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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jul. 31, 2017
Jul. 31, 2016
Jul. 31, 2017
Jul. 31, 2016
Income Statement [Abstract]        
Net sales $ 128,781 $ 128,086 $ 228,046 $ 242,149
Cost of sales 62,655 57,823 112,783 110,569
Gross profit 66,126 70,263 115,263 131,580
Selling, general, and administrative 57,809 60,172 110,594 116,111
Operating income [1],[2] 8,317 10,091 4,669 15,469
Interest expense (390) (331) (746) (706)
Interest income 129 36 251 93
Income before income taxes 8,056 9,796 4,174 14,856
Provision for income taxes (Note 10) 2,574 3,441 2,851 5,164
Net income 5,482 6,355 1,323 9,692
Less: Net income attributed to noncontrolling interests   49   78
Net income attributed to Movado Group, Inc. $ 5,482 $ 6,306 $ 1,323 $ 9,614
Basic income per share:        
Weighted basic average shares outstanding 23,085,000 23,092,000 23,080,000 23,083,000
Net income per share attributed to Movado Group, Inc. $ 0.24 $ 0.27 $ 0.06 $ 0.42
Diluted income per share:        
Weighted diluted average shares outstanding 23,218,000 23,192,000 23,253,000 23,237,000
Net income per share attributed to Movado Group, Inc. $ 0.24 $ 0.27 $ 0.06 $ 0.41
Dividends declared per share $ 0.13 $ 0.13 $ 0.26 $ 0.26
[1] In the International location of the Wholesale segment, for the three months ended July 31, 2017, operating income included a pre-tax charge of $0.1 million, as a result of the Company’s cost savings initiatives. In the United States and International locations of the Wholesale segment, for the six months ended July 31, 2017, operating (loss) / income included a pre-tax charge of $3.8 million and $2.6 million, respectively, as a result of the Company’s cost savings initiatives.
[2] In the United States and International locations of the Wholesale segment, for both the three and the six months ended July 31, 2017, operating income / (loss) included $0.2 million and $4.3 million, respectively, of expenses primarily related to transaction costs and adjustments in acquisition accounting, as a result of the Company’s acquisition of the Olivia Burton brand.