Luxury watch maker Movado Group Inc. on Monday said it expects to report a fourth-quarter loss, hurt by several charges in the quarter related to the downturn in the jewelry industry.

The announcement after the market closed sent shares falling in after-hours trading. Shares fell $1.29, or 9 percent, to $12.81.

The company said for the quarter ending Jan. 31 it expects a net loss of $23.6 million to $24.6 million, steeper than a loss of $22.8 million in the same period last year.

When excluding one-time factors, the company expects a net loss of between $7 million aand $8 million for the quarter, or 28 to 32 cents per share. On an adjusted basis, it lost $8.8 million, or 36 cents a share, in the quarter last year.

Analysts, who typically exclude one-time items from their estimates, predict the company loses 25 cents a share in the quarter, according to Thomson Reuters.

The company said it planned to take the following charges in the quarter: pre-tax non-cash reserve of $8.8 million, non-cash impairment charge of $7.6 million related to the writedown of asets and non-cash deferred tax expense of about $11.1 million. That's partially offset by a cash income-tax benefit of about $8 million.

Luxury goods makers have suffered since consumers pulled back on spending amid the economic downturn. Retailers have been selling through their stock and limiting thir orders of new merchandise, and also dealing with liquidation and credit risks.

For the fiscal year, Movado expects a net loss of between $54.6 million to $55.6 million, worse than profit of $2.3 million, or 64 cents a share in the previous year.

When stripping out one-time factors, the company expects to lose between $11.9 million and $12.9 million for the year, or 48 to 53 cents per share.

Analysts predict a net loss of 42 cents a share for the year on revenue of $385.4 million, according to Thomson.

Net sales are expected to be about $378 million, which is down 18 percent from $461 million in the prior fiscal year.

CEO Efraim Grinberg said in a statement he expects to boost investments in brands through marketing and advertising in the next fiscal year.

For fiscal 2011, the company expects to report a net loss of between $5 million and $10 million, or 20 to 40 cents a share. The guidance assumes an increase in sales of 10 percent to 15 percent.