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v3.25.2

Segment and Geographic Information (Tables) | 6 Months Ended
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Jul. 31, 2025
Segment Reporting [Abstract] |
Operating Segment Data | Operating Segment Data for the Three Months Ended July 31, 2025 and 2024 (in thousands):
|  | Net Sales |
|  | 2025 |  |  | 2024 |
|  |  |  |  | (As Restated) |
Watch and Accessory Brands: |  |  |  |  |  |
Owned brands category |  | $ | 42,120 |  |  | $ | 45,364 |
Licensed brands category |  |  | 92,419 |  |  |  | 84,389 |
After-sales service and all other |  |  | 1,138 |  |  |  | 1,858 |
Total Watch and Accessory Brands |  |  | 135,677 |  |  |  | 131,611 |
Company Stores |  |  | 26,152 |  |  |  | 25,389 |
Consolidated total |  | $ | 161,829 |  |  | $ | 157,000 |
|  | Watch and Accessory Brands |  | Company Stores |  | Consolidated Total |  |  | Watch and Accessory Brands |  | Company Stores |  | Consolidated Total |
|  | 2025 |  | 2025 |  | 2025 |  |  | 2024 |  | 2024 |  | 2024 |
|  |  |  |  |  |  |  |  | (As Restated) |  |  |  | (As Restated) |
Net sales |  | $ | 135,677 |  | $ | 26,152 |  | $ | 161,829 |  |  | $ | 131,611 |  | $ | 25,389 |  | $ | 157,000 |
Cost of sales |  |  | 63,831 |  |  | 10,433 |  |  | 74,264 |  |  |  | 61,478 |  |  | 10,270 |  |  | 71,748 |
Gross profit |  |  | 71,846 |  |  | 15,719 |  |  | 87,565 |  |  |  | 70,133 |  |  | 15,119 |  |  | 85,252 |
Selling, general and administrative |  |  | 72,015 |  |  | 11,543 |  |  | 83,558 |  |  |  | 71,171 |  |  | 11,439 |  |  | 82,610 |
Operating (loss)/income (1) (2) |  | $ | (169 | ) | $ | 4,176 |  | $ | 4,007 |  |  | $ | (1,038 | ) | $ | 3,680 |  | $ | 2,642 |
Other income, net |  |  |  |  |  |  | 1,202 |  |  |  |  |  |  |  | 1,877 |
Interest expense |  |  |  |  |  |  | (110 | ) |  |  |  |  |  |  | (110 | )
Income before income taxes |  |  |  |  |  | $ | 5,099 |  |  |  |  |  |  | $ | 4,409 |
Depreciation and amortization |  | $ | 1,825 |  | $ | 552 |  | $ | 2,377 |  |  | $ | 1,752 |  | $ | 542 |  | $ | 2,294 |
(1) The operating loss in the Watch and Accessory Brands Segment included $10.7 million and $5.5 million of unallocated corporate expenses for the three months ended July 31, 2025 and 2024, respectively, and $14.6 million and $14.1 million of certain intercompany profits related to the Company's supply chain operations for the three months ended July 31, 2025 and 2024, respectively. (2) The operating loss in the Watch and Accessory Brands segment for the three months ended July 31, 2025, included a pre-tax charge of $0.9 million related to the Company's cost-savings initiative and a pre-tax charge of $2.1 million of professional fees related to the investigation of allegations of misconduct within the Dubai branch of the Company's Swiss subsidiary. Operating Segment Data as of and for the Six Months Ended July 31, 2025 and 2024 (in thousands):
|  | Net Sales |
|  | 2025 |  |  | 2024 |
Watch and Accessory Brands: |  |  |  |  | (As Restated) |
Owned brands category |  | $ | 75,252 |  |  | $ | 85,303 |
Licensed brands category |  |  | 172,662 |  |  |  | 158,464 |
After-sales service and all other |  |  | 2,565 |  |  |  | 4,956 |
Total Watch and Accessory Brands |  |  | 250,479 |  |  |  | 248,723 |
Company Stores |  |  | 43,119 |  |  |  | 42,656 |
Consolidated total |  | $ | 293,598 |  |  | $ | 291,379 |
|  | Watch and Accessory Brands |  | Company Stores |  | Consolidated Total |  |  | Watch and Accessory Brands |  | Company Stores |  | Consolidated Total |
|  | 2025 |  | 2025 |  | 2025 |  |  | 2024 |  | 2024 |  | 2024 |
|  |  |  |  |  |  |  |  | (As Restated) |  |  |  | (As Restated) |
Net sales |  | $ | 250,479 |  | $ | 43,119 |  | $ | 293,598 |  |  | $ | 248,723 |  | $ | 42,656 |  | $ | 291,379 |
Cost of sales |  |  | 117,789 |  |  | 16,894 |  |  | 134,683 |  |  |  | 116,558 |  |  | 16,649 |  |  | 133,207 |
Gross profit |  |  | 132,690 |  |  | 26,225 |  |  | 158,915 |  |  |  | 132,165 |  |  | 26,007 |  |  | 158,172 |
Selling, general and administrative |  |  | 132,868 |  |  | 21,749 |  |  | 154,617 |  |  |  | 131,543 |  |  | 21,869 |  |  | 153,412 |
Operating (loss)/income (1) (2) |  | $ | (178 | ) | $ | 4,476 |  | $ | 4,298 |  |  | $ | 622 |  | $ | 4,138 |  | $ | 4,760 |
Other income, net |  |  |  |  |  |  | 2,962 |  |  |  |  |  |  |  | 4,049 |
Interest expense |  |  |  |  |  |  | (221 | ) |  |  |  |  |  |  | (228 | )
Income before income taxes |  |  |  |  |  | $ | 7,039 |  |  |  |  |  |  | $ | 8,581 |
Depreciation and amortization |  | $ | 3,560 |  | $ | 1,097 |  | $ | 4,657 |  |  | $ | 3,475 |  | $ | 1,107 |  | $ | 4,582 |
(1) The operating (loss)/income in the Watch and Accessory Brands Segment included $18.7 million and $15.0 million of unallocated corporate expenses for the six months ended July 31, 2025 and 2024, respectively, and $28.6 million and $28.3 million of certain intercompany profits related to the Company's supply chain operations for the six months ended July 31, 2025 and 2024, respectively. (2) The operating loss in the Watch and Accessory Brands segment for the six months ended July 31, 2025, included a pre-tax charge of $1.5 million related to the Company's cost-savings initiative and a pre-tax charge of $2.1 million of professional fees related to the investigation of allegations of misconduct within the Dubai branch of the Company's Swiss subsidiary.
|  | Total Assets |  |  | Capital Expenditures |
|  | July 31, 2025 |  |  | January 31, 2025 |  |  | July 31, 2024 |  |  | July 31, 2025 |  |  | July 31, 2024 |
|  |  |  |  |  |  |  | (As Restated) |  |  |  |  |  |  |
Watch and Accessory Brands |  | $ | 687,465 |  |  | $ | 668,403 |  |  | $ | 683,021 |  |  | $ | 1,896 |  |  | $ | 2,494 |
Company Stores |  |  | 61,254 |  |  |  | 60,828 |  |  |  | 59,459 |  |  |  | 930 |  |  |  | 1,419 |
Consolidated total |  | $ | 748,719 |  |  | $ | 729,231 |  |  | $ | 742,480 |  |  | $ | 2,826 |  |  | $ | 3,913 |
Geographic Segment Data | Geographic Location Data for the Three Months Ended July 31, 2025 and 2024 (in thousands):
|  | Net Sales |  |
|  | 2025 |  |  | 2024 |  |
|  |  |  |  | (As Restated) |  |
United States |  | $ | 69,429 |  |  | $ | 70,575 |  |
International |  |  | 92,400 |  |  |  | 86,425 |  |
Consolidated total |  | $ | 161,829 |  |  | $ | 157,000 |  |
United States and International net sales are net of intercompany sales of $82.1 million and $73.5 million for the three months ended July 31, 2025 and 2024, respectively. Geographic Location Data as of and for the Six Months Ended July 31, 2025 and 2024 (in thousands):
|  | Net Sales |  |
|  | 2025 |  |  | 2024 |  |
|  |  |  |  | (As Restated) |  |
United States |  | $ | 124,129 |  |  | $ | 126,139 |  |
International |  |  | 169,469 |  |  |  | 165,240 |  |
Consolidated total |  | $ | 293,598 |  |  | $ | 291,379 |  |
United States and International net sales are net of intercompany sales of $156.1 million and $144.0 million for the six months ended July 31, 2025 and 2024, respectively.
|  | Long-Lived Assets |
|  | July 31, 2025 |  |  | January 31, 2025 |  |  | July 31, 2024 |
United States |  | $ | 69,596 |  |  | $ | 75,160 |  |  | $ | 74,440 |
International |  |  | 26,730 |  |  |  | 30,769 |  |  |  | 31,225 |
Consolidated total |  | $ | 96,326 |  |  | $ | 105,929 |  |  | $ | 105,665 |
|  | Operating Right-of-Use Assets |
|  | July 31, 2025 |  |  | January 31, 2025 |  |  | July 31, 2024 |
United States |  | $ | 56,697 |  |  | $ | 61,916 |  |  | $ | 61,351 |
International |  |  | 20,433 |  |  |  | 24,093 |  |  |  | 23,999 |
Consolidated total |  | $ | 77,130 |  |  | $ | 86,009 |  |  | $ | 85,350 |
|  | Property, Plant and Equipment, Net |
|  | July 31, 2025 |  |  | January 31, 2025 |  |  | July 31, 2024 |
United States |  | $ | 12,899 |  |  | $ | 13,244 |  |  | $ | 13,089 |
International |  |  | 6,297 |  |  |  | 6,676 |  |  |  | 7,226 |
Consolidated total |  | $ | 19,196 |  |  | $ | 19,920 |  |  | $ | 20,315 |

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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