A Movado “Esperanza” watch. The Paramus, New Jersey-based watch company, which designs Movado and Ebel watches and has a stable of licensed brands including Coach and Tommy Hilfiger, reported 10 percent sales growth in Q2.
Paramus, N.J.—Movado Group saw second quarter sales rise but is lowering its full-year guidance due to the impact of tariffs, watch market challenges and “the increasingly volatile global environment.”
The Paramus, New Jersey-based watch design and distribution company reported second quarter sales of $157.8 million, up 10 percent (11 percent on a constant-currency basis) year-over-year.
Gross profit was $85.3 million, or 54.1 percent of sales, compared with $77.8 million, or 54 percent of sales in the previous second quarter.
Adjusted for one-offs mainly related to acquisitions, second quarter net income was $8.3 million, down from $10.6 million in the same period last year.
Year-to-date, net sales have totaled $304.4 million, a year-over-year increase of 12 percent (15 percent on a constant-currency basis).
Gross profit was $164.2 million, or 54 percent of sales, compared to $145.4 million, or 53.6 percent, a year ago.
Adjusted net income for the first half of the fiscal year was $13.9 million, down from $19.3 million last year.
Commenting on the results, Chairman and CEO Efraim Grinberg noted Movado Group delivered sales growth despite planned incremental investments, currency headwinds and an “increasingly challenging environment for our category.”
He said the company’s licensed brands, which include Tommy Hilfiger, Coach and Hugo Boss, gained market share and Movado.com recorded strong sales growth.
Grinberg also noted the moves the company’s made to position itself for the future, including the acquisition of two brands marketed to younger consumers with reach that extends outside the U.S. market, Olivia Burton and MVMT, product innovation and digital investments.
But a number of factors have the watch company cutting its full-year sales forecast, from the previously predicted $750 million-$765 million to $725 million-$740 million.
“As we begin the second half of the year, we believe the innovation in our offerings and our strategic initiatives strengthen our position,” Grinberg said, citing the Movado Connect 2.0 and Bold Evolution as key products for the fall and holiday season.
“That said, we believe it is prudent to update our outlook given unfavorable currency rates, ongoing challenges in our category, the impact of tariffs and the increasingly volatile global environment.”
More on Financials
The Latest
IndependentsJul 06, 2026
Bachendorf’s To Open Fifth Store In DallasThe new location is set to open this winter, featuring the retailer’s first rotating jewelry designer residency.
MajorsJul 06, 2026
Graff Names BTS Star Jung Kook as New AmbassadorThe pop artist appears in the latest campaign for the “Laurence Graff Signature” collection.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
CollectionsJul 06, 2026
Pandora’s New Baroque Pearl Collection Is a Whimsical ‘Wonder’One-of-a-kind pearls take the shape of ice cream cones, frogs, submarines, and other imaginative charms.
Weekly QuizJul 01, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJul 02, 2026
London Diamond Bourse Elects First Female PresidentCharlotte Rose said her election is “a sign that this is an industry capable of change.”
Supplier BulletinJul 02, 2026
Elevating Retail Showcases with Today's Necklace & Bracelet TrendsSponsored by Rio Grande Jewelry Supply
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
TrendsJul 02, 2026
Oscar Heyman’s Flag Brooch Celebrates AmericaThe American jewelry house, founded by Latvian immigrants, has been creating American flag brooches since 1917.
IndependentsJul 02, 2026
D. Geller & Son Partners with KSU Art Students on Store MuralThe artwork celebrates the Atlanta jeweler’s legacy and symbolizes its commitment to supporting local artists and its community.
Events & AwardsJul 02, 2026
Stratus Estate Buyers Offers Jewelers Turnkey Buying EventsIts team can evaluate jewelry and watches, as well as luxury handbags, artwork, and collectibles.
SurveysJul 01, 2026
Consumer Confidence Ticks Up in JuneFalling oil prices were a factor in the slight month-over-month improvement.
CollectionsJul 01, 2026
Rio Grande Launches First Finished Bridal CollectionThe new offering comprises more than 120 bridal and engagement ring styles with natural and lab-grown diamonds.
WatchesJul 01, 2026
Rolex Unveils Clock at Rockefeller CenterThe clock is part of the celebration for the soon-to-open Rolex headquarters on New York City’s Fifth Avenue.
IndependentsJul 01, 2026
Kristen Cannon of Valobra Master Jewelers Dies at 49The public relations professional is remembered for her benevolent generosity and unwavering commitment to those around her.
WatchesJun 30, 2026
Pokémon Fans Will Want to Catch This New G-Shock WatchThe new watch commemorates Pokémon’s 30th anniversary.
MajorsJun 30, 2026
Saks Global Emerges From Bankruptcy With New NameThe luxury retailer is now called Exemplar Luxury Group.
CollectionsJun 30, 2026
Jade Ruzzo’s New Collection Embodies the Art of Being a LadyThe “Lady” collection is a new take on old beauty standards with gemstone-adorned hair pins and combs, a compact mirror necklace, and more.
SourcingJun 30, 2026
Blue Nile Introduces Montana Sapphire CollectionThe new line is included in the e-tailer’s curation of jewelry celebrating America’s 250th anniversary.
GradingJun 30, 2026
AGS Opens 2026 Recertification ExamAll active members who earned their credential or designation before Dec. 1, 2025, are required to recertify.
CollectionsJun 29, 2026
Briony Raymond’s New Collection Is a ‘Carousel’ of Hard StonesThe new jewelry collection uses a colorful palette of onyx, malachite, tiger’s eye, mother-of-pearl, lapis, turquoise, and coral.
IndependentsJun 29, 2026
Look Inside Lee Michaels’ Revamped Mississippi FlagshipLee Michaels Fine Jewelry is celebrating 30 years in the Ridgeland, Mississippi community.
GradingJun 29, 2026
National Rarities Announces New Gemology ManagerSean Milliner has joined the company.
GradingJun 29, 2026
GIA to Open New London CampusClasses will begin in August at GIA’s new Canary Wharf location.
AuctionsJun 26, 2026
‘Hogback’ Diamond Ring Finds a New Home A ring set with “hogback” diamonds, an early stone cut dating to around the 16th century, sold for more than $20,000 at a U.K. auction.
CollectionsJun 26, 2026
Strength Is Sharpened Into Beauty in Kris Averi’s ‘Prism Thorn’ RingThe rainbow version of the ring, our Piece of the Week, features angel-cut, octahedral lab-grown sapphires designed to be worn as armor.
MajorsJun 26, 2026
Rembrandt Charms Debuts ‘Charms That Give Back’The new initiative donates a portion of the proceeds from select charms to charitable causes.
