XML 66 R15.htm IDEA: XBRL DOCUMENT v3.19.3

SEGMENT INFORMATION

9 Months Ended

Sep. 28, 2019

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

The Company reports segment information based on the “management approach”. The management approach designates the internal reporting used by management for making decisions and assessing performance as the source of the Company’s reportable segments.

The Company manages its business primarily on a geographic basis. The Company’s reportable operating segments are comprised of (i) Americas, (ii) Europe and (iii) Asia. Each reportable operating segment includes sales to wholesale and distributor customers, and sales through Company-owned retail stores and e-commerce activities based on the location of the selling entity. The Americas segment primarily includes sales to customers based in Canada, Latin America and the United States. The Europe segment primarily includes sales to customers based in European countries, the Middle East and Africa. The Asia segment primarily includes sales to customers based in Australia, China, India, Indonesia, Japan, Malaysia, New Zealand, Singapore, South Korea and Thailand. Each reportable operating segment provides similar products and services.

The Company evaluates the performance of its reportable segments based on net sales and operating income (loss). Net sales for geographic segments are based on the location of the selling entity. Operating income (loss) for each segment includes net sales to third parties, related cost of sales and operating expenses directly attributable to the segment. Corporate includes peripheral revenue generating activities from factories and intellectual property and general corporate expenses, including certain administrative, legal, accounting, technology support costs, equity compensation costs, payroll costs attributable to executive management, brand management, product development, art, creative/product design, marketing, strategy, compliance and back office supply chain expenses that are not allocated to the various segments because they are managed at the corporate level internally. The Company does not include intercompany transfers between segments for management reporting purposes.

Summary information by operating segment was as follows (in thousands):

	For the 13 Weeks Ended September 28, 2019								For the 13 Weeks Ended September 29, 2018
	Net Sales				Operating Income (Loss)				Net Sales				Operating Income (Loss)
Americas	$	220,034			$	18,928			$	269,063			$	36,060
Europe	173,868				26,396				207,039				33,886
Asia	143,249				32,721				131,506				31,352
Corporate	2,337				(87,198		)		1,219				(78,645		)
Consolidated	$	539,488			$	(9,153	)		$	608,827			$	22,653

	For the 39 Weeks Ended September 28, 2019								For the 39 Weeks Ended September 29, 2018
	Net Sales				Operating Income (Loss)				Net Sales				Operating Income (Loss)
Americas	$	633,510			$	59,385			$	797,022			$	102,924
Europe	474,227				53,139				584,636				76,088
Asia	386,424				80,722				370,278				64,770
Corporate	11,988				(220,662		)		2,630				(248,397		)
Consolidated	$	1,506,149			$	(27,416	)		$	1,754,566			$	(4,615	)

	September 28, 2019								December 29, 2018
	Long-Term Assets				Total Assets				Long-Term Assets				Total Assets
Americas	$	174,986			$	549,451			$	61,914			$	393,273
Europe	169,003				406,817				99,253				353,797
Asia	78,296				292,283				29,990				173,666
Corporate	126,642				392,092				125,472				654,462
Total	$	548,927			$	1,640,643			$	316,629			$	1,575,198

The following tables reflect net sales for each class of similar products in the periods presented (in thousands, except percentage data):

	For the 13 Weeks Ended September 28, 2019							For the 13 Weeks Ended September 29, 2018
	Net Sales				Percentage of Total			Net Sales				Percentage of Total
Watches	$	445,490			82.6	%		$	486,538			79.9	%
Leathers	54,489				10.1			66,036				10.8
Jewelry	28,184				5.2			41,800				6.9
Other	11,325				2.1			14,453				2.4
Total	$	539,488			100.0	%		$	608,827			100.0	%

	For the 39 Weeks Ended September 28, 2019							For the 39 Weeks Ended September 29, 2018
	Net Sales				Percentage of Total			Net Sales				Percentage of Total
Watches	$	1,224,953			81.3	%		$	1,397,143			79.6	%
Leathers	161,023				10.7			203,215				11.6
Jewelry	80,131				5.3			116,709				6.7
Other	40,042				2.7			37,499				2.1
Total	$	1,506,149			100.0	%		$	1,754,566			100.0	%

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Name:	us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration