Shares of Movado declined after the watchmaker reported a drop in third-quarter sales and cut its full-year outlook ahead of the holiday shopping season.
The stock fell more than 9% to $26.25 in morning trading. Shares are down 19% this year.
The Paramus, N.J., company, which owns watch brands like Ebel and MVMT, cut its full-year sales outlook. with Chief Executive Efraim Grinberg saying the retail environment has gotten challenging in the U.S. and Europe.
Sales fell more than 11% in the third quarter.