EditorsNov 06, 2026
The Spectrum Pieces I Can’t Stop Thinking AboutFrom a Betta fish brooch to a “dragon’s trove” of zircon eggs, here are seven pieces that’ve stuck with Associate Editor Lauren McLemore.
FinancialsNov 26, 2019
Movado’s Q3 US Sales Sink 12%
Challenges “intensified” within the watch category and retail landscape, CEO Efraim Grinberg said.
The updated Movado Connect 2.0, released in the fall, performed well in the third quarter, the company said.
Paramus, N.J.—Movado Group fell short of revenue expectations in its third quarter, lowering its forecast for the year ahead.
Third-quarter net sales fell 2 percent to $205.6 million, compared with $208.9 million a year ago, below the $220 million analysts had expected.
The New Jersey-based company’s shares plummeted double digits in pre-market trading Wednesday.
Watch and accessories sales totaled $185.6 million in the third quarter, compared with $189.4 million a year ago.
“The decrease in overall sales was driven by a decline in our owned brands,” Chief Financial Officer Sallie DeMarsilis said on the company’s earnings call Wednesday morning.
Licensed brands and retail outlets saw a slight year-over-year increase in sales.
Sales in Movado’s U.S. watch and accessories segment decreased 12 percent to $66.3 million, down from $75 million last year, with the decrease driven by both licensed and owned brands.
Internationally, sales grew 4 percent to $119.3 million, compared with $114.3 million last year, with the strongest sales growth in Europe and the Middle East.
Sales from the company’s stores increased 2 percent. Movado has 46 outlet locations, two more than last year.
Gross profit was $110.1 million, or 54 percent of net sales, compared with $113.4 million, or 54 percent of net sales, in the third quarter last year.
CEO Efraim Grinberg attributed the third-quarter decline in part to the company’s boost in marketing investments, including a holiday television campaign for Movado, set to air next week, and the first national television campaign for its recently acquired MVMT brand, which launched this week.
The company spent $7.3 million more in marketing in this quarter than it did last year and expects to invest an additional $30 million by the end of the year, he noted on the earnings call.
“While this effort led to market share gains, we fell short of our sales plan due to the category performing below our expectations as challenges intensified within the watch category and retail landscape, which, combined with our increased marketing expenditures, impacted our results,” he said in a press release announcing the results.
Grinberg said while the U.S. wholesale business continues to impact Movado’s results, the company still holds the leading position within the $500 to $1,500 price category in the U.S.
“While the category and channel has been challenged, we see an opportunity to further enhance our position in watches between $1,000 and $3,000,” he said.
Sales of licensed brands, meanwhile, have grown 6 percent to date this
Editors' Picks
Sponsored by
year, said Grinberg, noting strong growth in Tommy Hilfiger, Lacoste and Coach.
Coach will be launching a new men’s line in time for the holiday season while Hugo Boss recently debuted its “Land, Air, and Sea” collection.
Among owned brands, Movado Bold and Fusion performed well as did the Movado Connect 2.0, an updated version of its smartwatch.
Looking ahead, the company lowered its outlook for fiscal 2020 to reflect its lower-than-expected results to-date as well as “the challenging watch category and retail environment, and currency headwinds.”
The company now expects net sales to be in the range of $690 million to $700 million compared with its previous guidance of $725 million to $740 million.
Coach will be launching a new men’s line in time for the holiday season while Hugo Boss recently debuted its “Land, Air, and Sea” collection.
Among owned brands, Movado Bold and Fusion performed well as did the Movado Connect 2.0, an updated version of its smartwatch.
Looking ahead, the company lowered its outlook for fiscal 2020 to reflect its lower-than-expected results to-date as well as “the challenging watch category and retail environment, and currency headwinds.”
The company now expects net sales to be in the range of $690 million to $700 million compared with its previous guidance of $725 million to $740 million.
More on Financials
The Latest
TrendsNov 06, 2026
Pat Pruitt’s DragonFly Earrings Take Flight on Election NightGroundbreaking New Mexico Governor-elect Deb Haaland wore the earrings, our Piece of the Week, when she declared victory on Tuesday.
MajorsNov 06, 2026
SNL’s Colin Jost Finds the Perfect Gift in Kay Jewelers’ Holiday AdJost goes on an epic journey, traversing rough seas and encountering a cyclops, to discover the perfect holiday gift.
Brought to you by
How Overnight Mountings’ Bridal Builder Makes Custom Engagement Ring Design Easier to SellWith customization becoming more expected in engagement ring shopping, the Bridal Builder makes the process tangible.
Supplier BulletinNov 05, 2026
Winning With GCAL 8X®: What’s Working at the CounterSponsored by GCAL by Sarine
Weekly QuizNov 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SurveysNov 05, 2026
What Retailers Should Know About Holiday Shoppers This YearFrom shrinking budgets to AI elves, here are five takeaways from holiday reports by Bain, Adobe, Mastercard, NRF, and insights from YouGov.
CollectionsNov 05, 2026
Judi Powers, Russell Jones Unleash Joy With New CollaborationThe designers combined their talents for Little Pet Portraits, hand-painted miniatures of our best friends set in a piece of jewelry.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
MajorsNov 05, 2026
Ariana Grande Stars In Swarovski’s Holiday Campaign“Joy: The Swarovski Musical” features Ariana Grande as the leading lady in scenes inspired by classic musical montages.
GradingNov 05, 2026
GIA to Offer Next-Day Holiday ServicesThe lab will bring back its complimentary next-day service for some reports starting next week.
CrimeNov 04, 2026
$250K+ in Undeclared Cartier Jewelry Seized at Philadelphia AirportA Pennsylvania woman failed to declare a ring and a bracelet, discarding the boxes and receipts to conceal the purchases, officials said.
Events & AwardsNov 04, 2026
NYC Jewelry Week 2026 Is the Largest Edition YetThe citywide celebration, slated for Nov. 16-22, is set to host more than 175 events, including live jewelry-making demos.
MajorsNov 04, 2026
Bergdorf Goodman Names New PresidentLanessa Elrod, former president and CEO of Louis Vuitton Americas, has stepped into the role as the retailer celebrates 125 years.
AuctionsNov 03, 2026
Infinity Gauntlet Set With 170+ Carats of Colored Gemstones Up for AuctionA replica of one of the most powerful objects in the Marvel Cinematic Universe, the glove is heading to auction next month in Abu Dhabi.
IndependentsNov 03, 2026
Longtime Jewelry Marketer Arthur Klein Dies at 89Klein, who had his own marketing agency and worked for Gabriel & Co. and Trans American Diamond, is remembered as a kind man.
IndependentsNov 03, 2026
Zadok Jewelers Toasts To 50 Years With Diamond Bracelet GiveawayTo enter the giveaway, locals can purchase a featured beverage from one of eight participating restaurants in Houston and Austin, Texas.
Events & AwardsNov 03, 2026
David Yurman Gem Awards Grant Opens 2027 ApplicationsThe grant recipient will be awarded $50,000 as well as mentoring meetings with executives at David Yurman and other industry executives.
Events & AwardsNov 03, 2026
NAJA, Instappraise Name 2026 Scholarship WinnersThe winners include a non-NAJA member seeking training, a member beginning NAJA courses, and a member becoming a Certified Master Appraiser.
AuctionsNov 02, 2026
197-Carat ‘Romanov Sapphire’ Heads to Sotheby’s GenevaThe rare jewel, which has links to Russia’s Romanov dynasty, is estimated to fetch up to $2 million.
CrimeNov 02, 2026
Customs Seizes More Than 400 Fake Audemars Piguet WatchesIt is one of several seizures of counterfeit jewelry and watches by U.S. Customs and Border Protection officials in Louisville this year.
MajorsNov 02, 2026
Lawrence Bock, Caryl Capeci, Amanda Coleman-Phelps Join JA Board Jewelers of America announced the additions to its board of directors following its annual general meeting, held last week.
CollectionsNov 02, 2026
Olympian Kristi Yamaguchi, Heller Jewelers Expand ‘Always Dream’ CollectionThe jewelry collection supports Yamaguchi’s Always Dream foundation, which provides reading and educational resources to families in need.
Events & AwardsOct 30, 2026
Illuminating Carved Paraiba Pendant, Suite of Moonstones Wow at Spectrum AwardsSpectrum’s “Best of Show” honors went to a 101-carat Paraiba carved to look like Medusa that has a magnet-activated LED light.
TrendsOct 30, 2026
Edina Kiss’ Pendants Say ‘Eye’m Watching You’Our Halloween Pieces of the Week are four “Eye” pendants, each set with colorful gemstones.
MajorsOct 30, 2026
The RealReal Hires Former eBay Exec as New Chief Merchandising OfficerAlexis Hoopes expanded eBay’s “Authenticity Guarantee” program during her tenure.
WatchesOct 29, 2026
Bucherer Opens Rolex Boutique in Washington StateThe Rolex-owned retailer’s new 4,700-square-foot store’s façade honors the Pacific Northwest’s evergreen forests.
TrendsOct 29, 2026
Amanda's Style File: All Treats, No Tricks Get into the Halloween spirit with this roundup of 13 spooky jewels.
