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SEGMENT INFORMATION
 6 Months Ended
Jul. 02, 2022
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 July 2, 2022For the 13 Weeks Ended July 3, 2021
 Net SalesOperating Income (Loss)Net SalesOperating Income (Loss)
Americas$168,272 $30,653 $176,715 $36,553 
Europe107,891 14,846 124,397 22,040 
Asia92,582 12,351 103,492 14,834 
Corporate2,423 (68,786)6,335 (59,080)
Consolidated$371,168 $(10,936)$410,939 $14,347 
For the 26 Weeks Ended July 2, 2022For the 26 Weeks Ended July 3, 2021
 Net SalesOperating Income (Loss)Net SalesOperating Income (Loss)
Americas$330,199 $54,563 $329,220 $62,582 
Europe232,442 34,414 233,632 27,067 
Asia179,350 21,291 202,132 26,557 
Corporate5,030 (135,487)8,997 (118,614)
Consolidated$747,021 $(25,219)$773,981 $(2,408)
Due to changes in the Company’s product types as discussed in Note 1 to the Condensed Consolidated Financial Statements, product results for the Prior Year Quarter and Prior Year YTD Period have been recast to present results on a comparable basis. The following table reflects net sales for each class of similar products in the periods presented (in thousands, except percentage data):
For the 13 Weeks Ended July 2, 2022For the 13 Weeks Ended July 3, 2021
 Net SalesPercentage of TotalNet SalesPercentage of Total
Watches:
    Traditional watches $258,696 69.7 %$290,616 70.8 %
    Smartwatches33,421 9.0 43,082 10.5 
Total watches$292,117 78.7 %$333,698 81.3 %
Leathers35,947 9.7 33,347 8.1 
Jewelry33,930 9.1 32,577 7.9 
Other9,174 2.5 11,317 2.7 
Total$371,168 100.0 %$410,939 100.0 %

For the 26 Weeks Ended July 2, 2022For the 26 Weeks Ended July 3, 2021
 Net SalesPercentage of TotalNet SalesPercentage of Total
Watches:
    Traditional watches$520,122 69.6 %$533,047 68.9 %
    Smartwatches71,406 9.6 96,000 12.4 
Total watches$591,528 79.2 %$629,047 81.3 %
Leathers70,132 9.4 67,451 8.7 
Jewelry68,626 9.2 58,714 7.6 
Other16,735 2.2 18,769 2.4 
Total$747,021 100.0 %$773,981 100.0 %