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SEGMENT INFORMATION (Tables) | 6 Months Ended
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Jul. 04, 2020
Segment Reporting [Abstract] |
Summary information by operating segment | Summary information by operating segment was as follows (in thousands):
| For the 13 Weeks Ended July 4, 2020 |  | For the 13 Weeks Ended June 29, 2019
| Net Sales |  | Operating Income (Loss) |  | Net Sales |  | Operating Income (Loss)
Americas | $ | 105,749 |  |  | $ | 4,781 |  |  | $ | 223,107 |  |  | $ | 29,540 |
Europe | 79,545 |  |  | (10,498 | ) |  | 147,082 |  |  | 12,463 |
Asia | 69,248 |  |  | 6,624 |  |  | 126,275 |  |  | 26,959 |
Corporate | 4,467 |  |  | (37,712 | ) |  | 4,929 |  |  | (67,281 | )
Consolidated | $ | 259,009 |  |  | $ | (36,805 | ) |  | $ | 501,393 |  |  | $ | 1,681 |
| For the 27 Weeks Ended July 4, 2020 |  | For the 26 Weeks Ended June 29, 2019
| Net Sales |  | Operating Income (Loss)(1) |  | Net Sales |  | Operating Income (Loss)
Americas | $ | 258,666 |  |  | $ | (32,353 | ) |  | $ | 413,476 |  |  | $ | 40,458 |
Europe | 207,795 |  |  | (13,154 | ) |  | 300,360 |  |  | 26,743 |
Asia | 175,435 |  |  | 17,864 |  |  | 243,174 |  |  | 48,000 |
Corporate | 7,831 |  |  | (143,503 | ) |  | 9,651 |  |  | (133,464 | )
Consolidated | $ | 649,727 |  |  | $ | (171,146 | ) |  | $ | 966,661 |  |  | $ | (18,263 | )
___________________________________________________________________________________________________________________ (1)Subsequent to the issuance of the Company's condensed consolidated financial statements for the 14 weeks ended April 4, 2020, the Company's management determined that Operating Loss for the Americas and Corporate segments for the 14 weeks ended April 4, 2020 was incorrectly presented as certain charges totaling $24.5 million were incorrectly attributed to the Americas segment rather than the Corporate segment. As a result, Operating Loss for the Americas and Corporate segments for the 27 week period ended July 4, 2020 has been corrected. The Company’s management evaluated the materiality of the disclosure misstatement from a quantitative and qualitative perspective and concluded the misstatement was not material to the 14 weeks ended April 4, 2020.
Schedule of net sales for each class of similar products | 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 July 4, 2020 |  | For the 13 Weeks Ended June 29, 2019
| Net Sales |  | Percentage of Total |  | Net Sales |  | Percentage of Total
Watches | $ | 209,499 |  |  | 80.9 | % |  | $ | 413,285 |  |  | 82.4 | %
Leathers | 26,554 |  |  | 10.3 |  |  | 52,630 |  |  | 10.5 |
Jewelry | 15,206 |  |  | 5.9 |  |  | 20,786 |  |  | 4.2 |
Other | 7,750 |  |  | 2.9 |  |  | 14,692 |  |  | 2.9 |
Total | $ | 259,009 |  |  | 100.0 | % |  | $ | 501,393 |  |  | 100.0 | %
| For the 27 Weeks Ended July 4, 2020 |  | For the 26 Weeks Ended June 29, 2019
| Net Sales |  | Percentage of Total |  | Net Sales |  | Percentage of Total
Watches | $ | 519,425 |  |  | 79.9 | % |  | $ | 779,463 |  |  | 80.6 | %
Leathers | 73,861 |  |  | 11.4 |  |  | 106,534 |  |  | 11.0 |
Jewelry | 38,422 |  |  | 5.9 |  |  | 51,946 |  |  | 5.4 |
Other | 18,019 |  |  | 2.8 |  |  | 28,718 |  |  | 3.0 |
Total | $ | 649,727 |  |  | 100.0 | % |  | $ | 966,661 |  |  | 100.0 | %

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- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e9031-108599 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
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