PodcastsJan 12, 2026
The latest poscasttest
FinancialsFeb 06, 2016
Movado’s Q3 sales slip 2 percent
Though sales and income fell slightly, Movado Group said its brands “outperformed” other watches in what its CEO described as an “extremely challenging retail environment.”
Paramus, N.J.--Though sales and income both fell in the third quarter for Movado Group, Chairman and CEO Efraim Grinberg called the company’s results “solid,” driven by both Movado and its licensed brands outselling other watches at retail.
In its financial results released Tuesday, Movado reported that its total net sales during the three-month period ended Oct. 31 were down nearly 2 percent year-over-year, from $188.6 million to $185.6 million.
Net income fell from $22.2 million to $21.5 million, a 3 percent decrease, while operating income rose from $33.3 million to $33.5 million.
Commenting on the results, Grinberg said, “We are pleased with our third quarter results, which reflect the successful execution of our growth and efficiency strategies during an extremely challenging retail environment. Our solid results were driven by both Movado and our licensed brands portfolio, which continue to outperform the overall watch category at retail.”
Year-to-date, Movado has experienced a very slight decrease in net sales, from $453.1 million last year to $451.7 million this year. That is a less than a 1 percent decline.
Operating income for the half-year also slid, decreasing to $58.6 million compared with $61.4 million in the same period last year. Net income has fallen 11 percent to $37.2 million.
Movado said it expects net sales to be in the range of $590 million to $600 million for the full fiscal year 2016.
Earlier this month, the brand introduced its first smartwatches, marking its entrance into the wearable technology category.
Grinberg said the company believes that the smartwatches, along with the introduction of Movado Edge, a watch collection developed in collaboration with industrial designer Yves Behar, “position us well for the upcoming holiday season.”
Editors' Picks
Sponsored by
More on Financials
The Latest
Weekly QuizOct 03, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
PodcastsJan 12, 2026
Introducing My Next Question, the PodcastA monthly podcast series for jewelry professionals
Brought to you by
Navigating Cybersecurity: Essential Guidance for JewelersFrom protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
PodcastsNov 27, 2025
Test Podcast With VideoTest Podcast With Video. New interview with Ada Lovelace.
PodcastsNov 25, 2025
Test New Podcast PostAbstract for tests. New Podcast interview with John Lennon, Jimi Hendrix and Jim Morison.
ColumnistsOct 09, 2024
Peter Smith: 7 Things to Know When Selling LuxuryAhead of the holiday season, Smith delves into the often subconscious reasons people buy luxury products for themselves or their loved ones.
AuctionsOct 09, 2024
Rolex Worn on Apollo 14 Mission Up for SaleThe GMT-Master “Pepsi” belonging to astronaut Edgar Mitchell is a standout in RR Auction’s online “Space Auction,” going on now.
MajorsOct 09, 2024
New Simon Campaign Invites Gen Z to ‘Meet Me At The Mall’The ads celebrate the mall culture of the ‘80s and ‘90s.
MajorsOct 09, 2024
PGI Launches New Virtual Sales TrainingRetail sales associates can access the video series on mobile to refresh their selling skills.
Policies & IssuesOct 09, 2024
GJNRF: Reaching Out, Rebuilding Futures For 25 years, India’s Gem & Jewellery National Relief Foundation has provided aid in the wake of war, natural disasters, and global crises.
AuctionsOct 08, 2024
Sotheby’s Selling Jewelry That Belonged to a Bulgarian TsarThe November auction will feature a collection of jewels owned by Ferdinand I, the first king of modern Bulgaria, and his family.
SourcingOct 08, 2024
Rio Tinto Begins New Phase of Production That Will Extend Diavik’s LifeCommercial production has begun underground at the Canadian diamond mine’s A21 pipe.
SurveysOct 08, 2024
What to Know About Online Shopping This Holiday SeasonDeloitte and Adobe Analytics shared their insights on the season, from the retail sales forecast to the role of generative AI.
CollectionsOct 08, 2024
Sylvie Adds New Men’s BandsThe Texas-based jeweler collaborated with luxury clothing brand Uncommon Man on men’s bands designed with European influences.
SourcingOct 08, 2024
Is Current Diamond Industry Turbulence Shaping a ‘New Normal’? Industry players have found ways to cope with market conditions while working to reshape themselves in the face of emerging realities.
SourcingOct 07, 2024
Rio Tinto to Offer 76 Diamonds in 2024 Beyond Rare Tender The sales event, in its second year, features a selection of rare diamonds from the miner’s Argyle and Diavik diamond mines.
CollectionsOct 07, 2024
Olympian Kristi Yamaguchi Partners With Heller Jewelers on New CollectionA portion of the proceeds from the “Always Dream” collection will go to Yamaguchi's foundation, supporting early childhood literacy.
