By Roshan Fernandez

Shares of Movado declined after the watch brand company said it plans to raise some prices as a result of economic uncertainty and unpredictable impacts from tariffs.

Shares fell 6.8% to $16.24 during Thursday's trading, and the stock is down about 17% year to date.

The Paramus, N.J.-based company didn't provide full-year guidance given the economic environment, and Chief Executive Efraim Grinberg said they anticipate "continued market volatility."

Grinberg said Movado can partially mitigate impacts of the current temporary tariff rates with selective price increases at the wholesale and retail levels.

"Still, we see resilience in the category, with young consumers embracing trend-forward watches and jewelry," Grinberg said on the earnings call.

Movado reported a slimmer first-quarter profit of $1.42 million, or 6 cents a share, for the period ended April 30. That compares with $2.02 million, or 9 cents a share, a year earlier.

Excluding one-time items, per-share earnings in the first quarter were 8 cents.

Sales fell to $131.8 million from $134.4 million during the year-ago quarter.

Both U.S. sales and international sales were down, Chief Financial Officer Sallie DeMarsilis said on the call. Sales decreased across owned brands and, to a lesser extent, at the company's stores, she said. That was partially offset by an increase in licensed brand sales.

Write to Roshan Fernandez at roshan.fernandez@wsj.com

(END) Dow Jones Newswires

May 29, 2025 11:25 ET (15:25 GMT)

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