v3.26.1
SEGMENT INFORMATION
 3 Months Ended
Apr. 04, 2026
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, specifically its chief operating decision maker ("CODM") for making decisions and assessing performance as the source of the Company's reportable segments. The Company's CODM is its Chief Executive Officer.
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, greater China (including mainland China, 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.
The CODM uses net sales and operating income (loss) for each segment predominantly in the annual budget and forecasting process. The CODM considers budget-to-actual variances on a quarterly basis for both performance measures when making decisions about the allocation of operating and capital resources to each segment. The CODM also uses segment gross profit for evaluating pricing strategy and segment operating income (loss) to assess the performance of each segment by comparing the results of each segment with one another. The CODM does not review disaggregated assets by segment, therefore it is not presented below.
Summary information by operating segment was as follows (in thousands):
For the 13 Weeks Ended April 4, 2026
AmericasEuropeAsiaCorporateTotal
Net sales$96,774 $71,507 $56,023 $457 $224,761 
Cost of sales38,426 26,353 22,802 2,477 90,058 
   Gross profit$58,348 $45,154 $33,221 $(2,020)$134,703 
Marketing4,476 4,675 3,653 1,600 14,404 
Compensation and benefits13,780 15,559 6,981 21,483 57,803 
Depreciation and amortization513 559 360 978 2,410 
Other segment items (1)
11,796 8,274 6,626 21,341 48,037 
   Operating income (loss)$27,783 $16,087 $15,601 $(47,422)$12,049 

For the 14 Weeks Ended April 5, 2025
AmericasEuropeAsiaCorporateTotal
Net sales$97,729 $77,333 $57,345 $886 $233,293 
Cost of sales41,019 29,202 19,909 171 90,301 
   Gross profit$56,710 $48,131 $37,436 $715 $142,992 
Marketing4,046 3,750 4,042 1,408 13,246 
Compensation and benefits15,552 17,875 8,724 31,541 73,692 
Depreciation and amortization729 817 615 1,207 3,368 
Other segment items (1)
12,153 8,935 8,797 29,548 59,433 
   Operating income (loss)$24,230 $16,754 $15,258 $(62,989)$(6,747)
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(1) Other segment items for each reportable segment include long-lived asset impairments, restructuring charges, facility costs, overhead expenses, fixed asset disposal and other operating costs.
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 April 4, 2026For the 14 Weeks Ended April 5, 2025
 Net SalesPercentage of TotalNet SalesPercentage of Total
Watches:
    Traditional watches $188,732 84.0 %$184,631 79.1 %
    Smartwatches1,730 0.8 4,046 1.7 
Total watches$190,462 84.8 %$188,677 80.8 %
Leathers10,641 4.7 17,180 7.4 
Jewelry20,140 9.0 22,260 9.5 
Other3,518 1.5 5,176 2.3 
Total$224,761 100.0 %$233,293 100.0 %