v3.22.2.2
SEGMENT INFORMATION
 9 Months Ended
Oct. 01, 2022
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company reports segment information based on the “management approach.” The management approach designates the internal reporting used by management for making decisions and assessing performance as the source of the Company’s reportable segments.
The Company manages its business primarily on a geographic basis. The Company’s reportable operating segments are comprised of (i) Americas, (ii) Europe and (iii) Asia. Each reportable operating segment includes sales to wholesale and distributor customers, and sales through Company-owned retail stores and e-commerce activities based on the location of the selling entity. The Americas segment primarily includes sales to customers based in Canada, Latin America and the United States. The Europe segment primarily includes sales to customers based in European countries, the Middle East and Africa. The
Asia segment primarily includes sales to customers based in Australia, China (including Hong Kong, Macau and Taiwan), India, Indonesia, Japan, Malaysia, New Zealand, Singapore, South Korea and Thailand. Each reportable operating segment provides similar products and services.
The Company evaluates the performance of its reportable segments based on net sales and operating income (loss). Net sales for geographic segments are based on the location of the selling entity. Operating income (loss) for each segment includes net sales to third parties, related cost of sales and operating expenses directly attributable to the segment. Corporate includes peripheral revenue generating activities from factories and intellectual property and general corporate expenses, including certain administrative, legal, accounting, technology support costs, equity compensation costs, payroll costs attributable to executive management, brand management, product development, art, creative/product design, marketing, strategy, compliance and back office supply chain expenses that are not allocated to the various segments because they are managed at the corporate level internally. The Company does not include intercompany transfers between segments for management reporting purposes.
Summary information by operating segment was as follows (in thousands):
For the 13 Weeks Ended October 1, 2022For the 13 Weeks Ended October 2, 2021
 Net SalesOperating Income (Loss)Net SalesOperating Income (Loss)
Americas$184,326 $33,403 $193,762 $46,589 
Europe143,679 31,076 165,887 40,549 
Asia100,212 17,515 129,494 23,996 
Corporate8,054 (59,512)2,684 (63,328)
Consolidated$436,271 $22,482 $491,827 $47,806 
For the 39 Weeks Ended October 1, 2022For the 39 Weeks Ended October 2, 2021
 Net SalesOperating Income (Loss)Net SalesOperating Income (Loss)
Americas$514,525 $87,966 $522,983 $109,172 
Europe376,110 65,489 399,519 67,616 
Asia279,563 38,807 331,625 50,553 
Corporate13,094 (194,999)11,681 (181,942)
Consolidated$1,183,292 $(2,737)$1,265,808 $45,399 
Due to changes in the Company’s product types as discussed in Note 1 to the Condensed Consolidated Financial Statements, product results for the Prior Year Quarter and Prior Year YTD Period have been recast to present results on a comparable basis. The following table reflects net sales for each class of similar products in the periods presented (in thousands, except percentage data):
For the 13 Weeks Ended October 1, 2022For the 13 Weeks Ended October 2, 2021
 Net SalesPercentage of TotalNet SalesPercentage of Total
Watches:
    Traditional watches $310,198 71.1 %$345,764 70.3 %
    Smartwatches33,306 7.6 54,085 11.0 
Total watches$343,504 78.7 %$399,849 81.3 %
Leathers41,095 9.4 36,390 7.4 
Jewelry37,868 8.7 46,325 9.4 
Other13,804 3.2 9,263 1.9 
Total$436,271 100.0 %$491,827 100.0 %

For the 39 Weeks Ended October 1, 2022For the 39 Weeks Ended October 2, 2021
 Net SalesPercentage of TotalNet SalesPercentage of Total
Watches:
    Traditional watches$830,322 70.2 %$878,809 69.4 %
    Smartwatches104,709 8.8 150,086 11.9 
Total watches$935,031 79.0 %$1,028,895 81.3 %
Leathers111,226 9.4 103,841 8.2 
Jewelry106,495 9.0 105,040 8.3 
Other30,540 2.6 28,032 2.2 
Total$1,183,292 100.0 %$1,265,808 100.0 %