Supplier BulletinApr 24, 2025
Protect Your Customers and Your BusinessSponsored by the Gemological Institute of America
FinancialsMar 30, 2018
Movado Group’s Q4 Sales Up 14%
Full-year net sales increased 3 percent as owned and licenses brands continued to do well internationally.
CEO Efraim Grinberg said the Movado brand performed well in retail channels in Q4, in particular its Museum Dial Bauhaus collection and the Movado Connect smartwatch, pictured here.
Paramus, N.J.--Movado Group said net sales were up in both its fourth quarter and full year as its owned and licensed brands continued to perform well in markets outside the United States.
According to the watch manufacturer, net sales in the fourth quarter ended Jan. 31 were up 14 percent to $149.2 million.
Gross profit for the three-month period was $78.7 million, or 53 percent of sales, compared with $64.7 million, or 50 percent of sales, in the same period last year.
Operating income was up 79 percent to $13.3 million but the company recorded a net loss of $33.9 million, compared with net income of $5.2 million last year, as the company suffered a $45 million charge in the fourth quarter relating to the 2017 Tax Act that was enacted at the end of the year.
Movado also noted that comparable sales for its Movado company stores were up 6 percent for the quarter and that, during the period, performance was driven by the strength of its owned and licensed brands as well accelerated growth of its subsidiaries in the U.K., France and Germany.
The company also reported a very strong performance from the Olivia Burton brand, acquired last summer, with CEO Efraim Grinberg saying in a conference call Thursday morning that the company sees “a great opportunity for continued innovation and growth on a global basis.”
For its biggest brand, Movado, Grinberg said sales dropped by mid-single digits in the fourth quarter as certain wholesale channels in the United States remain “challenging.”
Strong performers from the brand during the holiday season were the Museum Dial Bauhaus collection—introduced to honor the 75th anniversary of the museum dial—men’s bracelet watches and the Movado Connect smartwatch.
The CEO also said that Movado.com’s sales were up 53 percent in the fourth quarter.
For the full year, Movado Group’s net sales were up 3 percent, increasing from $552.8 million to $568 million.
Gross profit was $298.1 million, or 53 percent of sales, compared with gross profit of $294.8 million, again 53 percent of sales, in the prior year.
Net loss was $15.2 million for fiscal 2018, compared with net income of $35.1 million last year, though the company offered no explanation Thursday behind this, while operating income was $43.2 million, compared with $54 million last year.
The company did not exhibit at Baselworld this year, opting instead to invest in a “more personal
venue” to communicate and showcase products to wholesale customers, Grinberg said. The company held its first Movado Group Summit in Davos, Switzerland, around the same time as Baselworld.
Movado is using the money it would have spent on the show for consumer-facing initiatives as well, which so far has included the establishment of a Digital Center of Excellence and the appointment of a chief digital officer and a vice president of social media.
Driving growth in digital will be a focus this year, Grinberg said. He also noted during the company’s earnings conference call that it expects to see sales grow in North America this year.
Movado said it anticipates overall net sales for fiscal 2019 to be in the range of $605 million to $615 million and for operating income to be about $68 million to $71 million.
In addition to launching its Movado Museum Classic, which Grinberg said received a “strong” response from the retailers who were in Davos, the company will evolve its new Movado advertising campaign for print, outdoor and digital during the coming fiscal year.
Movado is using the money it would have spent on the show for consumer-facing initiatives as well, which so far has included the establishment of a Digital Center of Excellence and the appointment of a chief digital officer and a vice president of social media.
Driving growth in digital will be a focus this year, Grinberg said. He also noted during the company’s earnings conference call that it expects to see sales grow in North America this year.
Movado said it anticipates overall net sales for fiscal 2019 to be in the range of $605 million to $615 million and for operating income to be about $68 million to $71 million.
In addition to launching its Movado Museum Classic, which Grinberg said received a “strong” response from the retailers who were in Davos, the company will evolve its new Movado advertising campaign for print, outdoor and digital during the coming fiscal year.
More on Financials
The Latest
EditorsApr 24, 2025
Q&A: Wolf’s CEO Talks U.S. ExpansionSimon Wolf shares why the time was right to open a new office here, what he looks for in a retail partner, and why he loves U.S. consumers.
IndependentsApr 24, 2025
Longtime Iowa Jeweler Herman Ginsberg Dies at 99 A third-generation jeweler, Ginsberg worked at his family’s store, Ginsberg Jewelers, from 1948 until his retirement in 2019.
Brought to you by
Protect Your Customers and Your BusinessThe risk of laboratory-grown diamonds being falsely presented as natural diamonds presents a very significant danger to consumer trust.
SourcingApr 24, 2025
Young Diamantaires Transition to NonprofitThe organization also announced its board of directors.
Weekly QuizApr 18, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsApr 24, 2025
Amanda’s Style File: So CharmingCharms may be tiny but with their small size comes endless layering possibilities, from bracelets to necklaces and earrings.
MajorsApr 23, 2025
Bulgari Doubles Size of Jewelry Factory in ItalyLocated in Valenza, the now 355,000-square-foot facility includes a new jewelry school that’s open to the public, Scuola Bulgari.
Events & AwardsApr 23, 2025
PDPaola Creative Director Wins FGI’s ‘Rising Star’ AwardPaola Sasplugas, co-founder of the Barcelona-based jewelry brand, received the Fine Jewelry Award.
AuctionsApr 23, 2025
Rare Custom Rolex Daytona Heads to AuctionA platinum Zenith-powered Daytona commissioned in the late ‘90s will headline Sotheby’s Important Watches sale in Geneva next month.
MajorsApr 23, 2025
David Yurman’s New Campaign Stars Carmelo Anthony, Jaylen BrownThe basketball stars wear men’s jewelry from the “Curb Chain” collection.
MajorsApr 22, 2025
Zales’ Rebrand Takes Playful Approach to Fine JewelryThe Signet Jewelers-owned retailer wants to encourage younger shoppers to wear fine jewelry every day, not just on special occasions.
AuctionsApr 22, 2025
Christie’s to Auction JAR Jewelry CollectionThe 21 pieces, all from a private collector, will be offered at its Magnificent Jewels auction next month.
ColumnistsApr 22, 2025
The PR Adviser: Building Buzz Through Word of MouthLilian Raji answers a question from a reader who is looking to grow her jewelry business but has a limited marketing budget.
GradingApr 22, 2025
Avi Levy Is GCAL By Sarine’s New Chief Growth OfficerGCAL by Sarine created the new role to sharpen the company’s focus on strategic partnerships and scalable expansion.
IndependentsApr 22, 2025
Brinker’s Jewelers Acquires Fellow IndependentThe Indiana jeweler has acquired Scottsdale Fine Jewelers in Scottsdale, Arizona.
Events & AwardsApr 21, 2025
An Exhibition Exploring the History of Cartier Is Now on Display“Cartier: Design, Craft, and Legacy” opened earlier this month at the Victoria and Albert Museum in London.
IndependentsApr 21, 2025
New York Jeweler to Close After 111 YearsVan Cott Jewelers in Vestal, New York, is hosting a going-out-of-business sale.
IndependentsApr 21, 2025
IJO Names New Director of Vendor Relations, Merchandise StrategyIndustry veteran Samantha Larson has held leadership roles at Borsheims, McTeigue & McClelland, Stuller, and Long’s Jewelers.
Events & AwardsApr 21, 2025
Jewelers of Louisiana, Mississippi Jewelers Association to Co-Host ConventionThe two organizations will hold the educational event together this fall in Mississippi.
Events & AwardsApr 18, 2025
Daymond John to Give Keynote at JCK Las VegasThe entrepreneur and “Shark Tank” star will share his top tips for success.
CollectionsApr 18, 2025
Piece of the Week: Dukachi’s ‘Easter Bread’ PendantThe Ukrainian brand’s new pendant is modeled after a traditional paska, a pastry often baked for Easter in Eastern European cultures.
IndependentsApr 18, 2025
Bremer Jewelry to Reveal Renovated StoreThe jeweler has announced a grand reopening for its recently remodeled location in Peoria, Illinois.
MajorsApr 18, 2025
Tiffany & Co. Employees Star in Mother’s Day CampaignThe “Strong Like Mom” campaign features moms who work at Tiffany & Co. and their children.
CollectionsApr 17, 2025
John Hardy, Athena Calderone Partner on Art Deco Decor-Inspired CollectionInterior designer Athena Calderone looked to decor from the 1920s and 1930s when crafting her first fine jewelry collection.
Lab-GrownApr 17, 2025
NDC Launches Its Diamond Learning CenterThe free program provides educational content for jewelry salespeople and enthusiasts to learn or refresh their diamond knowledge.
Policies & IssuesApr 17, 2025
Jewelers of America Requests Tariffs Testimonials from MembersThe feedback will be used to prepare other jewelers for the challenges ahead, the organization said.
