XML 16 R2.htm IDEA: XBRL DOCUMENT v3.6.0.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Jan. 31, 2017
Jan. 31, 2016
Jan. 31, 2015
Income Statement [Abstract]      
Net sales [1] $ 552,752 $ 594,923 $ 586,980
Cost of sales 257,935 277,993 276,998
Gross profit 294,817 316,930 309,982
Selling, general, and administrative 240,836 246,823 238,495
Operating income [2],[3],[4],[5] 53,981 70,107 71,487
Other expense (Note 6) (1,282)    
Interest expense (1,464) (1,109) (489)
Interest income 219 127 166
Income before income taxes 51,454 69,125 71,164
Provision for income taxes (Note 7) 16,315 23,360 19,264
Net income 35,139 45,765 51,900
Less: Net income attributed to noncontrolling interests 78 671 124
Net income attributed to Movado Group, Inc. $ 35,061 $ 45,094 $ 51,776
Basic income per share:      
Weighted basic average shares outstanding 23,070 23,525 25,276
Net income per share attributed to Movado Group, Inc. $ 1.52 $ 1.92 $ 2.05
Diluted income per share:      
Weighted diluted average shares outstanding 23,267 23,774 25,581
Net income per share attributed to Movado Group, Inc. $ 1.51 $ 1.90 $ 2.02
Dividends paid per share $ 0.52 $ 0.44 $ 0.40
[1] The United States and International net sales are net of intercompany sales of $289.2 million, $309.1 million and $305.1 million for the fiscal years ended January 31, 2017, 2016 and 2015, respectively.
[2] Fiscal 2016 Wholesale and United States and International operating income included a $4.0 million charge as a result of actions taken by the Company in fiscal 2016 to achieve greater operating efficiencies and streamline its operations.
[3] Fiscal 2017 Wholesale and United States operating income included a pre-tax charge of $1.8 million, as a result of the immediate vesting of stock awards and certain other compensation related to the announcement of the retirement of Rick Coté, the Company’s former Vice Chairman and Chief Operating Officer, in fiscal 2017.
[4] The International operating income included $40.0 million, $44.5 million and $47.1 million of certain intercompany profits related to the Company’s supply chain operations for the fiscal years ended January 31, 2017, 2016 and 2015, respectively.
[5] The United States operating income included $25.5 million, $27.0 million and $19.3 million of unallocated corporate expenses for the fiscal years ended January 31, 2017, 2016 and 2015, respectively.