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SEGMENT INFORMATION (Tables)

6 Months Ended

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	%

X

- 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.

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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.

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