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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Jan. 31, 2016
Jan. 31, 2015
Jan. 31, 2014
Income Statement [Abstract]      
Net sales [1],[2] $ 594,923 $ 586,980 $ 570,255
Cost of sales 277,993 276,998 264,994
Gross profit 316,930 309,982 305,261
Selling, general and administrative 246,823 238,495 237,519
Operating income [3],[4],[5],[6],[7],[8] 70,107 71,487 67,742
Other income, net (Note 17)     1,526
Interest expense (1,109) (489) (436)
Interest income 127 166 86
Income before income taxes 69,125 71,164 68,918
Provision for income taxes (Note 8) 23,360 19,264 17,373
Net income 45,765 51,900 51,545
Less: Net income attributed to noncontrolling interests 671 124 668
Net income attributed to Movado Group, Inc. $ 45,094 $ 51,776 $ 50,877
Basic income per share:      
Weighted basic average shares outstanding 23,525 25,276 25,506
Net income per share attributed to Movado Group, Inc. $ 1.92 $ 2.05 $ 1.99
Diluted income per share:      
Weighted diluted average shares outstanding 23,774 25,581 25,849
Net income per share attributed to Movado Group, Inc. $ 1.90 $ 2.02 $ 1.97
Dividends paid per share $ 0.44 $ 0.40 $ 0.26
[1] Fiscal 2014 Wholesale and United States net sales included a $7.8 million sales reserve, for anticipated returns resulting from the Company’s decision to reduce the presence of ESQ Movado while expanding the Movado brand offering in certain retail doors.
[2] The United States and International net sales are net of intercompany sales of $309.1 million, $305.1 million and $338.6 million for the fiscal years ended January 31, 2016, 2015 and 2014, respectively.
[3] Fiscal 2014 Wholesale and United States operating income included $2.5 million duty refund received relating to payments made by the Company in calendar years 2008 through 2011 for drawback claims filed with U.S. Customs & Border Protection.
[4] Fiscal 2014 Wholesale and United States operating income included a $2.0 million donation to the Movado Group Foundation.
[5] Fiscal 2014 Wholesale and United States operating income included a charge of $8.3 million related to its strategy to reduce the presence of ESQ Movado while expanding the Movado brand offering in certain retail doors. The $8.3 million charge consists of anticipated sales returns from select customers, inventory reserves and writes down of excess displays and point of sale materials related to this strategy.
[6] Fiscal 2016 Wholesale and United States and International operating income included a $4.0 million charge as a result of actions taken by the Company in fiscal 2016 to achieve greater operating efficiencies and streamline its operations.
[7] The International operating income included $44.5 million, $47.1 million and $44.2 million of certain intercompany profits related to the Company’s supply chain operations for the fiscal years ended January 31, 2016, 2015 and 2014, respectively.
[8] The United States operating income included $27.0 million, $19.3 million and $26.5 million of unallocated corporate expenses for the fiscal years ended January 31, 2016, 2015 and 2014, respectively.