Movado (MOV) 10-Q 30 Nov 23 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Oct. 31, 2023	Nov. 27, 2023
Document Type	10-Q
Amendment Flag	false
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Document Period End Date	Oct. 31, 2023
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Trading Symbol	MOV
Entity Registrant Name	MOVADO GROUP, INC.
Entity Central Index Key	0000072573
Current Fiscal Year End Date	--01-31
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	1-16497
Entity Tax Identification Number	13-2595932
Entity Address, Address Line One	650 From Road
Entity Address, Address Line Two	Ste. 375
Entity Address, City or Town	Paramus
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07652-3556
City Area Code	201
Local Phone Number	267-8000
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	NY
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, par value $0.01 per share
Security Exchange Name	NYSE
Common Stock Class Undefined
Entity Common Stock, Shares Outstanding		15,596,895
Class A Common Stock
Entity Common Stock, Shares Outstanding		6,483,116

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Oct. 31, 2023	Jan. 31, 2023	Oct. 31, 2022
Current assets:
Cash and cash equivalents	$ 200,965	$ 251,584	$ 186,665
Trade receivables, net	135,523	94,282	135,566
Inventories	171,966	186,203	215,006
Other current assets	18,856	24,212	18,664
Income taxes receivable	11,135	10,908	7,978
Total current assets	538,445	567,189	563,879
Property, plant and equipment, net	19,458	18,699	18,207
Operating lease right-of-use assets	84,212	80,897	74,918
Deferred and non-current income taxes	44,814	44,490	44,288
Other intangibles, net	7,688	9,642	9,818
Other non-current assets	68,780	66,788	64,570
Total assets	763,397	787,705	775,680
Current liabilities:
Accounts payable	22,998	32,085	40,884
Accrued liabilities	57,165	46,720	66,894
Accrued payroll and benefits	10,317	17,343	15,581
Current operating lease liabilities	15,885	17,681	16,779
Income taxes payable	20,024	28,591	25,457
Total current liabilities	126,389	142,420	165,595
Deferred and non-current income taxes payable	7,966	15,163	15,639
Non-current operating lease liabilities	76,929	70,910	65,164
Other non-current liabilities	49,195	48,668	45,735
Total liabilities	260,479	277,161	292,133
Commitments and contingencies (Note 8)
Redeemable noncontrolling interest	0	0	2,433
Equity:
Preferred Stock, $0.01 par value, 5,000,000 shares authorized; no shares issued	0	0	0
Capital in excess of par value	236,438	230,782	227,997
Retained earnings	465,919	476,752	461,789
Accumulated other comprehensive income	81,727	81,295	66,196
Treasury Stock, 13,282,860, 13,194,339 and 13,090,839 shares, respectively, at cost	(283,998)	(281,576)	(278,313)
Total Movado Group, Inc. shareholders' equity	500,439	507,606	478,021
Noncontrolling interest	2,479	2,938	3,093
Total equity	502,918	510,544	481,114
Total liabilities, redeemable noncontrolling interest and equity	763,397	787,705	775,680
Common Stock Class Undefined
Equity:
Common Stock	289	288	287
Class A Common Stock
Equity:
Common Stock	$ 64	$ 65	$ 65

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (PARENTHETICAL) - $ / shares	Oct. 31, 2023	Jan. 31, 2023	Oct. 31, 2022
Preferred Stock, par value	$ 0.01	$ 0.01	$ 0.01
Preferred Stock, shares authorized	5,000,000	5,000,000	5,000,000
Preferred Stock, shares issued	0	0	0
Treasury Stock, Shares	13,282,860	13,194,339	13,090,839
Common Stock Class Undefined
Common Stock, par value	$ 0.01	$ 0.01	$ 0.01
Common Stock, shares authorized	100,000,000	100,000,000	100,000,000
Common Stock, shares issued	28,879,497	28,806,511	28,783,101
Common Stock, shares outstanding	28,879,497	28,806,511	28,783,101
Class A Common Stock
Common Stock, par value	$ 0.01	$ 0.01	$ 0.01
Common Stock, shares authorized	30,000,000	30,000,000	30,000,000
Common Stock, shares issued	6,483,116	6,524,805	6,524,805
Common Stock, shares outstanding	6,483,116	6,524,805	6,524,805

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2023	Oct. 31, 2022
Income Statement [Abstract]
Net sales		$ 187,686	$ 211,397	$ 492,981	$ 557,625
Cost of sales		85,358	90,370	219,364	232,986
Gross profit		102,328	121,027	273,617	324,639
Selling, general and administrative		81,636	82,756	232,378	230,417
Operating income	[1]	20,692	38,271	41,239	94,222
Non-operating income/(expense):
Other income, net		1,632	422	4,194	704
Interest expense		(135)	(143)	(361)	(356)
Income before income taxes		22,189	38,550	45,072	94,570
Provision for income taxes (Note 9)		4,519	8,439	9,938	20,868
Net income		17,670	30,111	35,134	73,702
Less: Net income attributable to noncontrolling interests		281	825	568	1,900
Net income attributable to Movado Group, Inc.		$ 17,389	$ 29,286	$ 34,566	$ 71,802
Basic income per share:
Weighted basic average shares outstanding		22,209	22,379	22,222	22,590
Net income per share attributable to Movado Group, Inc.		$ 0.78	$ 1.31	$ 1.56	$ 3.18
Diluted income per share:
Weighted diluted average shares outstanding		22,677	22,794	22,641	23,044
Net income per share attributable to Movado Group, Inc.		$ 0.77	$ 1.28	$ 1.53	$ 3.12
[1] For both the three months ended October 31, 2023 and 2022, and for both the nine months ended October 31, 2023 and 2022, in the United States locations of the Watch and Accessory Brands segment, operating (loss)/income included a charge of $ 0.1 million and $ 0.2 million, respectively, related to the amortization of intangible assets and deferred compensation associated with the MVMT brand. In addition, in the International locations of the Watch and Accessory Brands segment for the three months ended October 31, 2023 and 2022, and for the nine months ended October 31, 2023 and 2022, operating income included a charge of $ 0.3 million, $ 0.6 million, $ 1.5 million and $ 1.9 million, respectively, related to the amortization of acquired intangible assets as a result of the Company’s acquisition of the Olivia Burton brand.

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2023	Oct. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 17,670	$ 30,111	$ 35,134	$ 73,702
Other comprehensive (loss)/income:
Net unrealized (loss)/gain on investments, net of tax (benefit)/provision of ($3), $8, ($13) and $3, respectively	(9)	23	(38)	9
Amortization of prior service cost, net of tax provision of $4, $3, $12 and $11, respectively	15	13	45	41
Foreign currency translation adjustments	(10,066)	(8,339)	256	(18,870)
Accumulated other comprehensive income/(loss) before reclassification, net of tax provision/(benefit) of $56, ($17), $51 and $376, respectively	284	(87)	260	1,902
Amounts reclassified from accumulated other comprehensive (loss)/income, net of tax (benefit) of ($61), ($225), ($18) and ($431), respectively	(307)	(1,138)	(91)	(2,181)
Total other comprehensive (loss)/income, net of taxes	(10,083)	(9,528)	432	(19,099)
Comprehensive income/(loss) attributable to noncontrolling interests:
Net income	281	825	568	1,900
Foreign currency translation adjustments	(136)	(319)	(247)	(652)
Total comprehensive income attributable to noncontrolling interests	145	506	321	1,248
Total comprehensive income attributable to Movado Group, Inc.	$ 7,442	$ 20,077	$ 35,245	$ 53,355

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) (PARENTHETICAL) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2023	Oct. 31, 2022
Statement of Comprehensive Income [Abstract]
Net unrealized (loss)/gain on investments, tax (benefit)/provision	$ (3)	$ 8	$ (13)	$ 3
Amortization of prior service cost, tax provision	4	3	12	11
Accumulated other comprehensive income/(loss) before reclassification, net of tax provision	56	(17)	51	376
Amounts reclassified from accumulated other comprehensive income/(loss), net of tax benefit	$ (61)	$ (225)	$ (18)	$ (431)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Cash flows from operating activities:
Net income	$ 35,134	$ 73,702
Adjustments to reconcile net income to net cash provided by/(used in) operating activities:
Depreciation and amortization	7,278	8,218
Transactional losses/(gains)	204	(180)
Provision for inventories and accounts receivable	3,803	4,150
Deferred income taxes	(2,032)	(993)
Stock-based compensation	5,529	4,246
Other	754	190
Changes in assets and liabilities:
Trade receivables	(42,027)	(49,967)
Inventories	10,758	(66,150)
Other current assets	4,107	(2,712)
Accounts payable	(7,492)	(3,470)
Accrued liabilities	12,336	19,582
Accrued payroll and benefits	(7,039)	(9,190)
Income taxes receivable	(4,494)	9,494
Income taxes payable	(10,014)	(6,444)
Other non-current assets	1,293	(4,599)
Other non-current liabilities	(730)	474
Net cash provided by/(used in) operating activities	7,368	(23,649)
Cash flows from investing activities:
Capital expenditures	(6,627)	(4,703)
Long-term investments	(2,040)	(2,716)
Trademarks and other intangibles	(113)	(175)
Net cash used in investing activities	(8,780)	(7,594)
Cash flows from financing activities:
Dividends paid	(45,399)	(23,600)
Stock repurchase	(2,349)	(28,150)
Distribution of noncontrolling interest earnings	(780)	0
Stock awards and options exercised and other changes	(73)	(80)
Other	0	(85)
Net cash used in financing activities	(48,601)	(51,915)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(377)	(7,349)
Net decrease in cash, cash equivalents and restricted cash	(50,390)	(90,507)
Cash, cash equivalents, and restricted cash at beginning of year	252,179	277,716
Cash, cash equivalents, and restricted cash at end of period	201,789	187,209
Reconciliation of cash, cash equivalents, and restricted cash:
Cash and cash equivalents	200,965	186,665
Restricted cash included in other non-current assets	824	544
Cash, cash equivalents, and restricted cash at end of period	$ 201,789	$ 187,209

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2023	Oct. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 17,389	$ 29,286	$ 34,566	$ 71,802

Insider Trading Arrangements

Insider Trading Arrangements	9 Months Ended
	Oct. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation

Basis of Presentation	9 Months Ended
	Oct. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	NOTE 1 – BASIS OF PRESENTATION The accompanying interim unaudited Consolidated Financial Statements have been prepared by Movado Group, Inc. (the “Company”), in a manner consistent with that used in the preparation of the annual audited Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2023 (the “2023 Annual Report on Form 10-K”). The unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America, which require the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the dates of the unaudited Consolidated Financial Statements and the reported amounts of revenues and expenses during the periods reported. Actual results could differ from those estimates. In the opinion of management, the accompanying unaudited Consolidated Financial Statements reflect all adjustments, consisting of only normal and recurring adjustments, necessary for a fair statement of the financial position and results of operations for the periods presented. The consolidated balance sheet data at January 31, 2023 is derived from the audited annual financial statements, which are included in the Company’s 2023 Annual Report on Form 10-K and should be read in connection with these interim unaudited financial statements. Operating results for the interim periods presented are not necessarily indicative of the results that may be expected for the full year.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Oct. 31, 2023
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	NOTE 2 – RECENT ACCOUNTING PRONOUNCEMENTS The Company has reviewed all recently issued accounting pronouncements and concluded that they were either not applicable or not expected to have a material impact on the Consolidated Financial Statements or related disclosures.

Earnings Per Share and Cash Div

Earnings Per Share and Cash Dividends	9 Months Ended
	Oct. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share and Cash Dividends	NOTE 3 – EARNINGS PER SHARE AND CASH DIVIDENDS The Company presents net income attributable to Movado Group, Inc. after adjusting for noncontrolling interests, as applicable, per share on a basic and diluted basis. Basic earnings per share is computed using weighted-average shares outstanding during the period. Diluted earnings per share is computed using the weighted-average number of shares outstanding adjusted for dilutive common stock equivalents. The number of shares used in calculating basic and diluted earnings per share is as follows (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2023 2022 2023 2022 Weighted average common shares outstanding: Basic 22,209 22,379 22,222 22,590 Effect of dilutive securities: Stock awards and options to purchase shares of 468 415 419 454 Diluted 22,677 22,794 22,641 23,044 For the three months ended October 31, 2023 and 2022, approximately 497,000 a nd 433,000 , respectively, of potentially dilutive common stock equivalents were excluded from the computation of diluted earnings per share because their effect would have been antidilutive. For the nine months ended October 31, 2023 and 2022, approximately 671,000 and 270,000 , respectively, of potentially dilutive common stock equivalents were excluded from the computation of diluted earnings per share because their effect would have been antidilutive. On August 24, 2023, the Company declared a quarterly cash dividend of $ 0.35 per share payable on September 21, 2023, to shareholders of record on September 7, 2023 . The total dividend of $ 7.8 million was paid on September 21, 2023 . On May 25, 2023, the Company declared a quarterly cash dividend of $ 0.35 per share payable on June 21, 2023, to shareholders of record on June 7, 2023 . The total dividend of $ 7.7 million was paid on June 21, 2023 . On March 23, 2023, the Company declared a special cash dividend of $ 1.00 per share, as well as a quarterly cash dividend of $ 0.35 per share, both payable on April 19, 2023, to shareholders of record on April 5, 2023 . The total dividends of $ 29.9 million were paid on April 19, 2023 . The Company paid cash dividends of $ 0.35 per share, or $ 7.9 million, $ 7.9 million and $ 7.8 million, during the three months ended April 30, 2022, July 31, 2022 and October 31, 2022, respectively.

Inventories

Inventories	9 Months Ended
	Oct. 31, 2023
Inventory Disclosure [Abstract]
Inventories	NOTE 4 – INVENTORIES Inventories consisted of the following (in thousands): October 31, January 31, October 31, Finished goods $ 141,109 $ 154,700 $ 182,093 Component parts 27,217 28,805 30,192 Work-in-process 3,640 2,698 2,721 $ 171,966 $ 186,203 $ 215,006

Debt and Lines of Credit

Debt and Lines of Credit	9 Months Ended
	Oct. 31, 2023
Debt Disclosure [Abstract]
Debt and Lines of Credit	NOTE 5 – DEBT AND LINES OF CREDIT On October 12, 2018, the Company, together with Movado Group Delaware Holdings Corporation, Movado Retail Group, Inc. and Movado LLC (together with the Company, the “U.S. Borrowers”), each a wholly owned domestic subsidiary of the Company, and Movado Watch Company S.A. and MGI Luxury Group S.A., each a wholly owned Swiss subsidiary of the Company, entered into an Amended and Restated Credit Agreement (as subsequently amended, the “Credit Agreement”) with the lenders party thereto and Bank of America, N.A. as administrative agent (in such capacity, the “Agent”). As a result of the merger of Movado Watch Company S.A. into MGI Luxury Group S.A. in July 2022, MGI Luxury Group S.A. (subsequently renamed MGI Luxury Group GmbH as a result of the conversion of its corporate form) became the sole Swiss subsidiary of the Company party to the Credit Agreement (in such capacity, the "Swiss Borrower" and, together with the U.S. Borrowers, the "Borrowers"). The Credit Agreement provides for a $ 100.0 million senior secured revolving credit facility (the “Facility”) and has a maturity date of October 28, 2026 . The Facility includes a $ 15.0 million letter of credit subfacility, a $ 25.0 million swingline subfacility and a $ 75.0 million sublimit for borrowings by the Swiss Borrower, with provisions for uncommitted increases to the Facility of up to $ 50.0 million in the aggregate subject to customary terms and conditions. The Credit Agreement contains affirmative and negative covenants binding on the Company and its subsidiaries that are customary for credit facilities of this type, including, but not limited to, restrictions and limitations on the incurrence of debt and liens, dispositions of assets, capital expenditures, dividends and other payments in respect of equity interests, the making of loans and equity investments, mergers, consolidations, liquidations and dissolutions, and transactions with affiliates (in each case, subject to various exceptions). The borrowings under the Facility are joint and several obligations of the Borrowers and are also cross-guaranteed by each Borrower, except that the Swiss Borrower is not liable for, nor does it guarantee, the obligations of the U.S. Borrowers. In addition, the Borrowers' obligations under the Facility are secured by first priority liens, subject to permitted liens, on substantially all of the U.S. Borrowers' assets other than certain excluded assets. The Swiss Borrower does not provide collateral to secure the obligations under the Facility. As of both October 31, 2023, and October 31, 2022, there were no amounts of loans outstanding under the Facility. Availability under the Facility was reduced by the aggregate number of letters of credit outstanding, issued in connection with retail and operating facility leases to various landlords and for Canadian payroll to the Royal Bank of Canada, totaling approximately $ 0.3 million at both October 31, 2023 and October 31, 2022. At October 31, 2023, the letters of credit have expiration dates throug h May 31, 2024 . As of both October 31, 2023, and October 31, 2022, availability under the Facility was $ 99.7 million. The Company had weighted average borrowings under the Facility of zero during both the three and nine months ended October 31, 2023 and 2022, respectively. A Swiss subsidiary of the Company maintains unsecured lines of credit with a Swiss bank that are subject to repayment upon demand. As of October 31, 2023, and 2022, these lines of credit totaled 6.5 million Swiss Francs for both periods, with a dollar equivalent of $ 7.1 million and $ 6.5 million, respectively. As of October 31, 2023, and 2022, there were no borrowings against these lines. As of October 31, 2023 and 2022, two European banks had guaranteed obligations to third parties on behalf of two of the Company’s foreign subsidiaries in the dollar equivalent of $ 1.5 million and $ 1.1 million, respectively, in various foreign currencies, of which $ 0.8 million ($ 0.1 million was refunded in November) and $ 0.5 million, respectively, was a restricted deposit as it relates to lease agreements. Cash paid for interest, including unused commitments fees, was $ 0.2 million for both the nine-month periods ended October 31, 2023 and October 31, 2022.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Oct. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	NOTE 6 – DERIVATIVE FINANCIAL INSTRUMENTS The Company addresses certain financial exposures that include the use of derivative financial instruments. The Company enters into foreign currency forward contracts to reduce the effects of fluctuating foreign currency exchange rates. As of October 31, 2023, the Company's net forward contracts hedging portfolio designated as qualified cash flow hedging instruments consisted of 3.0 million Euros equivalent with an expiry date of November 10, 2023 . The net gain or loss on the derivatives is reported as a component of accumulated other comprehensive income/(loss) and reclassified into earnings in the same period during which the hedged transaction affects earnings using the same revenue or expense category that the hedged item impacted. The Company also enters into foreign currency forward contracts not designated as qualified hedges in accordance with ASC 815, Derivatives and Hedging . As of October 31, 2023, the Company’s net forward contracts hedging portfolio not designated as qualified hedges consisted of 20.7 million Chinese Yuan equivalent, 28.0 million Swiss Francs equivalent, 24.7 million U.S. dollars eq uivalent, 24.6 million Euros equivalent and 5.8 million British Pounds equivalent with various expiry dates ranging through April 4, 2024 . Changes in the fair value of these derivatives are recognized in earnings in the period they arise. Net gains or losses related to these forward contracts are included in cost of sales, selling and general and administrative expenses in the Consolidated Statements of Operations. The cash flows related to these foreign currency contracts are classified in operating activities. The following table presents the fair values of the Company's derivative financial instruments included in the Consolidated Balance Sheets as of October 31, 2023, January 31, 2023 and October 31, 2022 (in thousands): Asset Derivatives Liability Derivatives Balance October 31, January 31, October 31, Balance October 31, January 31, October 31, Derivatives designated as hedging instruments: Foreign Exchange Contracts Other Current $ — $ — $ 90 Accrued $ 5 $ 192 $ 48 Total Derivative Instruments $ — $ — $ 90 $ 5 $ 192 $ 48 Asset Derivatives Liability Derivatives Balance October 31, January 31, October 31, Balance October 31, January 31, October 31, Derivatives not designated as hedging instruments: Foreign Exchange Contracts Other Current $ — $ 1,146 $ 31 Accrued $ 650 $ — $ 981 Total Derivative Instruments $ — $ 1,146 $ 31 $ 650 $ — $ 981 As of October 31, 2023, January 31, 2023 and October 31, 2022, the balance of net deferred gains on derivative financial instruments designated as cash flow hedges included in accumulated other comprehensive (loss) were ( $ 2,000 ) , ($ 0.2 ) million and ($ 0.1 ) million, respectively. For the three months ended October 31, 2023, and October 31, 2022, the Company reclassified $ 0.3 million and $ 1.1 million, respectively, from accumulated other comprehensive income t o Net sales in the Consolidated Statements of Operations. For the nine months ended October 31, 2023, and October 31, 2022, the Company reclassified $ 0.1 million and $ 2.2 million, respectively, from accumulated other comprehensive income to Net sales in the Consolidated Statements of Operations. No ineffectiveness has been recorded for the three and nine months ended October 31, 2023. See Note 7 - Fair Value Measurements for fair value and presentation in the Consolidated Balance Sheets for derivatives.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Oct. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Fair Value Measurements	NOTE 7 – FAIR VALUE MEASUREMENTS Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Accounting guidance establishes a fair value hierarchy which prioritizes the inputs used in measuring fair value into three broad levels as follows: • Level 1 – Quoted prices in active markets for identical assets or liabilities. • Level 2 – Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly. • Level 3 – Unobservable inputs based on the Company’s assumptions. The guidance requires the use of observable market data if such data is available without undue cost and effort. The following tables present the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of October 31, 2023 and 2022 and January 31, 2023 (in thousands): Fair Value at October 31, 2023 Balance Sheet Location Level 1 Level 2 Level 3 Total Assets: Available-for-sale securities Other current assets $ 213 $ — $ — $ 213 Short-term investment Other current assets 150 — — 150 SERP assets - employer Other non-current assets 591 — — 591 SERP assets - employee Other non-current assets 45,534 — — 45,534 Defined benefit plan assets Other non-current liabilities — — 29,712 29,712 Hedge derivatives Other current assets — — — — Total $ 46,488 $ — $ 29,712 $ 76,200 Liabilities: SERP liabilities - employee Other non-current liabilities $ 45,534 $ — $ — $ 45,534 Hedge derivatives Accrued liabilities — 655 — 655 Total $ 45,534 $ 655 $ — $ 46,189 Fair Value at January 31, 2023 Balance Sheet Location Level 1 Level 2 Level 3 Total Assets: Available-for-sale securities Other current assets $ 263 $ — $ — $ 263 Short-term investment Other current assets 156 — — 156 SERP assets - employer Other non-current assets 738 — — 738 SERP assets - employee Other non-current assets 44,442 — — 44,442 Defined benefit plan assets Other non-current liabilities — — 27,965 27,965 Hedge derivatives Other current assets — 1,146 — 1,146 Total $ 45,599 $ 1,146 $ 27,965 $ 74,710 Liabilities: SERP liabilities - employee Other non-current liabilities $ 44,442 $ — $ — $ 44,442 Hedge derivatives Accrued liabilities — 192 — 192 Total $ 44,442 $ 192 $ — $ 44,634 Fair Value at October 31, 2022 Balance Sheet Location Level 1 Level 2 Level 3 Total Assets: Available-for-sale securities Other current assets $ 262 $ — $ — $ 262 Short-term investment Other current assets 153 — — 153 SERP assets - employer Other non-current assets 928 — — 928 SERP assets - employee Other non-current assets 42,886 — — 42,886 Defined benefit plan assets Other non-current assets — — 24,847 24,847 Hedge derivatives Other current assets — 121 — 121 Total $ 44,229 $ 121 $ 24,847 $ 69,197 Liabilities: SERP liabilities - employee Other non-current liabilities $ 42,886 $ — $ — $ 42,886 Hedge derivatives Accrued liabilities $ - $ 1,029 $ — $ 1,029 Total $ 42,886 $ 1,029 $ — $ 43,915 The fair values of the Company’s available-for-sale securities are based on quoted market prices. The fair value of the short-term investment, which is a guaranteed investment certificate, is based on its purchase price plus one half of a percent calculated annually. The assets related to the Company’s defined contribution supplemental executive retirement plan (“SERP”) consist of both employer (employee unvested) and employee assets which are invested in investment funds with fair values calculated based on quoted market prices. The SERP liability represents the Company’s liability to the employees in the plan for their vested balances. The hedge derivatives consist of cash flow hedging instruments and forward contracts (see Note 6 for further discussion) and are entered into by the Company principally to reduce its exposure to Swiss Franc and Euro exchange rate risks. Fair values of the Company’s hedge derivatives are calculated based on quoted foreign exchange rates and quoted interest rates. The Company sponsors a defined benefit pension plan in Switzerland. The plan covers certain international employees and is based on years of service and compensation on a career-average pay basis. The assets within the plan are classified as a Level 3 asset within the fair value hierarchy and consist of an investment in pooled assets and include separate employee accounts that are invested in equity securities, debt securities and real estate. The values of the separate accounts invested are based on values provided by the administrator of the funds that cannot be readily derived from or corroborated by observable market data. The value of the assets is part of the defined benefit plan and included in other non-current liabilities at October 31, 2023 and January 31, 2023 and other non-current assets in the consolidated balance sheets at October 31, 2022. There were no transfers between any levels of the fair value hierarchy for any of the Company’s fair value measurements. Investments Without Readily Determinable Fair Values From time to time the Company may make minority investments in growth companies in the consumer products sector and other sectors relevant to its business, including certain of the Company's suppliers and customers, as well as in venture capital funds that invest in companies in media, entertainment, information technology and technology-related fields and in digital assets. Through fiscal 2023, the Company invested approximately $ 5.3 million and during the first nine months of fiscal 2024, the Company invested an additional $ 2.0 m illion in venture capital funds. The Company has evaluated and will regularly evaluate the carrying value of its investments. One consumer products company in which the Company made an equity investment in fiscal year 2022 sold its business and assets in the first quarter of fiscal 2024 in a transaction that is expected to yield little or no return for equity holders. As a result, the Company has fully impaired its $ 0.5 million investment in this entity in the first quarter of fiscal 2024 and is recorded in Other income, net in the Consolidated Statements of Operations. The carrying value of the investments are recorded in Other non-current assets in the Consolidated Balance Sheets at October 31, 2023, January 31, 2023 and October 31, 2022.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Oct. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 8 – COMMITMENTS AND CONTINGENCIES The Company has minimum commitments related to the Company’s license agreements and endorsement agreements with brand ambassadors, and also includes service agreements. The Company sources, distributes, advertises and sells watches and jewelry pursuant to its exclusive license agreements with unaffiliated licensors. Royalty amounts under the license agreements are generally based on a stipulated percentage of revenues, although most of these agreements contain provisions for the payment of minimum annual royalty amounts. The license agreements have various terms, and some have renewal options, provided that minimum sales levels are achieved. Additionally, the license agreements require the Company to pay minimum annual advertising amounts. The Company believes that income tax reserves are adequate; however, amounts asserted by taxing authorities could be greater or less than amounts accrued and reflected in the consolidated balance sheet. Accordingly, the Company could record adjustments to the amounts for federal, state, and foreign liabilities in the future as the Company revises estimates or settles or otherwise resolves the underlying matters. In the ordinary course of business, the Company may take new positions that could increase or decrease unrecognized tax benefits in future periods. In December 2016, U.S. Customs and Border Protection (“U.S. Customs”) issued an audit report concerning the methodology used by the Company to allocate the cost of certain watch styles imported into the U.S. among the component parts of those watches for tariff purposes. The report disputed the reasonableness of the Company’s historical allocation formulas and proposed an alternative methodology that would imply $ 5.1 million in underpaid duties for all imports that entered the United States during the audit period which extended from August 1, 2011 through July 15, 2016, plus possible penalties and interest. Although the Company believes that U.S. Customs’ alternative duty methodology and estimate are not consistent with the Company’s facts and circumstances and has consistently disputed U.S. Customs’ position, the Company established reserves for a portion of the alleged underpayment indicated in the audit report. Between February 2017 and January 2021, the Company made numerous submissions to U.S. Customs containing supplemental analyses and information in response to U.S. Customs’ information requests. On May 1, 2023, the statute of limitations lapsed with respect to all entries encompassed by the audit period. As a result, during the second quarter of fiscal 2024, the Company released the reserves that it had established in respect of those entries. The Company is involved in legal proceedings and claims from time to time, in the ordinary course of its business. Legal reserves are recorded in accordance with the accounting guidance for contingencies. Contingencies are inherently unpredictable and it is possible that results of operations, balance sheets or cash flows could be materially and adversely affected in any particular period by unfavorable developments in, or resolution or disposition of, such matters. For those legal proceedings and claims for which the Company believes that it is probable that a reasonably estimable loss may result, the Company records a reserve for the potential loss. For proceedings and claims where the Company believes it is reasonably possible that a loss may result that is materially in excess of amounts accrued for the matter, the Company either discloses an estimate of such possible loss or range of loss or includes a statement that such an estimate cannot be made. As of October 31, 2023, the Company is party to legal proceedings and contingencies, the resolution of which is not expected to materially affect its financial condition, future results of operations beyond the amounts accrued, or cash flows.

Income Taxes

Income Taxes	9 Months Ended
	Oct. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 9 – INCOME TAXES The Company recorded an income tax provision of $ 4.5 million and $ 8.4 million for the three months ended October 31, 2023 and 2022, respectively. The effective tax rate was 20.4 % and 21.9 % for the three months ended October 31, 2023 and 2022, respectively. The significant components of the effective tax rate changed primarily due to changes in jurisdictional earnings and return to provision adjustments recorded in the prior year. The Company recorded an income tax provision of $ 9.9 million and $ 20.9 million for the nine months ended October 31, 2023 and 2022, respectively. The effective tax rate was 22.0 % and 22.1 % for the nine months ended October 31, 2023 and 2022, respective ly. The significant components of the effective tax rate changed primarily due to the release of certain foreign valuation allowances in the prior year and a limitation on a portion of the foreign tax credits and deductions related to the tax on GILTI, partially offset by return to provision adjustments recorded in the prior year. At October 31, 2023, the Company had no deferred tax liability for substantially all of the undistributed foreign earnings of approximately $ 286.6 million because the Company intends to permanently reinvest such earnings in its foreign operations. It is not practicable to estimate the tax liability related to a future distribution of these permanently reinvested foreign earnings.

Equity

Equity	9 Months Ended
	Oct. 31, 2023
Equity [Abstract]
Equity	NOTE 10 – EQUITY The components of equity for the three and nine months ended October 31, 2023 and 2022 are as follows (in thousands): Movado Group, Inc. Shareholders' Equity for the three months ended October 31, 2023 and 2022 Preferred Common Stock (1) Common Stock Class A (2) Class A Amount Capital in of Value Retained Accumulated Treasury Noncontrolling Total Redeemable Balance, July 31, 2023 $ — 28,876 $ 289 6,483 $ 64 $ 234,443 $ 456,279 $ 91,810 $ ( 282,101 ) $ 3,114 $ 503,898 $ - Net income attributable to Movado Group, Inc. 17,389 281 17,670 Dividends ($ 0.35 per share) ( 7,749 ) ( 7,749 ) Distribution of noncontrolling interest earnings ( 780 ) ( 780 ) Stock awards and options exercised 3 19 19 Stock repurchases ( 1,916 ) ( 1,916 ) Supplemental executive retirement plan 45 45 Stock-based compensation expense 1,950 1,950 Net unrealized loss on investments, net 3 ) ( 9 ) ( 9 ) Net change in effective portion of hedging contracts, net of tax benefit of ($ 5 ) ( 23 ) ( 23 ) Amortization of prior service cost, net of tax provision of $ 4 15 15 Foreign currency translation ( 10,066 ) ( 136 ) ( 10,202 ) Balance, October 31, 2023 $ — 28,879 $ 289 6,483 $ 64 $ 236,438 $ 465,919 $ 81,727 $ ( 283,998 ) $ 2,479 $ 502,918 $ - Preferred Common Stock (1) Common Stock Class A (2) Class A Amount Capital in of Value Retained Accumulated Treasury Noncontrolling Interest Total Redeemable Balance, July 31, 2022 $ — 28,771 $ 287 6,525 $ 65 $ 226,156 $ 440,306 $ 75,724 $ ( 271,702 ) $ 2,715 $ 473,551 $ 2,305 Net income attributable to Movado Group, Inc. 29,286 608 29,894 217 Dividends ($ 0.35 per share) ( 7,803 ) ( 7,803 ) Stock awards and options exercised 12 325 325 Stock repurchases ( 6,611 ) ( 6,611 ) Supplemental executive retirement plan 31 31 Stock-based compensation expense 1,485 1,485 Net unrealized gain on investments, net 8 23 23 Net change in effective portion of hedging contracts, net of tax benefit of ($ 242 ) ( 1,225 ) ( 1,225 ) Amortization of prior service cost, net of tax provision of $ 3 13 13 Foreign currency translation ( 8,339 ) ( 230 ) ( 8,569 ) ( 89 ) Balance, October 31, 2022 $ — 28,783 $ 287 6,525 $ 65 $ 227,997 $ 461,789 $ 66,196 $ ( 278,313 ) $ 3,093 $ 481,114 $ 2,433 Movado Group, Inc. Shareholders' Equity for the nine months ended October 31, 2023 and 2022 Preferred Common Stock (1) Common Stock Class A (2) Class A Amount Capital in of Value Retained Accumulated Treasury Noncontrolling Total Redeemable Balance, January 31, 2023 $ — 28,807 $ 288 6,525 $ 65 $ 230,782 $ 476,752 $ 81,295 $ ( 281,576 ) $ 2,938 $ 510,544 $ - Net income attributable to Movado Group, Inc. 34,566 568 35,134 Dividends ($ 2.05 per share) ( 45,399 ) ( 45,399 ) Distribution of noncontrolling interest earnings ( 780 ) ( 780 ) Stock awards and options exercised 30 ( 73 ) ( 73 ) Stock repurchases ( 2,349 ) ( 2,349 ) Conversion of Class A Common Stock to Common Stock 42 1 ( 42 ) ( 1 ) - Supplemental executive retirement plan 127 127 Stock-based compensation expense 5,529 5,529 Net unrealized loss on investments, net 13 ) ( 38 ) ( 38 ) Net change in effective portion of hedging contracts, net of tax provision of $ 33 169 169 Amortization of prior service cost, net of tax provision of $ 12 45 45 Foreign currency translation 256 ( 247 ) 9 Balance, October 31, 2023 $ — 28,879 $ 289 6,483 $ 64 $ 236,438 $ 465,919 $ 81,727 $ ( 283,998 ) $ 2,479 $ 502,918 $ - Preferred Common Stock (1) Common Stock Class A (2) Class A Amount Capital in of Value Retained Accumulated Treasury Noncontrolling Interest Total Redeemable Balance, January 31, 2022 $ — 28,633 $ 286 6,525 $ 65 $ 222,615 $ 413,587 $ 85,295 $ ( 249,040 ) $ 1,967 $ 474,775 $ 2,311 Net income attributable to Movado Group, Inc. 71,802 1,421 73,223 479 Dividends ($ 1.05 per share) ( 23,600 ) ( 23,600 ) Stock awards and options exercised 150 1 1,042 ( 1,123 ) ( 80 ) Stock repurchases ( 28,150 ) ( 28,150 ) Supplemental executive retirement plan 94 94 Stock-based compensation expense 4,246 4,246 Net unrealized gain on investments, net 3 9 9 Net change in effective portion of hedging contracts, net of tax benefit of ($ 55 ) ( 279 ) ( 279 ) Amortization of prior service cost, net of tax provision of $ 11 41 41 Foreign currency translation ( 18,870 ) ( 295 ) ( 19,165 ) ( 357 ) Balance, October 31, 2022 $ — 28,783 $ 287 6,525 $ 65 $ 227,997 $ 461,789 $ 66,196 $ ( 278,313 ) $ 3,093 $ 481,114 $ 2,433 (1) Each share of common stock is entitled to one vote per share on all matters submitted to a vote of the shareholders. (2) Each share of class A common stock is entitled to 10 votes per share on all matters submitted to a vote of the shareholders. Each holder of class A common stock is entitled to convert, at any time, any and all of such shares into the same number of shares of common stock. Each share of class A common stock is converted automatically into common stock in the event that the beneficial or record ownership of such shares of class A common stock is transferred to any person, except to certain family members or affiliated persons deemed “permitted transferees” pursuant to the Company’s Restated Certificate of Incorporation, as amended. The class A common stock is not publicly traded, and consequently, there is currently no established public trading market for these shares. (3) The currency translation adjustment is not adjusted for income taxes to the extent that it relates to permanent investments of earnings in international subsidiaries.

Treasury Stock

Treasury Stock	9 Months Ended
	Oct. 31, 2023
Equity [Abstract]
Treasury Stock	NOTE 11 – TREASURY STOCK On March 25, 2021, the Board approved a share repurchase program under which the Company was authorized to purchase up to $ 25.0 million of its outstanding common stock through September 30, 2022, depending on market conditions, share price and other factors. On November 23, 2021, the Board approved a share repurchase program under which the Company is authorized to purchase up to an additional $ 50.0 million of its outstanding common stock through November 23, 2024, depending on market conditions, share price and other factors. Under both share repurchase programs, the Company is permitted to purchase shares of its common stock from time to time through open market purchases, repurchase plans, block trades or otherwise. During the nine months ended October 31, 2023, the Company repurchased a total of 85,722 shares of its common stock under the November 23, 2021 share repurchase program at a total cost of $ 2.3 million, or an average of $ 27.40 per share. During the nine months ended October 31, 2022, the Company repurchased a total of 795,456 shares of its common stock under the March 25, 2021 share repurchase program and November 23, 2021 share repurchase program at a total cost of $ 28.2 million, or an average of $ 35.39 per share. At October 31, 2023, zero remains available for purchase under the Company’s March 25, 2021 repurchase program and $ 18.6 million remains available for purchase under the Company's November 23, 2021 repurchase program. There were 2,799 and 28,405 shares of common stock repurchased during the nine months ended October 31, 2023 and 2022, respectively, as a result of the surrender of shares in connection with the vesting of restricted stock awards or stock options. At the election of an employee, shares having an aggregate value on the vesting date equal to the employee’s withholding tax obligation may be surrendered to the Company.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	9 Months Ended
	Oct. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income	NOTE 12 – ACCUMULATED OTHER COMPREHENSIVE INCOME The accumulated balances at October 31, 2023 and 2022, and January 31, 2023, related to each component of accumulated other comprehensive income/(loss) are as follows (in thousands): October 31, January 31, October 31, Foreign currency translation adjustments $ 83,261 $ 83,005 $ 65,855 Available-for-sale securities 144 182 181 Cash flow hedges ( 2 ) ( 171 ) ( 85 ) Unrecognized prior service cost related to defined benefit pension plan ( 186 ) ( 231 ) ( 246 ) Net actuarial (loss)/gain related to defined benefit pension plan ( 1,490 ) ( 1,490 ) 491 Total accumulated other comprehensive income $ 81,727 $ 81,295 $ 66,196 Amounts reclassified from accumulated other comprehensive income to operating income in the Consolidated Statements of Operations during the nine months ended October 31, 2023 and October 31, 2022 were $ 0.1 m illion and $ 2.2 million, respectively.

Revenue

Revenue	9 Months Ended
	Oct. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue	NOTE 13 – REVENUE Disaggregation of Revenue The following table presents the Company’s net sales disaggregated by customer type. Sales and usage-based taxes are excluded from net sales (in thousands): For the Three Months Ended For the Nine Months Ended Customer Type 2023 2022 2023 2022 Wholesale $ 154,330 $ 174,158 $ 386,767 $ 440,121 Direct to consumer 32,602 36,495 103,618 114,835 After-sales service 754 744 2,596 2,669 Net Sales $ 187,686 $ 211,397 $ 492,981 $ 557,625 The Company’s revenue from contracts with customers is recognized at a point in time. The Company’s net sales disaggregated by geography are based on the location of the Company’s customer (see Note 15 – Segment and Geographic Information). Wholesale Revenue The Company’s wholesale revenue consists primarily of revenues from independent distributors, department stores, chain stores, independent jewelry stores and third-party e-commerce retailers. The Company recognizes and records its revenue when obligations under the terms of a contract with the customer are satisfied, and control is transferred to the customer. Transfer of control passes to wholesale customers upon shipment or upon receipt depending on the agreement with the customer and shipping terms. Wholesale revenue is measured as the amount of consideration the Company ultimately expects to receive in exchange for transferring goods. Wholesale revenue is included entirely within the Watch and Accessory Brands segment (see Note 15 – Segment and Geographic Information), consistent with how management makes decisions regarding the allocation of resources and performance measurement. Direct to Consumer Revenue The Company’s direct to consumer revenue primarily consists of revenues from the Company’s outlet stores, the Company’s owned e-commerce websites and concession stores, and consumer repairs. The Company recognizes and records its revenue when obligations under the terms of a contract with the customer are satisfied, and control is transferred to the customer. Control passes to outlet store customers at the time of sale and to substantially all e-commerce customers upon shipment. Direct to Consumer revenue is included in either the Watch and Accessory Brands segment or Company Stores Segment based on how the Company makes decisions about the allocation of resources and performance measurement. Revenue derived from outlet stores and related e-commerce is included within the Company Stores Segment. Other Direct to Consumer revenue (i.e., revenue derived from other Company-owned e-commerce websites, concession stores and consumer repairs) is included within the Watch and Accessory Brands segment. (See Note 15 – Segment and Geographic Information). After-Sales Service All watches sold by the Company come with limited warranties covering the movement against defects in materials and workmanship. The Company’s after-sales service revenues consists of out of warranty service provided to customers and authorized third party repair centers, and sale of watch parts. The Company recognizes and records its revenue when obligations under the terms of a contract with the customer are satisfied and control is transferred to the customer. After-sales service revenue is measured as the amount of consideration the Company ultimately expects to receive in exchange for transferring goods. Revenue from after sales service, including consumer repairs, is included entirely within the Watch and Accessory Brands segment, consistent with how management makes decisions about the allocation of resources and performance measurement.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Oct. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	NOTE 14 – STOCK-BASED COMPENSATION Under the Company’s Stock Incentive Plan, as amended and restated as of June 22, 2023 (the “Plan”), the Compensation and Human Capital Committee of the Board of Directors, which consists of three of the Company’s non-employee directors, has the authority to grant participants incentive stock options, nonqualified stock options, restricted stock, stock appreciation rights and stock awards, for up to 12,000,000 shares of common stock. Stock Options: Stock options granted to participants under the plan generally become exercisable after three years and remain exercisable until the tenth anniversary of the date of grant. All stock options granted under the Plan have an exercise price equal to or greater than the fair market value of the Company’s common stock on the grant date. The table below presents the weighted average assumptions used with the Black-Scholes option-pricing model for the calculation of the fair value of stock options granted during the nine months ended October 31, 2022. There were no stock options granted during the nine months ended October 31, 2023. Nine Months Ended October 31, 2022 Expected volatility 51.66 % Expected life in years 6.0 Risk-free interest rates 2.57 % Dividend rate 3.00 % Weighted average fair value per option at date of grant $ 14.81 The fair value of the stock options, less expected forfeitures, is amortized on a straight-line basis over the vesting term. Total compensation expense for stock option grants recognized during the three months ended October 31, 2023 and 2022 was $ 0.5 million and $ 0.6 million, respectively. Total compensation expense for stock option grants recognized during the nine months ended October 31, 2023 and 2022 was $ 1.7 million for both periods. As of October 31, 2023, there was $ 1.4 million of unrecognized compensation cost related to unvested stock options. These costs are expected to be recognized over a weighted-average period of 1.2 y ears. Total cash consideration received for stock option exercises during the nine months ended October 31, 2023 and 2022 wa s zero and $ 1.0 million, respectively. The following table summarizes the Company’s stock options activity during the first nine months of fiscal 2024: Outstanding Weighted Option Weighted Aggregate Options outstanding at January 31, 183,101 options exercisable) 1,085,029 $ 23.84 $ 12.42 -$ 42.12 7.1 $ 13,367 Granted — — — Exercised — — — Forfeited ( 19,000 ) $ 34.13 $ 30.34 -$ 42.12 Options outstanding at October 31, 2023 1,066,029 $ 23.66 $ 12.42 -$ 42.12 6.5 $ 7,019 Exercisable at October 31, 2023 385,215 $ 21.60 4.6 $ 3,356 Expected to vest at October 31, 2023 673,957 $ 24.71 7.5 $ 3,662 There were no stock options exercised during the first nine months of fiscal 2024. Stock Awards: Under the Plan, the Company can also grant stock awards to employees and directors. For the three months ended October 31, 2023 and 2022, compensation expense for stock awards was $ 1.4 million and $ 0.9 million, respectively. For the nine months ended October 31, 2023 and 2022, compensation expense for stock awards was $ 3.8 million and $ 2.6 million, respectively. As of October 31, 2023, there was $ 7.8 million of unrecognized compensation cost related to unvested stock awards. These costs are expected to be recognized over a weighted-average period of 2.0 years. The following table summarizes the Company’s stock awards activity during the first nine months of fiscal 2024: Number of Weighted- Weighted- Aggregate Units outstanding at January 31, 2023 294,148 $ 28.84 Units granted 300,633 $ 28.60 Units vested ( 31,739 ) $ 32.73 Units forfeited ( 4,446 ) $ 28.78 Units outstanding at October 31, 2023 558,596 $ 28.49 1.7 $ 15,562 Stock awards granted by the Company can be classified as either time-based stock awards or performance-based stock awards. Time-based stock awards vest over time in the number of shares established at grant date, subject to continued employment. Performance-based stock awards vest over time subject both to continued employment and to the achievement of corporate financial performance goals. Upon the vesting of a stock award, shares are issued from the pool of authorized shares. The number of shares to be issued related to the outstanding performance-based stock awards can vary from 0 % to 200 % of the target number of underlying stock award units established at grant date, depending on the extent of the achievement of the predetermined financial goals. There were 2,799 and 28,405 shares of common stock of the Company tendered by the employee for the payment of the employee's withholding tax obligation totaling $ 0.1 million and $ 1.1 million for the nine months ended October 31, 2023 and 2022, respectively. The total fair value of stock award units that vested during the first nine months of fiscal 2024 was $ 1.0 m illion.

Segment and Geographic Informat

Segment and Geographic Information	9 Months Ended
	Oct. 31, 2023
Segment Reporting [Abstract]
Segment and Geographic Information	NOTE 15 – SEGMENT AND GEOGRAPHIC INFORMATION The Company conducts its business in two operating segments: Watch and Accessory Brands and Company Stores. The Company’s Watch and Accessory Brands segment includes the designing, manufacturing and distribution of watches and, to a lesser extent, jewelry and other accessories, of owned and licensed brands, in addition to revenue generated from after-sales service activities and shipping. The Company Stores segment includes the Company’s retail outlet business. The Chief Executive Officer of the Company is the chief operating decision maker (“CODM”) and regularly reviews operating results for each of the two operating segments to assess performance and makes operating decisions about the allocation of the Company’s resources. The Company divides its business into two major geographic locations: United States operations and International, which includes the results of all non-U.S. Company operations. The allocation of geographic revenue is based upon the location of the customer. The Company’s International operations in Europe, the Middle East, the Americas (excluding the United States) and Asia accounted for 34.0 %, 13.3 %, 8.0 % and 3.9 %, respectively, of the Company’s total net sales for the three months ended October 31, 2023. For the three months ended October 31, 2022, the Company’s International operations in Europe, the Middle East, the Americas (excluding the United States) and Asia accounted for 36.7 %, 9 .9 %, 6.8 % and 5.3 %, respectively, of the Company’s total net sales. The Company’s International operations in Europe, the Middle East, the Americas (excluding the United States) and Asia accounted for 31.4 %, 13.1 %, 9.4 % and 4.2 %, respectively, of the Company’s total net sales for the nine months ended October 31, 2023. For the nine months ende d October 31, 2022, the Company’s International operations in Europe, the Middle East, the Americas (excluding the United States) and Asia accounted for 34.1 %, 10.1 %, 8.1 % and 4.9 %, respectively, of the Company’s total net sales. Operating Segment Data for the Three Months Ended October 31, 2023 and 2022 (in thousands): Net Sales 2023 2022 Watch and Accessory Brands: Owned brands category $ 55,416 $ 61,585 Licensed brands category 107,355 122,814 After-sales service and all other 2,368 1,766 Total Watch and Accessory Brands 165,139 186,165 Company Stores 22,547 25,232 Consolidated total $ 187,686 $ 211,397 Operating Income (3) 2023 2022 Watch and Accessory Brands $ 18,489 $ 33,626 Company Stores 2,203 4,645 Consolidated total $ 20,692 $ 38,271 Operating Segment Data as of and for the Nine Months Ended October 31, 2023 and 2022 (in thousands): Net Sales 2023 2022 Watch and Accessory Brands: Owned brands category $ 149,436 $ 171,449 Licensed brands category 272,012 308,190 After-sales service and all other 3,370 4,197 Total Watch and Accessory Brands 424,818 483,836 Company Stores 68,163 73,789 Consolidated total $ 492,981 $ 557,625 Operating Income (3) 2023 2022 Watch and Accessory Brands $ 31,907 $ 78,545 Company Stores 9,332 15,677 Consolidated total $ 41,239 $ 94,222 Total Assets October 31, January 31, October 31, Watch and Accessory Brands $ 703,253 $ 722,267 $ 704,953 Company Stores 60,144 65,438 70,727 Consolidated total $ 763,397 $ 787,705 $ 775,680 Geographic Location Data for the Three Months Ended October 31, 2023 and 2022 (in thousands): Net Sales Operating (Loss)/Income (3) 2023 2022 2023 2022 United States (1) $ 76,575 $ 87,350 $ ( 5,256 ) $ 2,228 International (2) 111,111 124,047 25,948 36,043 Consolidated total $ 187,686 $ 211,397 $ 20,692 $ 38,271 United States and International net sales are net of intercompany sales of $ 86.8 million and $ 105.6 million for the three months ended October 31, 2023 and 2022, respectively. Geographic Location Data as of and for the Nine Months Ended October 31, 2023 and 2023 (in thousands): Net Sales Operating (Loss)/Income (3) 2023 2022 2023 2022 United States (1) $ 206,602 $ 238,439 $ ( 17,928 ) $ 6,787 International (2) 286,379 319,186 59,167 87,435 Consolidated total $ 492,981 $ 557,625 $ 41,239 $ 94,222 United States and International net sales are net of intercompany sales of $ 200.3 million and $ 303.0 million for the nine months ended October 31, 2023 and 2022, respectively. (1) The United States operatin g (loss)/income included $ 14.3 million and $ 16.5 million of unallocated corporate expenses for the three months ended October 31, 2023 and 2022, respectively. The United States operating (loss)/income include d $ 36.0 million and $ 42.5 million of unallocated corporate expenses for the nine months ended October 31, 2023 and 2022, respectively. (2) The International operating income included $ 22.9 million and $ 27.6 million of certain intercompany profits related to the Company’s supply chain operations for the three months ended October 31, 2023 and 2022, respectively. The International operating income included $ 55.4 million and $ 65.5 million of certain intercompany profits related to the Company’s supply chain operations for the nine months ended October 31, 2023 and 2022, respectively. (3) For both the three months ended October 31, 2023 and 2022, and for both the nine months ended October 31, 2023 and 2022, in the United States locations of the Watch and Accessory Brands segment, operating (loss)/income included a charge of $ 0.1 million and $ 0.2 million, respectively, related to the amortization of intangible assets and deferred compensation associated with the MVMT brand. In addition, in the International locations of the Watch and Accessory Brands segment for the three months ended October 31, 2023 and 2022, and for the nine months ended October 31, 2023 and 2022, operating income included a charge of $ 0.3 million, $ 0.6 million, $ 1.5 million and $ 1.9 million, respectively, related to the amortization of acquired intangible assets as a result of the Company’s acquisition of the Olivia Burton brand. Total Assets October 31, January 31, October 31, United States $ 373,812 $ 425,209 $ 447,493 International 389,585 362,496 328,187 Consolidated total $ 763,397 $ 787,705 $ 775,680 Property, Plant and Equipment, Net October 31, January 31, October 31, United States $ 12,212 $ 13,422 $ 13,087 International 7,246 5,277 5,120 Consolidated total $ 19,458 $ 18,699 $ 18,207

Earnings Per Share and Cash D_2

Earnings Per Share and Cash Dividends (Tables)	9 Months Ended
	Oct. 31, 2023
Earnings Per Share [Abstract]
Schedule of Number of Shares Used in Calculating Basic and Diluted Earnings Per Share	The number of shares used in calculating basic and diluted earnings per share is as follows (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2023 2022 2023 2022 Weighted average common shares outstanding: Basic 22,209 22,379 22,222 22,590 Effect of dilutive securities: Stock awards and options to purchase shares of 468 415 419 454 Diluted 22,677 22,794 22,641 23,044

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Oct. 31, 2023
Inventory Disclosure [Abstract]
Components of Inventories	Inventories consisted of the following (in thousands): October 31, January 31, October 31, Finished goods $ 141,109 $ 154,700 $ 182,093 Component parts 27,217 28,805 30,192 Work-in-process 3,640 2,698 2,721 $ 171,966 $ 186,203 $ 215,006

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Oct. 31, 2023
Derivative Instrument Detail [Abstract]
Schedule of Derivative Financial Instruments Included in Consolidated Balance Sheets	The following table presents the fair values of the Company's derivative financial instruments included in the Consolidated Balance Sheets as of October 31, 2023, January 31, 2023 and October 31, 2022 (in thousands): Asset Derivatives Liability Derivatives Balance October 31, January 31, October 31, Balance October 31, January 31, October 31, Derivatives designated as hedging instruments: Foreign Exchange Contracts Other Current $ — $ — $ 90 Accrued $ 5 $ 192 $ 48 Total Derivative Instruments $ — $ — $ 90 $ 5 $ 192 $ 48 Asset Derivatives Liability Derivatives Balance October 31, January 31, October 31, Balance October 31, January 31, October 31, Derivatives not designated as hedging instruments: Foreign Exchange Contracts Other Current $ — $ 1,146 $ 31 Accrued $ 650 $ — $ 981 Total Derivative Instruments $ — $ 1,146 $ 31 $ 650 $ — $ 981

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Oct. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	The following tables present the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of October 31, 2023 and 2022 and January 31, 2023 (in thousands): Fair Value at October 31, 2023 Balance Sheet Location Level 1 Level 2 Level 3 Total Assets: Available-for-sale securities Other current assets $ 213 $ — $ — $ 213 Short-term investment Other current assets 150 — — 150 SERP assets - employer Other non-current assets 591 — — 591 SERP assets - employee Other non-current assets 45,534 — — 45,534 Defined benefit plan assets Other non-current liabilities — — 29,712 29,712 Hedge derivatives Other current assets — — — — Total $ 46,488 $ — $ 29,712 $ 76,200 Liabilities: SERP liabilities - employee Other non-current liabilities $ 45,534 $ — $ — $ 45,534 Hedge derivatives Accrued liabilities — 655 — 655 Total $ 45,534 $ 655 $ — $ 46,189 Fair Value at January 31, 2023 Balance Sheet Location Level 1 Level 2 Level 3 Total Assets: Available-for-sale securities Other current assets $ 263 $ — $ — $ 263 Short-term investment Other current assets 156 — — 156 SERP assets - employer Other non-current assets 738 — — 738 SERP assets - employee Other non-current assets 44,442 — — 44,442 Defined benefit plan assets Other non-current liabilities — — 27,965 27,965 Hedge derivatives Other current assets — 1,146 — 1,146 Total $ 45,599 $ 1,146 $ 27,965 $ 74,710 Liabilities: SERP liabilities - employee Other non-current liabilities $ 44,442 $ — $ — $ 44,442 Hedge derivatives Accrued liabilities — 192 — 192 Total $ 44,442 $ 192 $ — $ 44,634 Fair Value at October 31, 2022 Balance Sheet Location Level 1 Level 2 Level 3 Total Assets: Available-for-sale securities Other current assets $ 262 $ — $ — $ 262 Short-term investment Other current assets 153 — — 153 SERP assets - employer Other non-current assets 928 — — 928 SERP assets - employee Other non-current assets 42,886 — — 42,886 Defined benefit plan assets Other non-current assets — — 24,847 24,847 Hedge derivatives Other current assets — 121 — 121 Total $ 44,229 $ 121 $ 24,847 $ 69,197 Liabilities: SERP liabilities - employee Other non-current liabilities $ 42,886 $ — $ — $ 42,886 Hedge derivatives Accrued liabilities $ - $ 1,029 $ — $ 1,029 Total $ 42,886 $ 1,029 $ — $ 43,915

Equity (Tables)

Equity (Tables)	9 Months Ended
	Oct. 31, 2023
Equity [Abstract]
Components of Equity	The components of equity for the three and nine months ended October 31, 2023 and 2022 are as follows (in thousands): Movado Group, Inc. Shareholders' Equity for the three months ended October 31, 2023 and 2022 Preferred Common Stock (1) Common Stock Class A (2) Class A Amount Capital in of Value Retained Accumulated Treasury Noncontrolling Total Redeemable Balance, July 31, 2023 $ — 28,876 $ 289 6,483 $ 64 $ 234,443 $ 456,279 $ 91,810 $ ( 282,101 ) $ 3,114 $ 503,898 $ - Net income attributable to Movado Group, Inc. 17,389 281 17,670 Dividends ($ 0.35 per share) ( 7,749 ) ( 7,749 ) Distribution of noncontrolling interest earnings ( 780 ) ( 780 ) Stock awards and options exercised 3 19 19 Stock repurchases ( 1,916 ) ( 1,916 ) Supplemental executive retirement plan 45 45 Stock-based compensation expense 1,950 1,950 Net unrealized loss on investments, net 3 ) ( 9 ) ( 9 ) Net change in effective portion of hedging contracts, net of tax benefit of ($ 5 ) ( 23 ) ( 23 ) Amortization of prior service cost, net of tax provision of $ 4 15 15 Foreign currency translation ( 10,066 ) ( 136 ) ( 10,202 ) Balance, October 31, 2023 $ — 28,879 $ 289 6,483 $ 64 $ 236,438 $ 465,919 $ 81,727 $ ( 283,998 ) $ 2,479 $ 502,918 $ - Preferred Common Stock (1) Common Stock Class A (2) Class A Amount Capital in of Value Retained Accumulated Treasury Noncontrolling Interest Total Redeemable Balance, July 31, 2022 $ — 28,771 $ 287 6,525 $ 65 $ 226,156 $ 440,306 $ 75,724 $ ( 271,702 ) $ 2,715 $ 473,551 $ 2,305 Net income attributable to Movado Group, Inc. 29,286 608 29,894 217 Dividends ($ 0.35 per share) ( 7,803 ) ( 7,803 ) Stock awards and options exercised 12 325 325 Stock repurchases ( 6,611 ) ( 6,611 ) Supplemental executive retirement plan 31 31 Stock-based compensation expense 1,485 1,485 Net unrealized gain on investments, net 8 23 23 Net change in effective portion of hedging contracts, net of tax benefit of ($ 242 ) ( 1,225 ) ( 1,225 ) Amortization of prior service cost, net of tax provision of $ 3 13 13 Foreign currency translation ( 8,339 ) ( 230 ) ( 8,569 ) ( 89 ) Balance, October 31, 2022 $ — 28,783 $ 287 6,525 $ 65 $ 227,997 $ 461,789 $ 66,196 $ ( 278,313 ) $ 3,093 $ 481,114 $ 2,433 Movado Group, Inc. Shareholders' Equity for the nine months ended October 31, 2023 and 2022 Preferred Common Stock (1) Common Stock Class A (2) Class A Amount Capital in of Value Retained Accumulated Treasury Noncontrolling Total Redeemable Balance, January 31, 2023 $ — 28,807 $ 288 6,525 $ 65 $ 230,782 $ 476,752 $ 81,295 $ ( 281,576 ) $ 2,938 $ 510,544 $ - Net income attributable to Movado Group, Inc. 34,566 568 35,134 Dividends ($ 2.05 per share) ( 45,399 ) ( 45,399 ) Distribution of noncontrolling interest earnings ( 780 ) ( 780 ) Stock awards and options exercised 30 ( 73 ) ( 73 ) Stock repurchases ( 2,349 ) ( 2,349 ) Conversion of Class A Common Stock to Common Stock 42 1 ( 42 ) ( 1 ) - Supplemental executive retirement plan 127 127 Stock-based compensation expense 5,529 5,529 Net unrealized loss on investments, net 13 ) ( 38 ) ( 38 ) Net change in effective portion of hedging contracts, net of tax provision of $ 33 169 169 Amortization of prior service cost, net of tax provision of $ 12 45 45 Foreign currency translation 256 ( 247 ) 9 Balance, October 31, 2023 $ — 28,879 $ 289 6,483 $ 64 $ 236,438 $ 465,919 $ 81,727 $ ( 283,998 ) $ 2,479 $ 502,918 $ - Preferred Common Stock (1) Common Stock Class A (2) Class A Amount Capital in of Value Retained Accumulated Treasury Noncontrolling Interest Total Redeemable Balance, January 31, 2022 $ — 28,633 $ 286 6,525 $ 65 $ 222,615 $ 413,587 $ 85,295 $ ( 249,040 ) $ 1,967 $ 474,775 $ 2,311 Net income attributable to Movado Group, Inc. 71,802 1,421 73,223 479 Dividends ($ 1.05 per share) ( 23,600 ) ( 23,600 ) Stock awards and options exercised 150 1 1,042 ( 1,123 ) ( 80 ) Stock repurchases ( 28,150 ) ( 28,150 ) Supplemental executive retirement plan 94 94 Stock-based compensation expense 4,246 4,246 Net unrealized gain on investments, net 3 9 9 Net change in effective portion of hedging contracts, net of tax benefit of ($ 55 ) ( 279 ) ( 279 ) Amortization of prior service cost, net of tax provision of $ 11 41 41 Foreign currency translation ( 18,870 ) ( 295 ) ( 19,165 ) ( 357 ) Balance, October 31, 2022 $ — 28,783 $ 287 6,525 $ 65 $ 227,997 $ 461,789 $ 66,196 $ ( 278,313 ) $ 3,093 $ 481,114 $ 2,433 (1) Each share of common stock is entitled to one vote per share on all matters submitted to a vote of the shareholders. (2) Each share of class A common stock is entitled to 10 votes per share on all matters submitted to a vote of the shareholders. Each holder of class A common stock is entitled to convert, at any time, any and all of such shares into the same number of shares of common stock. Each share of class A common stock is converted automatically into common stock in the event that the beneficial or record ownership of such shares of class A common stock is transferred to any person, except to certain family members or affiliated persons deemed “permitted transferees” pursuant to the Company’s Restated Certificate of Incorporation, as amended. The class A common stock is not publicly traded, and consequently, there is currently no established public trading market for these shares. (3) The currency translation adjustment is not adjusted for income taxes to the extent that it relates to permanent investments of earnings in international subsidiaries.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Oct. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Component of Accumulated Other Comprehensive Income/(Loss)	The accumulated balances at October 31, 2023 and 2022, and January 31, 2023, related to each component of accumulated other comprehensive income/(loss) are as follows (in thousands): October 31, January 31, October 31, Foreign currency translation adjustments $ 83,261 $ 83,005 $ 65,855 Available-for-sale securities 144 182 181 Cash flow hedges ( 2 ) ( 171 ) ( 85 ) Unrecognized prior service cost related to defined benefit pension plan ( 186 ) ( 231 ) ( 246 ) Net actuarial (loss)/gain related to defined benefit pension plan ( 1,490 ) ( 1,490 ) 491 Total accumulated other comprehensive income $ 81,727 $ 81,295 $ 66,196 Amounts reclassified from accumulated other comprehensive income to operating income in the Consolidated Statements of Operations during the nine months ended October 31, 2023 and October 31, 2022 were $ 0.1 m illion and $ 2.2 million, respectively.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Oct. 31, 2023
Revenue from Contract with Customer [Abstract]
Summary of Net Sales Disaggregated by Customer Type	The following table presents the Company’s net sales disaggregated by customer type. Sales and usage-based taxes are excluded from net sales (in thousands): For the Three Months Ended For the Nine Months Ended Customer Type 2023 2022 2023 2022 Wholesale $ 154,330 $ 174,158 $ 386,767 $ 440,121 Direct to consumer 32,602 36,495 103,618 114,835 After-sales service 754 744 2,596 2,669 Net Sales $ 187,686 $ 211,397 $ 492,981 $ 557,625

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Oct. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Weighted Average Assumptions Used for Calculation of Fair Value of Stock Options Granted	The table below presents the weighted average assumptions used with the Black-Scholes option-pricing model for the calculation of the fair value of stock options granted during the nine months ended October 31, 2022. There were no stock options granted during the nine months ended October 31, 2023. Nine Months Ended October 31, 2022 Expected volatility 51.66 % Expected life in years 6.0 Risk-free interest rates 2.57 % Dividend rate 3.00 % Weighted average fair value per option at date of grant $ 14.81
Schedule of Stock Options Activity	The following table summarizes the Company’s stock options activity during the first nine months of fiscal 2024: Outstanding Weighted Option Weighted Aggregate Options outstanding at January 31, 183,101 options exercisable) 1,085,029 $ 23.84 $ 12.42 -$ 42.12 7.1 $ 13,367 Granted — — — Exercised — — — Forfeited ( 19,000 ) $ 34.13 $ 30.34 -$ 42.12 Options outstanding at October 31, 2023 1,066,029 $ 23.66 $ 12.42 -$ 42.12 6.5 $ 7,019 Exercisable at October 31, 2023 385,215 $ 21.60 4.6 $ 3,356 Expected to vest at October 31, 2023 673,957 $ 24.71 7.5 $ 3,662
Summary of Stock Awards Activity	The following table summarizes the Company’s stock awards activity during the first nine months of fiscal 2024: Number of Weighted- Weighted- Aggregate Units outstanding at January 31, 2023 294,148 $ 28.84 Units granted 300,633 $ 28.60 Units vested ( 31,739 ) $ 32.73 Units forfeited ( 4,446 ) $ 28.78 Units outstanding at October 31, 2023 558,596 $ 28.49 1.7 $ 15,562

Segment and Geographic Inform_2

Segment and Geographic Information (Tables)	9 Months Ended
	Oct. 31, 2023
Segment Reporting [Abstract]
Operating Segment Data	Operating Segment Data for the Three Months Ended October 31, 2023 and 2022 (in thousands): Net Sales 2023 2022 Watch and Accessory Brands: Owned brands category $ 55,416 $ 61,585 Licensed brands category 107,355 122,814 After-sales service and all other 2,368 1,766 Total Watch and Accessory Brands 165,139 186,165 Company Stores 22,547 25,232 Consolidated total $ 187,686 $ 211,397 Operating Income (3) 2023 2022 Watch and Accessory Brands $ 18,489 $ 33,626 Company Stores 2,203 4,645 Consolidated total $ 20,692 $ 38,271 Operating Segment Data as of and for the Nine Months Ended October 31, 2023 and 2022 (in thousands): Net Sales 2023 2022 Watch and Accessory Brands: Owned brands category $ 149,436 $ 171,449 Licensed brands category 272,012 308,190 After-sales service and all other 3,370 4,197 Total Watch and Accessory Brands 424,818 483,836 Company Stores 68,163 73,789 Consolidated total $ 492,981 $ 557,625 Operating Income (3) 2023 2022 Watch and Accessory Brands $ 31,907 $ 78,545 Company Stores 9,332 15,677 Consolidated total $ 41,239 $ 94,222 Total Assets October 31, January 31, October 31, Watch and Accessory Brands $ 703,253 $ 722,267 $ 704,953 Company Stores 60,144 65,438 70,727 Consolidated total $ 763,397 $ 787,705 $ 775,680
Geographic Segment Data	Geographic Location Data for the Three Months Ended October 31, 2023 and 2022 (in thousands): Net Sales Operating (Loss)/Income (3) 2023 2022 2023 2022 United States (1) $ 76,575 $ 87,350 $ ( 5,256 ) $ 2,228 International (2) 111,111 124,047 25,948 36,043 Consolidated total $ 187,686 $ 211,397 $ 20,692 $ 38,271 United States and International net sales are net of intercompany sales of $ 86.8 million and $ 105.6 million for the three months ended October 31, 2023 and 2022, respectively. Geographic Location Data as of and for the Nine Months Ended October 31, 2023 and 2023 (in thousands): Net Sales Operating (Loss)/Income (3) 2023 2022 2023 2022 United States (1) $ 206,602 $ 238,439 $ ( 17,928 ) $ 6,787 International (2) 286,379 319,186 59,167 87,435 Consolidated total $ 492,981 $ 557,625 $ 41,239 $ 94,222 United States and International net sales are net of intercompany sales of $ 200.3 million and $ 303.0 million for the nine months ended October 31, 2023 and 2022, respectively. (1) The United States operatin g (loss)/income included $ 14.3 million and $ 16.5 million of unallocated corporate expenses for the three months ended October 31, 2023 and 2022, respectively. The United States operating (loss)/income include d $ 36.0 million and $ 42.5 million of unallocated corporate expenses for the nine months ended October 31, 2023 and 2022, respectively. (2) The International operating income included $ 22.9 million and $ 27.6 million of certain intercompany profits related to the Company’s supply chain operations for the three months ended October 31, 2023 and 2022, respectively. The International operating income included $ 55.4 million and $ 65.5 million of certain intercompany profits related to the Company’s supply chain operations for the nine months ended October 31, 2023 and 2022, respectively. (3) For both the three months ended October 31, 2023 and 2022, and for both the nine months ended October 31, 2023 and 2022, in the United States locations of the Watch and Accessory Brands segment, operating (loss)/income included a charge of $ 0.1 million and $ 0.2 million, respectively, related to the amortization of intangible assets and deferred compensation associated with the MVMT brand. In addition, in the International locations of the Watch and Accessory Brands segment for the three months ended October 31, 2023 and 2022, and for the nine months ended October 31, 2023 and 2022, operating income included a charge of $ 0.3 million, $ 0.6 million, $ 1.5 million and $ 1.9 million, respectively, related to the amortization of acquired intangible assets as a result of the Company’s acquisition of the Olivia Burton brand. Total Assets October 31, January 31, October 31, United States $ 373,812 $ 425,209 $ 447,493 International 389,585 362,496 328,187 Consolidated total $ 763,397 $ 787,705 $ 775,680 Property, Plant and Equipment, Net October 31, January 31, October 31, United States $ 12,212 $ 13,422 $ 13,087 International 7,246 5,277 5,120 Consolidated total $ 19,458 $ 18,699 $ 18,207

Earnings Per Share and Cash D_3

Earnings Per Share and Cash Dividends - Schedule of Number of Shares Used in Calculating Basic and Diluted Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2023	Oct. 31, 2022
Weighted average common shares outstanding:
Basic	22,209	22,379	22,222	22,590
Effect of dilutive securities:
Stock awards and options to purchase shares of common stock	468	415	419	454
Diluted	22,677	22,794	22,641	23,044

Earnings Per Share and Cash D_4

Earnings Per Share and Cash Dividends - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands					3 Months Ended					9 Months Ended
	Aug. 24, 2023	May 25, 2023	Mar. 23, 2023	Mar. 23, 2023	Oct. 31, 2023	Apr. 30, 2023	Oct. 31, 2022	Jul. 31, 2022	Apr. 30, 2022	Oct. 31, 2023	Oct. 31, 2022
Dividends Payable [Line Items]
Dilutive common stock equivalents were excluded from the computation of diluted earnings per share					497,000		433,000			671,000	270,000
Cash dividend declared and payable			$ 1	$ 0.35	$ 0.35		$ 0.35			$ 2.05	$ 1.05
Dividend paid					$ 7,749	$ 29,900	$ 7,803	$ 7,900	$ 7,900	$ 45,399	$ 23,600
Dividend payable date						Apr. 19, 2023
Cash dividend paid per share							$ 0.35	$ 0.35	$ 0.35
Dividend payable, record date				Apr. 05, 2023
Quarterly Cash Dividend
Dividends Payable [Line Items]
Cash dividend declared and payable	$ 0.35	$ 0.35
Dividend paid	$ 7,800	$ 7,700
Dividend payable date	Sep. 21, 2023	Jun. 21, 2023
Dividend payable, record date	Sep. 07, 2023	Jun. 07, 2023

Inventories - Components of Inv

Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Oct. 31, 2023	Jan. 31, 2023	Oct. 31, 2022
Inventory, Net [Abstract]
Finished goods	$ 141,109	$ 154,700	$ 182,093
Component parts	27,217	28,805	30,192
Work-in-process	3,640	2,698	2,721
Inventories	$ 171,966	$ 186,203	$ 215,006

Debt and Lines of Credit - Addi

Debt and Lines of Credit - Additional Information (Details)		1 Months Ended	3 Months Ended		9 Months Ended
	Oct. 12, 2018 USD ($)	Nov. 30, 2023 USD ($)	Oct. 31, 2023 USD ($) Bank Subsidiary	Oct. 31, 2022 USD ($) Bank Subsidiary	Oct. 31, 2023 USD ($) Bank Subsidiary	Oct. 31, 2022 USD ($) Bank Subsidiary	Oct. 31, 2023 CHF (SFr) Bank Subsidiary	Oct. 31, 2022 CHF (SFr) Bank Subsidiary
Debt Instrument [Line Items]
Cash paid for interest					$ 200,000	$ 200,000
Unsecured Debt | Swiss subsidiary
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 7,100,000	$ 6,500,000	7,100,000	6,500,000	SFr 6,500,000	SFr 6,500,000
Outstanding borrowing amount			0	0	0	0
Revolving Credit Facility | Secured Debt | Credit Agreement Due on October 28, 2026
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 100,000,000
Uncommitted increase to borrowing capacity	$ 50,000,000
Credit facility matures date	Oct. 28, 2026
Loan drawn under the facility			0	0	0	0
Line of credit facility remaining borrowing capacity			99,700,000	99,700,000	99,700,000	99,700,000
Weighted average borrowings amount			0	0	$ 0	0
Letter of Credit
Debt Instrument [Line Items]
Credit facility matures date					May 31, 2024
Outstanding borrowing amount			$ 300,000	$ 300,000	$ 300,000	$ 300,000
Letter of Credit | Secured Debt | Credit Agreement Due on October 28, 2026
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 15,000,000
Letter of Credit | Unsecured Debt | Swiss subsidiary
Debt Instrument [Line Items]
Number of European banks guaranteed obligations to third parties | Bank			2	2	2	2	2	2
Number of foreign subsidiaries under guaranteed obligation | Subsidiary			2	2	2	2	2	2
Guaranteed obligations to third parties			$ 1,500,000	$ 1,100,000	$ 1,500,000	$ 1,100,000
Restricted deposit relates to lease agreement			$ 800,000	$ 500,000	$ 800,000	$ 500,000
Letter of Credit | Subsequent Event | Unsecured Debt | Swiss subsidiary
Debt Instrument [Line Items]
Refunded restricted deposit relates to lease agreement		$ 100,000
Swingline | Secured Debt | Credit Agreement Due on October 28, 2026
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	25,000,000
Swiss Borrowers | Secured Debt | Credit Agreement Due on October 28, 2026
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 75,000,000

Derivative Financial Instrume_3

Derivative Financial Instruments - Additional Information (Details) € in Millions, ¥ in Millions, £ in Millions, SFr in Millions	3 Months Ended		9 Months Ended
	Oct. 31, 2023 USD ($)	Oct. 31, 2022 USD ($)	Oct. 31, 2023 USD ($)	Oct. 31, 2022 USD ($)	Oct. 31, 2023 CNY (¥)	Oct. 31, 2023 CHF (SFr)	Oct. 31, 2023 EUR (€)	Oct. 31, 2023 GBP (£)	Jan. 31, 2023 USD ($)
Derivatives Fair Value [Line Items]
Net deferred gains on derivative financial instruments designated as cash flow hedges included in accumulated other comprehensive (loss)	$ (2,000)	$ (85,000)	$ (2,000)	$ (85,000)					$ (171,000)
Reclassify amounts from accumulated other comprehensive income to net sales	$ 300,000	$ 1,100,000	$ 100,000	$ 2,200,000
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax		Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax
Cash flow hedge ineffectiveness	$ 0		$ 0
Derivatives Designated As Hedging Instruments
Derivatives Fair Value [Line Items]
Expiry dates ranging			Nov. 10, 2023
Derivatives Designated As Hedging Instruments | Foreign Exchange Forward
Derivatives Fair Value [Line Items]
Net forward contracts hedging portfolio	3,000,000		$ 3,000,000
Derivatives Not Designated as Hedging Instrument | Foreign Exchange Forward
Derivatives Fair Value [Line Items]
Net forward contracts hedging portfolio	$ 24,700,000		$ 24,700,000		¥ 20.7	SFr 28	€ 24.6	£ 5.8
Maximum | Derivatives Not Designated as Hedging Instrument | Foreign Exchange Forward
Derivatives Fair Value [Line Items]
Expiry dates ranging			Apr. 04, 2024

Derivative Financial Instrume_4

Derivative Financial Instruments - Schedule of Derivative Financial Instruments Included in Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Oct. 31, 2023	Jan. 31, 2023	Oct. 31, 2022
Derivatives Designated As Hedging Instruments
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value			$ 90
Liability Derivatives, Fair Value	$ 5	$ 192	48
Derivatives Designated As Hedging Instruments | Other Current Assets | Foreign Exchange Contracts
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value			90
Derivatives Designated As Hedging Instruments | Accrued Liabilities | Foreign Exchange Contracts
Derivatives, Fair Value [Line Items]
Liability Derivatives, Fair Value	5	192	48
Derivatives Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value		1,146	31
Liability Derivatives, Fair Value	650		981
Derivatives Not Designated as Hedging Instrument | Other Current Assets | Foreign Exchange Contracts
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value		$ 1,146	31
Derivatives Not Designated as Hedging Instrument | Accrued Liabilities | Foreign Exchange Contracts
Derivatives, Fair Value [Line Items]
Liability Derivatives, Fair Value	$ 650		$ 981

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Oct. 31, 2023	Jan. 31, 2023	Oct. 31, 2022
Assets:
Total assets measured at fair value	$ 76,200	$ 74,710	$ 69,197
Liabilities:
Total liabilities measured at fair value	46,189	44,634	43,915
Level 1
Assets:
Total assets measured at fair value	46,488	45,599	44,229
Liabilities:
Total liabilities measured at fair value	45,534	44,442	42,886
Level 2
Assets:
Total assets measured at fair value	0	1,146	121
Liabilities:
Total liabilities measured at fair value	655	192	1,029
Level 3
Assets:
Total assets measured at fair value	29,712	27,965	24,847
Liabilities:
Total liabilities measured at fair value	0	0	0
Other Current Assets | Available-for-sale securities
Assets:
Total assets measured at fair value	213	263	262
Other Current Assets | Short-term investment
Assets:
Total assets measured at fair value	150	156	153
Other Current Assets | Hedge derivatives-Assets
Assets:
Total assets measured at fair value	0	1,146	121
Other Current Assets | Level 1 | Available-for-sale securities
Assets:
Total assets measured at fair value	213	263	262
Other Current Assets | Level 1 | Short-term investment
Assets:
Total assets measured at fair value	150	156	153
Other Current Assets | Level 1 | Hedge derivatives-Assets
Assets:
Total assets measured at fair value	0	0	0
Other Current Assets | Level 2 | Available-for-sale securities
Assets:
Total assets measured at fair value	0	0	0
Other Current Assets | Level 2 | Short-term investment
Assets:
Total assets measured at fair value	0	0	0
Other Current Assets | Level 2 | Hedge derivatives-Assets
Assets:
Total assets measured at fair value	0	1,146	121
Other Current Assets | Level 3 | Available-for-sale securities
Assets:
Total assets measured at fair value	0	0	0
Other Current Assets | Level 3 | Short-term investment
Assets:
Total assets measured at fair value	0	0	0
Other Current Assets | Level 3 | Hedge derivatives-Assets
Assets:
Total assets measured at fair value	0	0	0
Other Non-current Assets | SERP assets - employer
Assets:
Total assets measured at fair value	591	738	928
Other Non-current Assets | SERP assets - employee
Assets:
Total assets measured at fair value	45,534	44,442	42,886
Other Non-current Assets | Defined Benefit Plan Assets
Assets:
Total assets measured at fair value			24,847
Other Non-current Assets | Level 1 | SERP assets - employer
Assets:
Total assets measured at fair value	591	738	928
Other Non-current Assets | Level 1 | SERP assets - employee
Assets:
Total assets measured at fair value	45,534	44,442	42,886
Other Non-current Assets | Level 1 | Defined Benefit Plan Assets
Assets:
Total assets measured at fair value			0
Other Non-current Assets | Level 2 | SERP assets - employer
Assets:
Total assets measured at fair value	0	0	0
Other Non-current Assets | Level 2 | SERP assets - employee
Assets:
Total assets measured at fair value	0	0	0
Other Non-current Assets | Level 2 | Defined Benefit Plan Assets
Assets:
Total assets measured at fair value			0
Other Non-current Assets | Level 3 | SERP assets - employer
Assets:
Total assets measured at fair value	0	0	0
Other Non-current Assets | Level 3 | SERP assets - employee
Assets:
Total assets measured at fair value	0	0	0
Other Non-current Assets | Level 3 | Defined Benefit Plan Assets
Assets:
Total assets measured at fair value			24,847
Other non-current liabilities | SERP liabilities - employee
Liabilities:
Total liabilities measured at fair value	45,534	44,442	42,886
Other non-current liabilities | Defined Benefit Plan Assets
Assets:
Total assets measured at fair value	29,712	27,965
Other non-current liabilities | Level 1 | SERP liabilities - employee
Liabilities:
Total liabilities measured at fair value	45,534	44,442	42,886
Other non-current liabilities | Level 1 | Defined Benefit Plan Assets
Assets:
Total assets measured at fair value	0	0
Other non-current liabilities | Level 2 | SERP liabilities - employee
Liabilities:
Total liabilities measured at fair value	0	0	0
Other non-current liabilities | Level 2 | Defined Benefit Plan Assets
Assets:
Total assets measured at fair value	0	0
Other non-current liabilities | Level 3 | SERP liabilities - employee
Liabilities:
Total liabilities measured at fair value	0	0	0
Other non-current liabilities | Level 3 | Defined Benefit Plan Assets
Assets:
Total assets measured at fair value	29,712	27,965
Accrued Liabilities | Hedge derivatives-Liabilities
Liabilities:
Total liabilities measured at fair value	655	192	1,029
Accrued Liabilities | Level 1 | Hedge derivatives-Liabilities
Liabilities:
Total liabilities measured at fair value	0	0	0
Accrued Liabilities | Level 2 | Hedge derivatives-Liabilities
Liabilities:
Total liabilities measured at fair value	655	192	1,029
Accrued Liabilities | Level 3 | Hedge derivatives-Liabilities
Liabilities:
Total liabilities measured at fair value	$ 0	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($)	9 Months Ended	12 Months Ended
	Oct. 31, 2023	Jan. 31, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Transfers into level 1 to level 2, assets	$ 0
Transfers into level 2 to level 1, assets	0
Transfers into level 1 to level 2, liabilities	0
Transfers into level 2 to level 1, liabilities	0
Transfers into level 3, assets	0
Transfers out of level 3, assets	0
Transfers into level 3, liabilities	0
Transfers out of level 3, liabilities	0
Investment in venture capital funds	2,000,000	$ 5,300,000
Investments	$ 500,000
Short-term investment
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Fair value, investment	The fair value of the short-term investment, which is a guaranteed investment certificate, is based on its purchase price plus one half of a percent calculated annually.

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	1 Months Ended
	Dec. 31, 2016 USD ($)
Loss Contingencies [Line Items]
Underpaid duty charges due to alternative duty methodology	$ 5.1

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2023	Oct. 31, 2022
Income Tax Contingency [Line Items]
Income tax provision (benefit)	$ 4,519,000	$ 8,439,000	$ 9,938,000	$ 20,868,000
Effective tax rate for continuing operations	20.40%	21.90%	22%	22.10%
Deferred tax liability, undistributed foreign earnings	$ 0		$ 0
Undistributed foreign earnings	$ 286,600,000		$ 286,600,000

Equity - Components of Equity (

Equity - Components of Equity (Details) - USD ($) $ in Thousands		3 Months Ended					9 Months Ended
		Oct. 31, 2023	Apr. 30, 2023	Oct. 31, 2022	Jul. 31, 2022	Apr. 30, 2022	Oct. 31, 2023	Oct. 31, 2022
Beginning Balance		$ 503,898	$ 510,544	$ 473,551		$ 474,775	$ 510,544	$ 474,775
Beginning Balance			0				0
Net income/(loss) attributable to Movado Group, Inc.		17,670		29,894			35,134	73,223
Dividends		(7,749)	(29,900)	(7,803)	$ (7,900)	(7,900)	(45,399)	(23,600)
Distribution of noncontrolling interest earnings		(780)					(780)
Stock awards and options exercised		19		325			(73)	(80)
Stock repurchase		(1,916)			(6,611)		(2,349)	(28,150)
Supplemental executive retirement plan		45		31			127	94
Stock-based compensation expense		1,950		1,485			5,529	4,246
Net unrealized gain (loss) on investments, net of tax benefit		(9)		23			(38)	9
Net change in effective portion of hedging contracts, net of tax provision		(23)		(1,225)			169	(279)
Amortization of prior service cost, net of tax provision		15		13			45	41
Foreign currency translation adjustment	[1]	(10,202)		(8,569)			9	(19,165)
Ending Balance		502,918		481,114	473,551		502,918	481,114
Ending Balance		0		2,433			0	2,433
Common Stock
Beginning Balance		$ 289	$ 288	$ 287		$ 286	$ 288	$ 286
Beginning Balance, Shares	[2]	28,876	28,807	28,771		28,633	28,807	28,633
Stock awards and options exercised								$ 1
Stock awards and options exercised, shares	[2]	3		12			30	150
Conversion of Class A Common Stock to Common Stock							$ 1
Conversion of Class A Common Stock to Common Stock, shares	[2]						42
Ending Balance		$ 289		$ 287	$ 287		$ 289	$ 287
Ending Balance, Shares	[2]	28,879		28,783	28,771		28,879	28,783
Common Stock | Class A Common Stock
Beginning Balance		$ 64	$ 65	$ 65		$ 65	$ 65	$ 65
Beginning Balance, Shares	[3]	6,483	6,525	6,525		6,525	6,525	6,525
Conversion of Class A Common Stock to Common Stock							$ (1)
Conversion of Class A Common Stock to Common Stock, shares	[3]						(42)
Ending Balance		$ 64		$ 65	$ 65		$ 64	$ 65
Ending Balance, Shares	[3]	6,483		6,525	6,525		6,483	6,525
Capital in Excess of Par Value
Beginning Balance		$ 234,443	$ 230,782	$ 226,156		$ 222,615	$ 230,782	$ 222,615
Stock awards and options exercised				325				1,042
Supplemental executive retirement plan		45		31			127	94
Stock-based compensation expense		1,950		1,485			5,529	4,246
Ending Balance		236,438		227,997	$ 226,156		236,438	227,997
Retained Earnings
Beginning Balance		456,279	476,752	440,306		413,587	476,752	413,587
Net income/(loss) attributable to Movado Group, Inc.		17,389		29,286			34,566	71,802
Dividends		(7,749)		(7,803)			(45,399)	(23,600)
Ending Balance		465,919		461,789	440,306		465,919	461,789
Accumulated Other Comprehensive Income
Beginning Balance		91,810	81,295	75,724		85,295	81,295	85,295
Net unrealized gain (loss) on investments, net of tax benefit		(9)		23			(38)	9
Net change in effective portion of hedging contracts, net of tax provision		(23)		(1,225)			169	(279)
Amortization of prior service cost, net of tax provision		15		13			45	41
Foreign currency translation adjustment	[1]	(10,066)		(8,339)			256	(18,870)
Ending Balance		81,727		66,196	75,724		81,727	66,196
Treasury Stock
Beginning Balance		(282,101)	(281,576)	(271,702)		(249,040)	(281,576)	(249,040)
Stock awards and options exercised		19					(73)	(1,123)
Stock repurchase		(1,916)			(6,611)		(2,349)	(28,150)
Ending Balance		(283,998)		(278,313)	(271,702)		(283,998)	(278,313)
Noncontrolling Interest
Beginning Balance		3,114	$ 2,938	2,715		1,967	2,938	1,967
Net income/(loss) attributable to Movado Group, Inc.		281		608			568	1,421
Distribution of noncontrolling interest earnings		(780)					(780)
Foreign currency translation adjustment	[1]	(136)		(230)			(247)	(295)
Ending Balance		$ 2,479		3,093	2,715		$ 2,479	3,093
Redeemable Noncontrolling Interest
Beginning Balance				2,305		$ 2,311		2,311
Net income/(loss) attributable to Movado Group, Inc.				217				479
Foreign currency translation adjustment	[1]			(89)				(357)
Ending Balance				$ 2,433	$ 2,305			$ 2,433
[1] The currency translation adjustment is not adjusted for income taxes to the extent that it relates to permanent investments of earnings in international subsidiaries. Each share of common stock is entitled to one vote per share on all matters submitted to a vote of the shareholders. Each share of class A common stock is entitled to 10 votes per share on all matters submitted to a vote of the shareholders. Each holder of class A common stock is entitled to convert, at any time, any and all of such shares into the same number of shares of common stock. Each share of class A common stock is converted automatically into common stock in the event that the beneficial or record ownership of such shares of class A common stock is transferred to any person, except to certain family members or affiliated persons deemed “permitted transferees” pursuant to the Company’s Restated Certificate of Incorporation, as amended. The class A common stock is not publicly traded, and consequently, there is currently no established public trading market for these shares.

Equity - Components of Equity_2

Equity - Components of Equity (Parenthetical) (Details) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended		9 Months Ended
	Mar. 23, 2023	Mar. 23, 2023	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2023	Oct. 31, 2022
Dividends per share	$ 1	$ 0.35	$ 0.35	$ 0.35	$ 2.05	$ 1.05
Net unrealized loss on investments, tax benefit			$ (3)	$ 8	$ (13)	$ 3
Net change in effective portion of hedging contracts, tax provision			5	242	33	55
Amortization of prior service cost, tax provision			$ 4	$ 3	$ 12	$ 11
Common Stock, Voting Rights					Each share of class A common stock is entitled to 10 votes per share on all matters submitted to a vote of the shareholders.
Common Stock Class Undefined
Common Stock, Voting Rights					Each share of common stock is entitled to one vote per share on all matters submitted to a vote of the shareholders.
Class A Common Stock
Common stock, Conversion basis					Each holder of class A common stock is entitled to convert, at any time, any and all of such shares into the same number of shares of common stock. Each share of class A common stock is converted automatically into common stock in the event that the beneficial or record ownership of such shares of class A common stock is transferred to any person, except to certain family members or affiliated persons deemed “permitted transferees” pursuant to the Company’s Restated Certificate of Incorporation, as amended.

Treasury Stock - Additional Inf

Treasury Stock - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 31, 2023	Jul. 31, 2022	Oct. 31, 2023	Oct. 31, 2022	Nov. 23, 2021	Mar. 25, 2021
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, total cost of shares repurchased	$ 1,916,000	$ 6,611,000	$ 2,349,000	$ 28,150,000
Surrender of Shares by Employee
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, number of shares repurchased			2,799	28,405
March 25, 2021 Share Repurchase Program
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, number of shares authorized						$ 25,000,000
Stock repurchase program, remaining authorized repurchase amount	$ 0		$ 0
November 23, 2021 Share repurchase Program
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, number of shares authorized					$ 50,000,000
Stock repurchase program, total cost of shares repurchased			$ 2,300,000
Stock repurchase program, number of shares repurchased			85,722
Stock repurchase program, average per share price of shares repurchased			$ 27.4
Stock repurchase program, remaining authorized repurchase amount					$ 18,600,000
March 25, 2021 and November 23, 2021 Share Repurchase Program
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, total cost of shares repurchased				$ 28,200,000
Stock repurchase program, number of shares repurchased				795,456
Stock repurchase program, average per share price of shares repurchased				$ 35.39

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income - Component of Accumulated Other Comprehensive Income/(loss) (Details) - USD ($)	Oct. 31, 2023	Jan. 31, 2023	Oct. 31, 2022
Accumulated Other Comprehensive Income Loss [Line Items]
Foreign currency translation adjustments	$ 83,261,000	$ 83,005,000	$ 65,855,000
Available-for-sale securities	144,000	182,000	181,000
Cash flow hedges	(2,000)	(171,000)	(85,000)
Total accumulated other comprehensive income	81,727,000	81,295,000	66,196,000
Unrecognized Prior Service Cost
Accumulated Other Comprehensive Income Loss [Line Items]
Defined benefit pension plan	(186,000)	(231,000)	(246,000)
Net Actuarial (Loss)/Gain
Accumulated Other Comprehensive Income Loss [Line Items]
Defined benefit pension plan	$ (1,490,000)	$ (1,490,000)	$ 491,000

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Amount reclassified from accumulated other comprehensive income (loss)	$ 0.1	$ 2.2

Revenue - Summary of Net Sales

Revenue - Summary of Net Sales Disaggregated by Customer Type (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2023	Oct. 31, 2022
Disaggregation Of Revenue [Line Items]
Net sales	$ 187,686	$ 211,397	$ 492,981	$ 557,625
Wholesale
Disaggregation Of Revenue [Line Items]
Net sales	154,330	174,158	386,767	440,121
Direct to consumer
Disaggregation Of Revenue [Line Items]
Net sales	32,602	36,495	103,618	114,835
After-sales service
Disaggregation Of Revenue [Line Items]
Net sales	$ 754	$ 744	$ 2,596	$ 2,669

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($)		3 Months Ended		9 Months Ended
	Jun. 22, 2023	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2023	Oct. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense		$ 500,000	$ 600,000	$ 1,700,000	$ 1,700,000
Cash received for stock option exercises				$ 0	$ 1,000,000
Common stock tendered by employee for withholding tax obligation				2,799	28,405
Employee's withholding tax obligation				$ 100,000	$ 1,100,000
Unrecognized compensation cost related to unvested stock options		1,400,000		$ 1,400,000
Weighted-average period				1 year 2 months 12 days
Stock Award Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense		1,400,000	$ 900,000	$ 3,800,000	$ 2,600,000
Weighted-average period				2 years
Unrecognized compensation cost		$ 7,800,000		$ 7,800,000
Fair value of stock award units vested				$ 1,000,000
Performance-Based Stock Awards | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares issued percentage of target number of underlying stock award units				0%
Performance-Based Stock Awards | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares issued percentage of target number of underlying stock award units				200%
Employee Stock Option Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of common stock shares	12,000,000
Options granted to participants exercisable period	3 years

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Weighted Average Assumptions Used for Calculation of Fair Value of Stock Options Granted (Details)	9 Months Ended
	Oct. 31, 2022 $ / shares
Share-Based Payment Arrangement [Abstract]
Expected volatility	51.66%
Expected life in years	6 years
Risk-free interest rates	2.57%
Dividend rate	3%
Weighted average fair value per option at date of grant	$ 14.81

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Stock Options Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Oct. 31, 2023	Jan. 31, 2023
Schedule of stock options activity
Outstanding Option Beginning Balance	1,085,029
Granted	0
Exercised	0
Forfeited	(19,000)
Outstanding Option Ending Balance	1,066,029	1,085,029
Exercisable	385,215	183,101
Expected to vest	673,957
Weighted Average Exercise Price per Option, Beginning Balance	$ 23.84
Granted, Weighted Average Exercise Price per Option	0
Exercised. Weighted Average Exercise Price per Option	0
Forfeited, Weighted Average Exercise Price per Option	34.13
Weighted Average Exercise Price per Option, Ending Balance	23.66	$ 23.84
Exercisable, Weighted Average Exercise Price per Option	21.60
Expected to vest, Weighted Average Exercise Price per Option	24.71
Option Price Per Share, Granted	0
Option Price Per Share, Exercised	$ 0
Options outstanding, Weighted Average Remaining Contractual Term (years)	6 years 6 months	7 years 1 month 6 days
Exercisable, Weighted Average Remaining Contractual Term (years)	4 years 7 months 6 days
Expected to vest, Weighted Average Remaining Contractual Term (years)	7 years 6 months
Options outstanding, Aggregate Intrinsic Value	$ 7,019	$ 13,367
Exercisable, Aggregate Intrinsic Value	3,356
Expected to vest, Aggregate Intrinsic Value	$ 3,662
Minimum
Schedule of stock options activity
Option Price Per Share, Beginning Balance	$ 12.42
Option Price Per Share, Forfeited	30.34
Option Price Per Share, Ending Balance	12.42	$ 12.42
Maximum
Schedule of stock options activity
Option Price Per Share, Beginning Balance	42.12
Option Price Per Share, Forfeited	42.12
Option Price Per Share, Ending Balance	$ 42.12	$ 42.12

Stock-Based Compensation - Sc_3

Stock-Based Compensation - Schedule of Stock Options Activity (Parenthetical) (Details) - shares	Oct. 31, 2023	Jan. 31, 2023
Share-Based Payment Arrangement [Abstract]
Exercisable	385,215	183,101

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Awards Activity (Details) - Stock Award Units $ / shares in Units, $ in Thousands	9 Months Ended
	Oct. 31, 2023 USD ($) $ / shares shares
Number of Stock Award Units
Stock Award Units, Beginning Balance | shares	294,148
Units granted | shares	300,633
Units vested | shares	(31,739)
Units forfeited | shares	(4,446)
Stock Award Units, Ending Balance | shares	558,596
Weighted Average Grant Date Fair Value
Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares	$ 28.84
Units granted, Weighted Average Grant Date Fair Value | $ / shares	28.6
Units vested, Weighted Average Grant Date Fair Value | $ / shares	32.73
Units forfeited, Weighted Average Grant Date Fair Value | $ / shares	28.78
Weighted Average Grant Date Fair Value Ending Balance | $ / shares	$ 28.49
Weighted-Average Remaining Contractual Term (years)
Units outstanding, Weighted-Average Remaining Contractual Term (years)	1 year 8 months 12 days
Aggregate Intrinsic Value
Units outstanding, Aggregate Intrinsic Value | $	$ 15,562

Segment and Geographic Inform_3

Segment and Geographic Information - Additional Information (Details) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended
	Oct. 31, 2023 USD ($)	Oct. 31, 2022 USD ($)	Jul. 31, 2022 USD ($)	Oct. 31, 2023 USD ($) Segment Location	Oct. 31, 2022 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | Segment				2
Number of geographic locations | Location				2
Net sales	$ 187,686	$ 211,397		$ 492,981	$ 557,625
Intersegment Eliminations
Segment Reporting Information [Line Items]
Net sales	$ 86,800	$ 105,600	$ 303,000	$ 200,300
Geographic Concentration Risk | Europe | Total net sales
Segment Reporting Information [Line Items]
International Operations Contribution	34%	36.70%		31.40%	34.10%
Geographic Concentration Risk | Middle East | Total net sales
Segment Reporting Information [Line Items]
International Operations Contribution	13.30%	0.90%		13.10%	10.10%
Geographic Concentration Risk | Americas (excluding the United States) | Total net sales
Segment Reporting Information [Line Items]
International Operations Contribution	8%	6.80%		9.40%	8.10%
Geographic Concentration Risk | Asia | Total net sales
Segment Reporting Information [Line Items]
International Operations Contribution	3.90%	5.30%		4.20%	4.90%

Segment and Geographic Inform_4

Segment and Geographic Information - Operating Segment Data (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2023	Oct. 31, 2022	Jan. 31, 2023
Operating segment data
Net sales		$ 187,686	$ 211,397	$ 492,981	$ 557,625
Operating Income	[1]	20,692	38,271	41,239	94,222
Total Assets		763,397	775,680	763,397	775,680	$ 787,705
Watch and Accessory Brands
Operating segment data
Net sales		165,139	186,165	424,818	483,836
Operating Income	[1]	18,489	33,626	31,907	78,545
Total Assets		703,253	704,953	703,253	704,953	722,267
Watch and Accessory Brands | Owned brands category
Operating segment data
Net sales		55,416	61,585	149,436	171,449
Watch and Accessory Brands | Licensed brands category
Operating segment data
Net sales		107,355	122,814	272,012	308,190
Watch and Accessory Brands | After-sales service and all other
Operating segment data
Net sales		2,368	1,766	3,370	4,197
Company Stores
Operating segment data
Net sales		22,547	25,232	68,163	73,789
Operating Income	[1]	2,203	4,645	9,332	15,677
Total Assets		$ 60,144	$ 70,727	$ 60,144	$ 70,727	$ 65,438
[1] For both the three months ended October 31, 2023 and 2022, and for both the nine months ended October 31, 2023 and 2022, in the United States locations of the Watch and Accessory Brands segment, operating (loss)/income included a charge of $ 0.1 million and $ 0.2 million, respectively, related to the amortization of intangible assets and deferred compensation associated with the MVMT brand. In addition, in the International locations of the Watch and Accessory Brands segment for the three months ended October 31, 2023 and 2022, and for the nine months ended October 31, 2023 and 2022, operating income included a charge of $ 0.3 million, $ 0.6 million, $ 1.5 million and $ 1.9 million, respectively, related to the amortization of acquired intangible assets as a result of the Company’s acquisition of the Olivia Burton brand.

Segment and Geographic Inform_5

Segment and Geographic Information - Geographic Location Data (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2023	Oct. 31, 2022	Jan. 31, 2023
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales		$ 187,686	$ 211,397	$ 492,981	$ 557,625
Operating Income	[1]	20,692	38,271	41,239	94,222
Total Assets		763,397	775,680	763,397	775,680	$ 787,705
Property, Plant and Equipment, Net		19,458	18,207	19,458	18,207	18,699
United States
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	[2]	76,575	87,350	206,602	238,439
Operating Income	[1],[2]	(5,256)	2,228	(17,928)	6,787
Total Assets		373,812	447,493	373,812	447,493	425,209
Property, Plant and Equipment, Net		12,212	13,087	12,212	13,087	13,422
International
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	[3]	111,111	124,047	286,379	319,186
Operating Income	[1],[3]	25,948	36,043	59,167	87,435
Total Assets		389,585	328,187	389,585	328,187	362,496
Property, Plant and Equipment, Net		$ 7,246	$ 5,120	$ 7,246	$ 5,120	$ 5,277
[1] For both the three months ended October 31, 2023 and 2022, and for both the nine months ended October 31, 2023 and 2022, in the United States locations of the Watch and Accessory Brands segment, operating (loss)/income included a charge of $ 0.1 million and $ 0.2 million, respectively, related to the amortization of intangible assets and deferred compensation associated with the MVMT brand. In addition, in the International locations of the Watch and Accessory Brands segment for the three months ended October 31, 2023 and 2022, and for the nine months ended October 31, 2023 and 2022, operating income included a charge of $ 0.3 million, $ 0.6 million, $ 1.5 million and $ 1.9 million, respectively, related to the amortization of acquired intangible assets as a result of the Company’s acquisition of the Olivia Burton brand. The United States operatin g (loss)/income included $ 14.3 million and $ 16.5 million of unallocated corporate expenses for the three months ended October 31, 2023 and 2022, respectively. The United States operating (loss)/income include d $ 36.0 million and $ 42.5 million of unallocated corporate expenses for the nine months ended October 31, 2023 and 2022, respectively. The International operating income included $ 22.9 million and $ 27.6 million of certain intercompany profits related to the Company’s supply chain operations for the three months ended October 31, 2023 and 2022, respectively. The International operating income included $ 55.4 million and $ 65.5 million of certain intercompany profits related to the Company’s supply chain operations for the nine months ended October 31, 2023 and 2022, respectively.

Segment and Geographic Inform_6

Segment and Geographic Information - Geographic Location Data (Parenthetical) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2023	Oct. 31, 2022
United States
Segment Reporting Information [Line Items]
Unallocated corporate expenses	$ 14.3	$ 16.5	$ 36	$ 42.5
United States | Watch and Accessory Brands | MVMT Watches, Inc.
Segment Reporting Information [Line Items]
Charge related to the amortization of intangible assets	0.1	0.1	0.2	0.2
International
Segment Reporting Information [Line Items]
Profits related to the company's supply chain operations	22.9	27.6	55.4	65.5
International | Watch and Accessory Brands | Olivia Burton Band
Segment Reporting Information [Line Items]
Charge related to the amortization of intangible assets	$ 0.3	$ 0.6	$ 1.5	$ 1.9