Valuation and Qualifying Accounts

12 Months Ended

Jan. 31, 2025

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Valuation and Qualifying Accounts

Schedule II

MOVADO GROUP, INC.

VALUATION AND QUALIFYING ACCOUNTS

(In thousands)

Description	Balance at beginning of year		Net provision/(benefit) charged to operations			Currency revaluation			Net write-offs				Balance at end of year
Year ended January 31, 2025:
Allowance for expected credit losses	$	3,266	$	261		$	(78	)	$	(358	)		$	3,091
Returns		12,773		33,457			(456	)		(28,705	)			17,069
Other sales allowances		6,875		25,150			(185	)		(25,899	)			5,941
Deferred tax asset valuation allowance		3,298		636			(91	)		(164	)			3,679
Total	$	26,212	$	59,504		$	(810	)	$	(55,126	)		$	29,780
Year ended January 31, 2024:
Allowance for expected credit losses	$	4,977	$	1,375		$	173		$	(3,259	)	(1)	$	3,266
Returns		13,087		30,515			216			(31,045	)			12,773
Other sales allowances (Restated) (2)		8,494		19,470			104			(21,193	)			6,875
Deferred tax asset valuation allowance		4,041		372			(185	)		(930	)			3,298
Total	$	30,599	$	51,732		$	308		$	(56,427	)		$	26,212
Year ended January 31, 2023:
Allowance for expected credit losses	$	5,831	$	1,000		$	(8	)	$	(1,846	)		$	4,977
Returns		13,715		30,418			(59	)		(30,987	)			13,087
Other sales allowances		9,105		15,258			(76	)		(15,793	)			8,494
Deferred tax asset valuation allowance		7,021		(2,193	)		(328	)		(459	)			4,041
Total	$	35,672	$	44,483		$	(471	)	$	(49,085	)		$	30,599

(1) Activity in fiscal year 2024 includes approximately $2.5 million of write-offs associated with a fully reserved non-current asset that occurred in fiscal year 2022.

(2) The provision charged to operations and the net write-offs related to other sales allowances for fiscal year 2024 have been restated to reflect the under reporting of credit

notes of $3.0 million related to the restatement described in Note 1A-Restatement of Previously Issued Consolidated Financial Statements.