A minute a day is pretty bad. Even my Armitron which I paid about $45 for years ago keeps better time than that.Absolutely.
Here is an example. I've corrected the time on my SPB143J1 about a week ago (maybe less) and here is what is going on. The watch is losing about a minute per day, which is absolutely horrendous for a modern watch and for the price. I paid $1,800 CAD (including tax) (they did not have any sale on this model) which is not cheap.
The watch is great. The movement sucks.