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REVENUE (Tables)

3 Months Ended

Mar. 31, 2018

Revenue from Contract with Customer [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The following tables summarize the impact of adopting ASU 2014-09 on the Company's condensed consolidated balance sheet as of March 31, 2018 and the Company's condensed consolidated statements of income (loss) and comprehensive income (loss) for the 13 weeks ended March 31, 2018 (in thousands):

	March 31, 2018
	As Reported				Without Adoption of ASU 2014-09			Impact of Adoption of ASU 2014-09
Assets
Accounts receivable	$	234,164			201,456			32,708
Inventories	530,706				562,620			(31,914	)
Prepaid expenses and other current assets	161,691				134,688			27,003
Liabilities
Customer liabilities	$	67,718			14,311			53,407

	For the 13 Weeks Ended March 31, 2018
	As Reported				Without Adoption of ASU 2014-09			Impact of Adoption of ASU 2014-09
Net sales	$	569,156			567,991			1,165
Cost of sales	281,465				276,554			4,911

Retained earnings adjustments. The following table presents the changes in the retained earnings balance including the cumulative effect of adopting ASU 2014-09, net of taxes (in thousands):

	Retained Earnings
Balance at December 30, 2017	$	409,653
Net income (loss)	(48,273		)
Markdowns adjustment, net of taxes	(27,325		)
Sales adjustment, net of taxes	783
Balance at March 31, 2018	$	334,838

Disaggregation of Revenue

The Company's revenue disaggregated by major product category and timing of revenue recognition was as follows (in thousands):

	For the 13 Weeks Ended March 31, 2018
	Americas				Europe				Asia				Total
Product type
Watches	$	195,677			$	150,795			$	101,143			$	447,615
Leathers	38,330				18,038				12,891				69,259
Jewelry	12,024				28,507				1,275				41,806
Other	3,038				4,775				2,663				10,476
Consolidated	$	249,069			$	202,115			$	117,972			$	569,156
Timing of revenue recognition
Revenue recognized at a point in time	$	248,612			$	201,891			$	117,869			$	568,372
Revenue recognized over time	457				224				103				784
Consolidated	$	249,069			$	202,115			$	117,972			$	569,156

X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=82913847&loc=SL49130545-203045

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- Definition

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22580-107794

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e765-108305

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22499-107794

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.10-01.(b)(6))
-URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22583-107794

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e725-108305

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