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REVENUE (Tables) | 6 Months Ended
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Jun. 30, 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 sheets as of June 30, 2018 and the Company's condensed consolidated statements of income (loss) and comprehensive income (loss) for the Second Quarter and Year To Date Period (in thousands):
| June 30, 2018
| As Reported |  | Without Adoption of ASU 2014-09 |  | Impact of Adoption of ASU 2014-09
Assets |  |  |  |  |
Accounts receivable | $ | 204,651 |  |  | $ | 184,394 |  |  | $ | 20,257 |
Inventories | 497,814 |  |  | 514,571 |  |  | (16,757 | )
Prepaid expenses and other current assets | 125,000 |  |  | 103,448 |  |  | 21,552 |
Liabilities |  |  |  |  |
Customer liabilities | $ | 56,066 |  |  | $ | 16,146 |  |  | $ | 39,920 |
| For the 13 Weeks Ended June 30, 2018
| As Reported |  | Without Adoption of ASU 2014-09 |  | Impact of Adoption of ASU 2014-09
Net sales | $ | 576,583 |  |  | $ | 568,165 |  |  | $ | 8,418 |
Cost of sales | 267,574 |  |  | 272,369 |  |  | (4,795 | )
| For the 26 Weeks Ended June 30, 2018
| As Reported |  | Without Adoption of ASU 2014-09 |  | Impact of Adoption of ASU 2014-09
Net sales | $ | 1,145,739 |  |  | $ | 1,136,156 |  |  | $ | 9,583 |
Cost of sales | 549,038 |  |  | 548,922 |  |  | 116 |
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) | (56,073 | )
Markdowns adjustment, net of taxes | (27,325 | )
Sales adjustment, net of taxes | 783 |
Balance at June 30, 2018 | $ | 327,038 |
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 June 30, 2018
| Americas |  | Europe |  | Asia |  | Total
Product type |  |  |  |  |  |  |
Watches | $ | 221,637 |  |  | $ | 136,760 |  |  | $ | 104,593 |  |  | $ | 462,990 |
Leathers | 42,757 |  |  | 12,915 |  |  | 12,248 |  |  | 67,920 |
Jewelry | 10,454 |  |  | 21,151 |  |  | 1,499 |  |  | 33,104 |
Other | 4,415 |  |  | 5,214 |  |  | 2,940 |  |  | 12,569 |
Consolidated | $ | 279,263 |  |  | $ | 176,040 |  |  | $ | 121,280 |  |  | $ | 576,583 |
Timing of revenue recognition |  |  |  |  |  |  |
Revenue recognized at a point in time | $ | 278,726 |  |  | $ | 175,792 |  |  | $ | 121,160 |  |  | $ | 575,678 |
Revenue recognized over time | 537 |  |  | 248 |  |  | 120 |  |  | 905 |
Consolidated | $ | 279,263 |  |  | $ | 176,040 |  |  | $ | 121,280 |  |  | $ | 576,583 |
| For the 26 Weeks Ended June 30, 2018
| Americas |  | Europe |  | Asia |  | Total
Product type |  |  |  |  |  |  |
Watches | $ | 417,314 |  |  | $ | 287,555 |  |  | $ | 205,736 |  |  | $ | 910,605 |
Leathers | 81,087 |  |  | 30,953 |  |  | 25,139 |  |  | 137,179 |
Jewelry | 22,477 |  |  | 49,658 |  |  | 2,774 |  |  | 74,909 |
Other | 7,454 |  |  | 9,989 |  |  | 5,603 |  |  | 23,046 |
Consolidated | $ | 528,332 |  |  | $ | 378,155 |  |  | $ | 239,252 |  |  | $ | 1,145,739 |
Timing of revenue recognition |  |  |  |  |  |  |
Revenue recognized at a point in time | $ | 527,339 |  |  | $ | 377,683 |  |  | $ | 239,028 |  |  | $ | 1,144,050 |
Revenue recognized over time | 993 |  |  | 472 |  |  | 224 |  |  | 1,689 |
Consolidated | $ | 528,332 |  |  | $ | 378,155 |  |  | $ | 239,252 |  |  | $ | 1,145,739 |

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