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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Jan. 31, 2025
Oct. 31, 2024
Jul. 31, 2024
Apr. 30, 2024
Jan. 31, 2024
Oct. 31, 2023
Jul. 31, 2023
Apr. 30, 2023
Jul. 31, 2024
Jul. 31, 2023
Oct. 31, 2024
Oct. 31, 2023
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Income Statement [Abstract]                              
Net sales $ 181,475 $ 180,524 $ 157,000 $ 134,379 $ 175,753 $ 184,072 $ 158,020 $ 146,544 $ 291,379 $ 304,564 $ 471,903 $ 488,636 $ 653,378 [1],[2],[3] $ 664,389 [1],[2] $ 744,209 [1],[2]
Cost of sales   83,894 71,748 61,459 81,659 84,270 70,490 63,811 133,207 134,301 217,101 218,571 300,238 [2],[3] 300,230 [2] 315,081 [2]
Gross profit 98,338 96,630 85,252 72,920 94,094 99,802 87,530 82,733 158,172 170,263 254,802 270,065 353,140 [2],[3] 364,159 [2] 429,128 [2]
Selling, general and administrative   90,597 82,610 70,802 83,311 81,636 79,638 71,104 153,412 150,742 244,009 232,378 333,125 [2],[3] 315,689 [2] 313,541 [2]
Operating income 9,222 6,033 2,642 2,118 10,783 18,166 7,892 11,629 4,760 19,521 10,793 37,687 20,015 [2],[3] 48,470 [2] 115,587 [2]
Non-operating income/(expense):                              
Other income, net   1,522 1,877 2,172 1,800 1,632 1,537 1,025 4,049 2,562 5,571 4,194 7,125 [2],[3] 5,994 [2] 2,069 [2]
Interest expense   (144) (110) (118) (136) (135) (113) (113) (228) (226) (372) (361) (489) [2],[3] (497) [2] (518) [2]
Income before income taxes   7,411 4,409 4,172 12,447 19,663 9,316 12,541 8,581 21,857 15,992 41,520 26,651 [2],[3] 53,967 [2] 117,138 [2]
Provision for income taxes (Note 13)   2,365 843 2,033 2,348 4,166 2,640 2,638 2,876 5,278 5,241 9,444 7,442 11,792 24,260
Net income 8,458 5,046 3,566 2,139 10,099 15,497 6,676 9,903 5,705 16,579 10,751 32,076 19,209 42,175 92,878
Less: Net income attributable to noncontrolling interest   219 97 124 262 281 138 149 221 287 440 568 845 830 2,495
Net income attributable to Movado Group, Inc. $ 8,053 $ 4,827 $ 3,469 $ 2,015 $ 9,837 $ 15,216 $ 6,538 $ 9,754 $ 5,484 $ 16,292 $ 10,311 $ 31,508 $ 18,364 $ 41,345 $ 90,383
Basic income per share:                              
Weighted basic average shares outstanding   22,283 22,303 22,253 22,218 22,209 22,231 22,226 22,278 22,229 22,280 22,222 22,268 22,221 22,504
Net income per share attributable to Movado Group, Inc. $ 0.36 $ 0.22 $ 0.16 $ 0.09 $ 0.44 $ 0.69 $ 0.29 $ 0.44 $ 0.25 $ 0.73 $ 0.46 $ 1.42 $ 0.82 $ 1.86 $ 4.02
Diluted income per share:                              
Weighted diluted average shares outstanding   22,559 22,658 22,673 22,708 22,677 22,616 22,672 22,665 22,642 22,627 22,641 22,603 22,641 22,955
Net income per share attributable to Movado Group, Inc. $ 0.36 $ 0.21 $ 0.15 $ 0.09 $ 0.43 $ 0.67 $ 0.29 $ 0.43 $ 0.24 $ 0.72 $ 0.46 $ 1.39 $ 0.81 $ 1.83 $ 3.94
[1] The United States and International net sales in the Watch and Accessory Brands segment are net of intercompany sales of $287.6 million, $260.1 million and $350.5 million for the fiscal years ended January 31, 2025, 2024 and 2023, respectively.
[2] The operating income in the Watch and Accessory Brands segment included $30.0 million, $30.8 million and $37.0 million of unallocated corporate expenses for the fiscal years ended January 31, 2025, 2024 and 2023, respectively, and $67.0 million, $71.5 million and $81.0 million of certain intercompany profits related to the Company's supply chain operations for the fiscal years ended January 31, 2025, 2024 and 2023, respectively.
[3] The operating income in the Watch and Accessory Brands segment included a pre-tax charge of $4.6 million related to the Company's cost-savings initiative for the fiscal year ended January 31, 2025 and a pre-tax charge of $2.5 million of professional fees related to the investigation of allegations of misconduct within the Dubai branch of the Company's Swiss subsidiary.