NEW YORK (

TheStreet

) -

Movado's

(MOV) - Get Report

time is running out.

Shares of the watchmaker are tanking, after Movado management said after the market close on Monday that it expects to post a fourth-quarter loss, hurt by charges related to weakness in the jewelry sector.

Movado now expects a loss of $23.6 million to $24.6 million, which is bigger than the loss of $22.8 million it reported in the fourth-quarter of 2008.

Excluding one-time items, the loss for Movado should fall between 28 cents to 32 cents a share, more than the 25 cent loss predicted by analysts.

Movado foresees sales of $378 million, 18% lower than $461 million in the prior year.

Shares of Movado are plunging 18.7% to $11.47 in morning trading.

-- Reported by Jeanine Poggi in New York.

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