XML 27 R15.htm IDEA: XBRL DOCUMENT v3.20.2
SEGMENT INFORMATION
 9 Months Ended
Oct. 03, 2020
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 (including Hong Kong, Macau and Taiwan), 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 October 3, 2020For the 13 Weeks Ended September 28, 2019
 Net SalesOperating Income (Loss)Net SalesOperating Income (Loss)
Americas$175,086 $45,034 $220,034 $18,928 
Europe135,292 10,702 173,868 26,396 
Asia119,748 25,285 143,249 32,721 
Corporate5,366 (63,510)2,337 (87,198)
Consolidated$435,492 $17,511 $539,488 $(9,153)
For the 40 Weeks Ended October 3, 2020For the 39 Weeks Ended September 28, 2019
 Net Sales
Operating Income (Loss)(1)
Net SalesOperating Income (Loss)
Americas$433,751 $12,681 $633,510 $59,385 
Europe343,087 (2,451)474,227 53,139 
Asia295,183 43,149 386,424 80,722 
Corporate13,197 (207,014)11,988 (220,662)
Consolidated$1,085,218 $(153,635)$1,506,149 $(27,416)

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 October 3, 2020For the 13 Weeks Ended September 28, 2019
 Net SalesPercentage of TotalNet SalesPercentage of Total
Watches$356,564 81.9 %$445,490 82.6 %
Leathers37,716 8.7 54,489 10.1 
Jewelry28,883 6.6 28,184 5.2 
Other12,329 2.8 11,325 2.1 
Total$435,492 100.0 %$539,488 100.0 %

For the 40 Weeks Ended October 3, 2020For the 39 Weeks Ended September 28, 2019
 Net SalesPercentage of TotalNet SalesPercentage of Total
Watches$875,989 80.7 %$1,224,953 81.3 %
Leathers111,577 10.3 161,023 10.7 
Jewelry67,305 6.2 80,131 5.3 
Other30,347 2.8 40,042 2.7 
Total$1,085,218 100.0 %$1,506,149 100.0 %