Segment and Geographic Information (Tables)

12 Months Ended

Jan. 31, 2023

Operating Segment Data as of and for the Fiscal Year Ended January 31, (in thousands):


	Net Sales
	2023		2022		2021
Watch and Accessory Brands:
Owned brands category	$	230,277	$	249,940	$	178,173
Licensed brands category		399,556		368,354		262,367
After-sales service and all other		10,506		7,929		6,822
Total Watch and Accessory Brands		640,339		626,223		447,362
Company Stores		111,559		106,170		59,035
Consolidated total	$	751,898	$	732,393	$	506,397


	Operating Income/(Loss) (1) (2) (3) (4)
	2023		2022		2021
Watch and Accessory Brands	$	95,037	$	85,619	$	(152,662	)
Company Stores		25,317		31,872		10,535
Consolidated total	$	120,354	$	117,491	$	(142,127	)


	Total Assets				Capital Expenditure
	2023		2022			2023		2022		2021
Watch and Accessory Brands	$	722,267	$	701,986		$	4,323	$	2,956	$	2,909
Company Stores		65,438		59,174			2,762		2,700		109
Consolidated total	$	787,705	$	761,160		$	7,085	$	5,656	$	3,018


	Depreciation and Amortization
	2023		2022		2021
Watch and Accessory Brands	$	8,233	$	9,810	$	11,462
Company Stores		2,576		2,653		2,650
Consolidated total	$	10,809	$	12,463	$	14,112

Geographic Segment Data

Geographic Location Data as of and for the Fiscal Year Ended January 31, (in thousands):


	Net Sales (5)						Operating Income/(Loss) (1) (2) (3) (4) (6) (7)
	2023		2022		2021		2023		2022		2021
United States	$	333,913	$	346,092	$	214,818	$	21,178	$	40,476	$	(128,430	)
International		417,985		386,301		291,579		99,176		77,015		(13,697	)
Consolidated total	$	751,898	$	732,393	$	506,397	$	120,354	$	117,491	$	(142,127	)


	Total Assets				Property, Plant and Equipment, Net
	2023		2022		2023		2022
United States	$	425,209	$	352,806	$	13,422	$	13,246
International		362,496		408,354		5,277		6,224
Consolidated total	$	787,705	$	761,160	$	18,699	$	19,470

(1)

Fiscal 2021 operating loss in the United States locations of the Watch and Accessory Brands segment included a charge of $99.7 million related to the impairment of goodwill and intangible assets associated with the MVMT brand. Fiscal 2021 operating loss in the International locations of the Watch and Accessory Brands segment included a charge of $56.2 million related to the impairment of goodwill associated with the Olivia Burton brand and City Time Joint Venture.

(2)

Fiscal 2022 operating income in the United States locations and the International locations of the Watch and Accessory Brands segment included income of $0.1 million and $1.0 million, respectively, related to a reversal in certain corporate initiatives charges due to a change in estimate that the Company established in fiscal 2021 in response to the impact on its business due to the COVID-19 pandemic primarily due to a collection of a previously reserved receivable. Fiscal 2021 operating loss in the United States locations and the International locations of the Watch and Accessory Brands segment included a charge of $8.0 million and $4.6 million, respectively, related to the corporate initiatives that the Company established in response to the impact on its business due to the COVID-19 pandemic.

(3)

Fiscal 2023, 2022 and 2021 operating income/(loss) in the United States locations of the Watch and Accessory Brands segment included $0.3 million, $0.4 million and $1.6 million, respectively, of expenses primarily related to the amortization of intangible assets, deferred compensation and certain accounting adjustments associated with the MVMT brand.

(4)

Fiscal 2023, 2022 and 2021 operating (loss)/income in the International locations of the Watch and Accessory Brands segment included $2.6 million, $2.9 million and $2.7 million, respectively, of expenses primarily related to the amortization of acquired intangible assets, as a result of the Company’s acquisition of the Olivia Burton brand.

(5)

The United States and International net sales are net of intercompany sales of $350.5 million, $358.9 million and $236.9 million for the fiscal years ended January 31, 2023, 2022 and 2021, respectively.

(6)

The United States operating income/(loss) included $37.0 million, $38.7 million and $29.1 million of unallocated corporate expenses for the fiscal years ended January 31, 2023, 2022 and 2021, respectively.

(7)

The International operating income/(loss) included $81.0 million, $80.5 million and $63.0 million of certain intercompany profits related to the Company’s supply chain operations for the fiscal years ended January 31, 2023, 2022 and 2021, respectively.