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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Jan. 31, 2018
Jan. 31, 2017
Jan. 31, 2016
Income Statement [Abstract]      
Net sales [1] $ 567,953 $ 552,752 $ 594,923
Cost of sales 269,875 257,935 277,993
Gross profit 298,078 294,817 316,930
Selling, general, and administrative 254,878 240,836 246,823
Operating income [2],[3],[4],[5],[6],[7] 43,200 53,981 70,107
Other expense (Note 6)   (1,282)  
Interest expense (1,510) (1,464) (1,109)
Interest income 452 219 127
Income before income taxes 42,142 51,454 69,125
Provision for income taxes (Note 7) 57,367 16,315 23,360
Net (loss) / income (15,225) 35,139 45,765
Less: Net income attributed to noncontrolling interests   78 671
Net (loss) / income attributed to Movado Group, Inc. $ (15,225) $ 35,061 $ 45,094
Basic income per share:      
Weighted basic average shares outstanding 23,073 23,070 23,525
Net (loss) / income per share attributed to Movado Group, Inc. $ (0.66) $ 1.52 $ 1.92
Diluted income per share:      
Weighted diluted average shares outstanding 23,073 23,267 23,774
Net (loss) / income per share attributed to Movado Group, Inc. $ (0.66) $ 1.51 $ 1.90
Dividends paid per share $ 0.52 $ 0.52 $ 0.44
[1] The United States and International net sales are net of intercompany sales of $268.1 million, $289.2 million and $309.1 million for the fiscal years ended January 31, 2018, 2017 and 2016, respectively.
[2] 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.
[3] Fiscal 2017 Wholesale and United States operating income included a pre-tax charge of $1.8 million, as a result of the immediate vesting of stock awards and certain other compensation related to the announcement of the retirement of the Company’s former Vice Chairman and Chief Operating Officer, in fiscal 2017.
[4] Fiscal 2018 Wholesale and United States and International operating (loss) / income included a charge of $13.6 million as part of the Company’s cost savings initiatives. In fiscal 2018, the Company took actions to better align its global infrastructure with the current business environment by consolidating certain operations and streamlining functions to reduce costs and improve profitability. Also, in light of the changing retail landscape and the growing importance of digital marketing and online sales, the Company decided to cease its participation in the Baselworld Watch and Jewelry Show.
[5] Fiscal 2018 Wholesale and United States and International operating (loss) / income included a charge of $6.8 million related to transaction charges and the amortization of acquisition accounting adjustments associated with the purchase of the Olivia Burton brand.
[6] The International operating income included $41.5 million, $40.0 million and $44.5 million of certain intercompany profits related to the Company’s supply chain operations for the fiscal years ended January 31, 2018, 2017 and 2016, respectively.
[7] The United States operating income included $25.2 million, $26.3 million and $27.0 million of unallocated corporate expenses for the fiscal years ended January 31, 2018, 2017 and 2016, respectively.