Movado (MOV) 10-Q 25 May 17 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Apr. 30, 2017	May 18, 2017
Document Type	10-Q
Amendment Flag	false
Entity Filer Category	Accelerated Filer
Document Period End Date	Apr. 30, 2017
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Trading Symbol	MOV
Entity Registrant Name	MOVADO GROUP INC
Entity Central Index Key	72,573
Current Fiscal Year End Date	--01-31
Common Stock Class Undefined
Entity Common Stock, Shares Outstanding		16,328,703
Class A Common Stock
Entity Common Stock, Shares Outstanding		6,651,950

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands		Apr. 30, 2017	Jan. 31, 2017	Apr. 30, 2016
Current assets:
Cash and cash equivalents		$ 233,594	$ 256,279	$ 203,909
Trade receivables, net		66,457	66,847	75,771
Inventories		160,376	153,167	178,388
Other current assets		32,555	28,487	36,472
Total current assets		492,982	504,780	494,540
Property, plant and equipment, net		31,962	34,173	37,247
Deferred and non-current income taxes		24,864	24,837	20,697
Other non-current assets		45,233	44,012	41,578
Total assets		595,041	607,802	594,062
Current liabilities:
Loans payable to bank, current		5,000	5,000
Accounts payable		22,981	27,192	27,677
Accrued liabilities		37,530	35,061	37,191
Income taxes payable		1,349	4,149	893
Total current liabilities		66,860	71,402	65,761
Loans payable to bank		25,000	25,000	35,000
Deferred and non-current income taxes payable		3,312	3,322	3,008
Other non-current liabilities		35,349	34,085	30,875
Total liabilities		130,521	133,809	134,644
Commitments and contingencies (Note 8)
Equity:
Preferred Stock, $0.01 par value, 5,000,000 shares authorized; no shares issued
Capital in excess of par value		186,628	185,354	180,562
Retained earnings		408,778	415,919	393,113
Accumulated other comprehensive income		74,893	76,780	86,171
Treasury Stock, 10,943,527, 10,869,321 and 10,742,285 shares, respectively, at cost		(206,119)	(204,398)	(201,397)
Total Movado Group, Inc. shareholders' equity		464,520	473,993	458,786
Noncontrolling interests				632
Total equity		464,520	473,993	459,418
Total liabilities and equity		595,041	607,802	594,062
Common Stock Class Undefined
Equity:
Common Stock		273	272	271
Total equity	[1]	273	272	271
Class A Common Stock
Equity:
Common Stock		67	66	66
Total equity	[2]	$ 67	$ 66	$ 66
[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.

CONSOLIDATED BALANCE SHEETS (U3

CONSOLIDATED BALANCE SHEETS (Unaudited) (PARENTHETICAL) - $ / shares	Apr. 30, 2017	Jan. 31, 2017	Apr. 30, 2016
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	10,943,527	10,869,321	10,742,285
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	27,286,230	27,176,656	27,124,011
Common Stock, shares outstanding	27,286,230	27,176,656	27,124,011
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	6,651,950	6,644,105	6,644,105
Common Stock, shares outstanding	6,651,950	6,644,105	6,644,105

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Apr. 30, 2017	Apr. 30, 2016
Income Statement [Abstract]
Net sales		$ 99,265	$ 114,063
Cost of sales		50,128	52,746
Gross profit		49,137	61,317
Selling, general, and administrative		52,785	55,939
Operating (loss) / income	[1]	(3,648)	5,378
Interest expense		(356)	(375)
Interest income		122	57
(Loss) / Income before income taxes		(3,882)	5,060
Provision for income taxes (Note 9)		277	1,723
Net (loss) / income		(4,159)	3,337
Less: Net income attributed to noncontrolling interests			29
Net (loss) / income attributed to Movado Group, Inc.		$ (4,159)	$ 3,308
Basic income per share:
Weighted basic average shares outstanding		23,075,000	23,073,000
Net (loss) / income per share attributed to Movado Group, Inc.		$ (0.18)	$ 0.14
Diluted income per share:
Weighted diluted average shares outstanding		23,075,000	23,349,000
Net (loss) / income per share attributed to Movado Group, Inc.		$ (0.18)	$ 0.14
Dividends declared per share		$ 0.13	$ 0.13
[1]	In the United States and International locations of the Wholesale segment, fiscal 2018 operating (loss) / income included a pre-tax charge of $3.8 million and $2.5 million, respectively, as a result of the Company’s cost savings initiative.

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) / INCOME (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Apr. 30, 2017	Apr. 30, 2016
Comprehensive (loss) / income, net of taxes:
Net (loss) / income including noncontrolling interests		$ (4,159)	$ 3,337
Net unrealized (loss) / gain on investments, net of tax (benefit) of $(6) and $2, respectively		(12)	6
Net change in effective portion of hedging contracts, net of tax (benefit) of $(26) and $(46), respectively		(145)	(232)
Foreign currency translation adjustments	[1]	(1,730)	17,900
Comprehensive (loss) / income including noncontrolling interests		(6,046)	21,011
Less: Comprehensive income attributed to noncontrolling interests			37
Total comprehensive (loss) / income attributed to Movado Group, Inc.		$ (6,046)	$ 20,974
[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.

CONSOLIDATED STATEMENTS OF COM6

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) / INCOME (Unaudited) (PARENTHETICAL) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2017	Apr. 30, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net unrealized (loss) / gain on investments, tax (benefit)	$ (6)	$ 2
Net change in effective portion of hedging contracts, tax (benefit)	$ (26)	$ (46)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2017	Apr. 30, 2016
Cash flows from operating activities:
Net (loss) / income including noncontrolling interests	$ (4,159)	$ 3,337
Adjustments to reconcile net income to net cash (used in) operating activities:
Depreciation and amortization	2,885	2,901
Transactional (gains) / losses	(712)	111
Write-down of inventories	359	359
Deferred income taxes	(64)	69
Stock-based compensation	1,243	2,409
Cost savings initiative	6,334
Changes in assets and liabilities:
Trade receivables	493	(3,603)
Inventories	(7,953)	(11,287)
Other current assets	(3,833)	(4,944)
Accounts payable	(4,155)	(360)
Accrued liabilities	(3,981)	(3,378)
Income taxes payable	(2,800)	(5,595)
Other non-current assets	(1,489)	(3,351)
Other non-current liabilities	1,278	2,248
Net cash (used in) operating activities	(16,554)	(21,084)
Cash flows from investing activities:
Capital expenditures	(397)	(538)
Short-term investment		(156)
Restricted cash deposits		(1,070)
Trademarks and other intangibles	(40)	(226)
Net cash (used in) investing activities	(437)	(1,990)
Cash flows from financing activities:
Repayments of bank borrowings		(5,000)
Stock options exercised and other changes	(692)	(1,204)
Dividends paid	(2,982)	(2,983)
Stock repurchase	(1,028)	(943)
Net cash (used in) financing activities	(4,702)	(10,130)
Effect of exchange rate changes on cash and cash equivalents	(992)	8,925
Net (decrease) in cash and cash equivalents	(22,685)	(24,279)
Cash and cash equivalents at beginning of period	256,279	228,188
Cash and cash equivalents at end of period	$ 233,594	$ 203,909

Basis of Presentation

Basis of Presentation	3 Months Ended
	Apr. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	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, 2017 (the “2017 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, 2017 is derived from the audited annual financial statements, which are included in the Company’s 2017 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.

Reclassifications

Reclassifications	3 Months Ended
	Apr. 30, 2017
Reclassifications [Abstract]
Reclassifications	NOTE 1 – RECLASSIFICATIONS Certain reclassifications were made to prior years’ financial statement amounts and related note disclosures to conform to fiscal 2018 presentation. As a result of the adoption of ASU 2016-09, “Improvements to Employee Share-Based Payment Accounting,” excess tax benefits and deficiencies related to share­based compensation are reported as operating activities in the statement of cash flows.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Apr. 30, 2017
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Abstract]
Fair Value Measurements	NOTE 2 – 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 following tables present the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis (in thousands) as of April 30, 2017 and 2016 and January 31, 2017: Fair Value at April 30, 2017 Balance Sheet Location Level 1 Level 2 Level 3 Total Assets: Available-for-sale securities Other current assets $ 291 $ — $ — $ 291 Short-term investment Other current assets 147 — — 147 SERP assets - employer Other non-current assets 1,241 — — 1,241 SERP assets - employee Other non-current assets 32,421 — — 32,421 Hedge derivatives Other current assets — 205 — 205 Total $ 34,100 $ 205 $ — $ 34,305 Liabilities: SERP liabilities - employee Other non-current liabilities $ 32,421 $ — $ — $ 32,421 Hedge derivatives Accrued liabilities — 162 — 162 Total $ 34,421 $ 162 $ — $ 32,583 Fair Value at January 31, 2017 Balance Sheet Location Level 1 Level 2 Level 3 Total Assets: Available-for-sale securities Other current assets $ 309 $ — $ — $ 309 Short-term investment Other current assets 154 — — 154 SERP assets - employer Other non-current assets 1,091 — — 1,091 SERP assets - employee Other non-current assets 30,831 — — 30,831 Hedge derivatives Other current assets — 145 — 145 Total $ 32,385 $ 145 $ — $ 32,530 Liabilities: SERP liabilities - employee Other non-current liabilities $ 30,831 $ — $ — $ 30,831 Hedge derivatives Accrued liabilities — 211 — 211 Total $ 30,831 $ 211 $ — $ 31,042 Fair Value at April 30, 2016 Balance Sheet Location Level 1 Level 2 Level 3 Total Assets: Available-for-sale securities Other current assets $ 281 $ — $ — $ 281 Short-term investment Other current assets 159 — — 159 SERP assets - employer Other non-current assets 1,185 — — 1,185 SERP assets - employee Other non-current assets 27,073 — — 27,073 Hedge derivatives Other current assets — 719 — 719 Total $ 28,698 $ 719 $ — $ 29,417 Liabilities: SERP liabilities - employee Other non-current liabilities $ 27,073 $ — $ — $ 27,073 Hedge derivatives Accrued liabilities — 199 — 199 Total $ 27,073 $ 199 $ — $ 27,272 The fair values of the Company’s available-for-sale securities are based on quoted 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 are entered into by the Company principally to reduce its exposure to Swiss franc, Euro and Japanese Yen exchange rate risks. Fair values of the Company’s hedge derivatives are calculated based on quoted foreign exchange rates and quoted interest rates. The carrying amount of debt approximated fair value as of April 30, 2017.

Equity

Equity	3 Months Ended
	Apr. 30, 2017
Equity [Abstract]
Equity	NOTE 3 – EQUITY The components of equity for the three months ended April 30, 2017 and 2016 are as follows (in thousands): Movado Group, Inc. Shareholders' Equity Common Stock Class Capital Par Retained Earnings Treasury Stock Accumulated Other Comprehensive Income Noncontrolling Interests Total Balance, January 31, 2017 $ 272 $ 66 $ 185,354 $ 415,919 $ (204,398 ) $ 76,780 $ — $ 473,993 Net (loss) (4,159 ) (4,159 ) Dividends (2,982 ) (2,982 ) Stock repurchase (1,028 ) (1,028 ) Stock options exercised 1 1 (1 ) (693 ) (692 ) Supplemental executive retirement plan 32 32 Stock-based compensation expense 1,243 1,243 Net unrealized loss on investments, net of tax benefit of $6 (12 ) (12 ) Net change in effective portion of hedging contracts, net of tax benefit of $26 (145 ) (145 ) Foreign currency translation adjustment (3) (1,730 ) (1,730 ) Balance, April 30, 2017 $ 273 $ 67 $ 186,628 $ 408,778 $ (206,119 ) $ 74,893 $ — $ 464,520 Common Stock Class Capital Par Retained Earnings Treasury Stock Accumulated Other Comprehensive Income Noncontrolling Interests Total Balance, January 31, 2016 $ 270 $ 66 $ 178,118 $ 392,788 $ (199,195 ) $ 68,505 $ 595 $ 441,147 Net income 3,308 29 3,337 Dividends (2,983 ) (2,983 ) Stock repurchase (943 ) (943 ) Stock options exercised, net of tax of $103 1 (49 ) (1,259 ) (1,307 ) Supplemental executive retirement plan 84 84 Stock-based compensation expense 2,409 2,409 Net unrealized gain on investments, net of tax of $2 6 6 Net change in effective portion of hedging contracts, net of tax benefit of $46 (232 ) (232 ) Foreign currency translation adjustment (3) 17,892 8 17,900 Balance, April 30, 2016 $ 271 $ 66 $ 180,562 $ 393,113 $ (201,397 ) $ 86,171 $ 632 $ 459,418 (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.

Segment and Geographic Informat

Segment and Geographic Information	3 Months Ended
	Apr. 30, 2017
Segment Reporting [Abstract]
Segment and Geographic Information	NOTE 4 – SEGMENT AND GEOGRAPHIC INFORMATION The Company follows accounting guidance which requires disclosure of segment data based on how management makes decisions about allocating resources to segments and measuring their performance. The Company conducts its business in two operating segments: Wholesale and Retail. The Company’s Wholesale segment includes the designing, manufacturing and distribution of watches of quality luxury brands and licensed brands, in addition to revenue generated from after-sales service activities and shipping. The Retail segment includes the Company’s retail outlet locations. 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 Americas (excluding the United States), the Middle East and Asia accounted for 26.6%, 10.4%, 9.8% and 8.1%, respectively, of the Company’s total net sales for the three months ended April 30, 2017. For the three months ended April 30, 2016, the Company’s International operations in Europe, the Americas (excluding the United States), the Middle East and Asia accounted for 23.4%, 10.0%, 8.5% and 5.4%, respectively, of the Company’s total net sales. Operating Segment Data for the Three Months Ended April 30, 2017 and 2016 (in thousands): Net Sales 2017 2016 Wholesale: Luxury brands category $ 33,142 $ 42,036 Licensed brands category 51,369 56,840 After-sales service and all other 2,649 3,082 Total Wholesale 87,160 101,958 Retail 12,105 12,105 Consolidated total $ 99,265 $ 114,063 Operating (Loss) / Income (3) 2017 2016 Wholesale $ (4,488 ) $ 4,569 Retail 840 809 Consolidated total $ (3,648 ) $ 5,378 Total Assets April 30, 2017 January 31, 2017 April 30, 2016 Wholesale $ 570,552 $ 584,518 $ 570,014 Retail 24,489 23,284 24,048 Consolidated total $ 595,041 $ 607,802 $ 594,062 Geographic Location Data for the Three Months Ended April 30, 2017 and 2016 (in thousands): Net Sales Operating (Loss) / Income (3) 2017 2016 2017 2016 United States (1) $ 44,795 $ 60,057 $ (9,781 ) $ (1,393 ) International (2) 54,470 54,006 6,133 6,771 Consolidated total $ 99,265 $ 114,063 $ (3,648 ) $ 5,378 United States and International net sales are net of intercompany sales of $62.3 million and $83.5 million for the three months ended April 30, 2017 and 2016, respectively. (1) The United States operating loss included $6.2 million and $8.8 million of unallocated corporate expenses for the three months ended April 30, 2017 and 2016, respectively. (2) The International operating income included $7.7 million and $7.0 million of certain intercompany profits related to the Company’s supply chain operations for the three months ended April 30, 2017 and 2016, respectively. (3) In the United States and International locations of the Wholesale segment, fiscal 2018 operating (loss) / income included a pre-tax charge of $3.8 million and $2.5 million, respectively, as a result of the Company’s cost savings initiative. Total Assets April 30, 2017 January 31, 2017 April 30, 2016 United States $ 197,507 $ 207,246 $ 209,325 International 397,534 400,556 384,737 Consolidated total $ 595,041 $ 607,802 $ 594,062 Property, Plant and Equipment, Net April 30, 2017 January 31, 2017 April 30, 2016 United States $ 18,224 $ 19,197 $ 22,819 International 13,738 14,976 14,428 Consolidated total $ 31,962 $ 34,173 $ 37,247

Inventories

Inventories	3 Months Ended
	Apr. 30, 2017
Inventory Disclosure [Abstract]
Inventories	NOTE 5 – INVENTORIES Inventories consisted of the following (in thousands): April 30, 2017 January 31, 2017 April 30, 2016 Finished goods $ 119,445 $ 112,297 $ 127,781 Component parts 39,473 38,482 46,543 Work-in-process 1,458 2,388 4,064 $ 160,376 $ 153,167 $ 178,388

Debt and Lines of Credit

Debt and Lines of Credit	3 Months Ended
	Apr. 30, 2017
Debt Disclosure [Abstract]
Debt and Lines of Credit	NOTE 6 – DEBT AND LINES OF CREDIT On January 30, 2015, the Company, together with Movado Group Delaware Holdings Corporation, Movado Retail Group, Inc. and Movado LLC (collectively, the “Borrowers”), each a wholly-owned domestic subsidiary of the Company, entered into a Credit Agreement (the “Credit Agreement”) with the lenders party thereto and Bank of America, N.A. as administrative agent (in such capacity, the “Agent”). The Credit Agreement provides for a $100.0 million senior secured revolving credit facility (the “Facility”) including a $15.0 million letter of credit sub-facility that matures on January 30, 2020, with provisions for uncommitted increases of up to $50.0 million in the aggregate, subject to customary terms and conditions. In connection with the Credit Agreement, the Borrowers also entered into a Security and Pledge Agreement dated as of January 30, 2015 in favor of the Agent (the “Security Agreement”). As of April 30, 2017, $30.0 million in loans were drawn under the Facility. Additionally, approximately $0.3 million in letters of credit, which were outstanding under the Borrower’s pre-existing asset-based revolving credit facility that was concurrently terminated when the Credit Agreement became effective, are deemed to be issued and outstanding under the Facility. As of April 30, 2017, availability under the Facility was approximately $69.7 million. Borrowings under the Facility bear interest at rates selected periodically by the Company at LIBOR plus a spread ranging from 1.25% to 1.75% per annum, based on the Company’s consolidated leverage ratio, or at a base rate plus a spread ranging from 0.25% to 0.75% per annum based on the Company’s consolidated leverage ratio (as defined in the Credit Agreement). At April 30, 2017, the Company’s spreads were 1.25% over LIBOR and 0.25% over the base rate. The Company has also agreed to pay certain fees and expenses and to provide certain indemnities, all of which are customary for such financings. The borrowings under the Facility are joint and several obligations of the Borrowers and are also cross-guaranteed by each Borrower. In addition, pursuant to the Security Agreement, the Borrowers’ obligations under the Facility are secured by first priority liens, subject to permitted liens, on substantially all of the Borrowers’ assets other than certain excluded assets. The Security Agreement contains representations, warranties and covenants, which are customary for pledge and security agreements of this type, relating to the creation and perfection of security interests in favor of the Agent over various categories of the Borrowers’ assets. The Credit Agreement contains affirmative and negative covenants binding on the Borrowers and their 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 Borrowers are also subject to a minimum consolidated EBITDA (as defined in the Credit Agreement) test of $50.0 million, measured at the end of each fiscal quarter based on the four most recent fiscal quarters and a consolidated leverage ratio (as defined in the Credit Agreement) covenant not to exceed 2.50 to 1.00, measured as of the last day of each fiscal quarter. As of April 30, 2017, the Company was in compliance with its covenants under the Credit Agreement. The Credit Agreement contains events of default that are customary for facilities of this type, including, but not limited to, nonpayment of principal, interest, fees and other amounts when due, failure of any representation or warranty to be true in any material respect when made or deemed made, violation of covenants, cross default with material indebtedness, material judgments, material ERISA liability, bankruptcy events, asserted or actual revocation or invalidity of the loan documents, and change of control. As of April 30, 2017, the Company classified $5.0 million of the outstanding balance under the Facility as current based on voluntary payments estimated to be made in the next twelve months, with the remainder classified as long-term debt based on the 2020 maturity date of the Facility and the Company’s intent and ability to refinance its obligations thereunder. As of April 30, 2017, Bank of America, N.A. issued two irrevocable standby letters of credit in connection with retail and operating facility leases to various landlords and for Canadian payroll to the Royal Bank of Canada. As of April 30, 2017, the Company had outstanding letters of credit totaling $0.3 million with expiration dates through April 26, 2018. A Swiss subsidiary of the Company maintains unsecured lines of credit with an unspecified maturity with a Swiss bank. As of April 30, 2017 and 2016, these lines of credit totaled 6.5 million Swiss francs and 5.0 million Swiss francs with a dollar equivalent of $6.5 million and $5.2 million, respectively. As of April 30, 2017 and 2016, there were no borrowings against these lines. As of April 30, 2017, two European banks had guaranteed obligations to third parties on behalf of two of the Company’s foreign subsidiaries in the dollar equivalent of $1.2 million, in various foreign currencies, of which $0.5 million is a restricted deposit as it relates to lease agreements. As of April 30, 2016, two European banks had guaranteed obligations to third parties on behalf of two of the Company’s foreign subsidiaries in the dollar equivalent of $1.0 million in various foreign currencies, of which $0.5 million is a restricted deposit as it relates to lease agreements.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Apr. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 7 – EARNINGS PER SHARE The Company presents net income per share on a basic and diluted basis. Basic earnings per share are computed using weighted-average shares outstanding during the period. Diluted earnings per share are computed using the weighted-average number of shares outstanding adjusted for dilutive common stock equivalents. The weighted-average number of shares outstanding for basic earnings per share was approximately 23,075,000 and 23,073,000 for the three months ended April 30, 2017 and 2016, respectively. For the three months ended April 30, 2017, the number of shares outstanding for diluted earnings per share was the same as the basic earnings per share because the Company generated a net loss. For the three months ended April 30, 2016, the number of shares outstanding for diluted earnings per share increased by approximately 276,000, due to potentially dilutive common stock equivalents issuable under the Company’s stock compensation plans and SERP. For the three months ended April 30, 2017 and 2016, approximately 998,000 and 445,000, respectively, of potentially dilutive common stock equivalents were excluded from the computation of diluted earnings per share because their effect would have been antidilutive.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Apr. 30, 2017
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. The Company sources, distributes, advertises and sells watches 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 additional 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 sheets. 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. As of April 30, 2017, the Company recorded $1.0 million in restricted cash deposits in other current assets on the Company’s Consolidated Balance Sheet, related to a certain vendor agreement. 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 disputes the reasonableness of the Company’s historical allocation formulas and proposes an alternative methodology that would imply approximately $5.1 million in underpaid duties over the five-year period covered by the statute of limitations. The Company believes that U.S. Customs’ alternative duty methodology and estimate are not consistent with the Company’s facts and circumstances and is disputing U.S. Customs’ position. On February 24, 2017, the Company provided U.S. Customs with supplemental analyses and information supporting the Company’s historical allocation formulas and requested a meeting to discuss that information. Although the Company disagrees with U.S. Customs’ position, it cannot predict with any certainty the outcome of this matter. The Company intends to continue to work with U.S. Customs to reach a mutually-satisfactory resolution. 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 and reasonably estimable that a 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 April 30, 2017, 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	3 Months Ended
	Apr. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 9 – INCOME TAXES The Company recorded income tax expense of $0.3 million and $1.7 million for the three months ended April 30, 2017 and 2016, respectively. The effective tax rate was -7.1% and 34.1% for the three months ended April 30, 2017 and 2016, respectively. The change in the effective tax rate was primarily due to the adoption of ASU 2016-09, “Improvements to Employee Share-Based Payment Accounting,” (which requires that excess tax benefits and deficiencies associated with share-based compensation activity be recorded as an income tax expense or benefit in the period the shares vest or are settled. See note 13 for additional disclosures) and no tax benefit being recognized on losses incurred by certain foreign operations. The effective tax rate for the three months ended April 30, 2017 differs from the U.S. statutory tax rate of 35.0% primarily due to the adoption of ASU 2016-09 and no tax being recognized on losses incurred by certain foreign operations. The effective tax rate for the three months ended April 30, 2016 differs from the U.S. statutory tax rate of 35.0% primarily as a result of foreign profits being taxed in lower taxing jurisdictions, partially offset by no tax benefit being recognized on losses incurred by certain foreign operations.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Apr. 30, 2017
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	NOTE 10 – DERIVATIVE FINANCIAL INSTRUMENTS The Company accounts for its derivative financial instruments in accordance with the accounting guidance which requires that an entity recognize all derivatives as either assets or liabilities in the statement of financial position and measure those instruments at fair value. A significant portion of the Company’s purchases are denominated in Swiss francs and, to a lesser extent, the Japanese Yen. The Company also sells to third-party customers in a variety of foreign currencies, most notably the Euro and the British Pound. The Company reduces its exposure to the Swiss franc, Euro, British Pound and Japanese Yen exchange rate risks through a hedging program. Under the hedging program, the Company manages most of its foreign currency exposures on a consolidated basis, which allows it to net certain exposures and take advantage of natural offsets. In the event these exposures do not offset, from time to time the Company uses forward contracts to further reduce the net exposures to currency fluctuations. When entered into, the Company designates and documents these derivative instruments as a cash flow hedge of a specific underlying exposure, as well as the risk management objectives and strategies for undertaking the hedge transactions. Changes in the fair value of a derivative that is designated and documented as a cash flow hedge and is highly effective, are recorded in other comprehensive income until the underlying transaction affects earnings, and then are later reclassified into earnings in the same account as the hedged transaction. The earnings impact is mostly offset by the effects of currency movements on the underlying hedged transactions. The Company formally assesses, both at the inception and at each financial quarter thereafter, the effectiveness of the derivative instrument hedging the underlying forecasted cash flow transaction. The Company does not exclude any designated cash flow hedges from its effectiveness testing. Any ineffectiveness related to the derivative financial instruments’ change in fair value will be recognized as other income in the Consolidated Statements of Operations in the period in which the ineffectiveness was calculated. No ineffectiveness has been recorded in the three months ended April 30, 2017 and 2016. The Company uses forward exchange contracts to offset its exposure to certain foreign currency receivables and liabilities. These forward contracts are not designated as qualified hedges and, therefore, changes in the fair value of these derivatives are recognized in earnings in the period they arise, thereby offsetting the current earnings effect resulting from the revaluation of the related foreign currency receivables and liabilities. All of the Company’s derivative instruments have liquid markets to assess fair value. The Company does not enter into any derivative instruments for trading purposes. As of April 30, 2017, the Company’s entire net forward contracts hedging portfolio consisted of 21.0 million Swiss francs equivalent, 11.7 million Euros equivalent, 5.9 million British Pounds equivalent and 30.0 million Japanese Yen equivalent The following table summarizes the fair value and presentation in the Consolidated Balance Sheets for derivatives (in thousands): Asset Derivatives Liability Derivatives Balance Sheet Location April 30, 2017 Fair Value January 31, 2017 Fair Value April 30, 2016 Fair Value Balance Sheet Location April 30, 2017 Fair Value January 31, 2017 Fair Value April 30, 2016 Fair Value Derivatives not designated as hedging instruments: Foreign Exchange Contracts Other Current Assets $ 200 $ 145 $ 719 Accrued Liabilities $ 6 $ 211 $ 8 Total Derivative Instruments $ 200 $ 145 $ 719 $ 6 $ 211 $ 8 Asset Derivatives Liability Derivatives Balance Sheet Location April 30, 2017 Fair Value January 31, 2017 Fair Value April 30, 2016 Fair Value Balance Sheet Location April 30, 2017 Fair Value January 31, 2017 Fair Value April 30, 2016 Fair Value Derivatives designated as hedging instruments: Foreign Exchange Contracts Other Current Assets $ 5 $ — $ — Accrued Liabilities $ 156 $ — $ 191 Total Derivative Instruments $ 5 $ — $ — $ 156 $ — $ 191 As of April 30, 2017 and 2016, the balance of deferred net losses on derivative financial instruments documented as cash flow hedges included in accumulated other comprehensive income (“AOCI”) was $0.1 million, net of tax benefit of $0.0 million and $0.2 million, net of tax benefit of $0.1 million, respectively. The maximum length of time the Company hedges its exposure to the fluctuation in future cash flows for forecasted transactions is 24 months. For the three months ended April 30, 2017, the Company reclassified amounts from AOCI to earnings that were immaterial. For the three months ended April 30, 2016, the Company reclassified from AOCI to earnings $0.1 million of net loss, net of tax benefit of $0.0 million.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	3 Months Ended
	Apr. 30, 2017
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Accumulated Other Comprehensive Income	NOTE 11 - ACCUMULATED OTHER COMPREHENSIVE INCOME The components of accumulated other comprehensive income consisted of the following (in thousands): Currency Translation Adjustments Available-for-sale securities Hedging Contracts Total Balance, January 31, 2017 $ 76,569 $ 197 $ 14 $ 76,780 Other comprehensive income / (loss) before reclassifications (1,730 ) (12 ) (68 ) (1,810 ) Amounts reclassified from accumulated other comprehensive income (1) — — (77 ) (77) Net current-period other comprehensive (loss) (1,730 ) (12 ) (145 ) (1,887 ) As of April 30, 2017 $ 74,839 $ 185 $ (131 ) $ 74,893 Currency Translation Adjustments Available-for-sale securities Hedging Contracts Total Balance, January 31, 2016 $ 68,265 $ 189 $ 51 $ 68,505 Other comprehensive income / (loss) before reclassifications 17,892 6 (106 ) 17,792 Amounts reclassified from accumulated other comprehensive income (1) — — (126 ) (126 ) Net current-period other comprehensive income / (loss) 17,892 6 (232 ) 17,666 As of April 30, 2016 $ 86,157 $ 195 $ (181 ) $ 86,171 (1) Amounts reclassified to earnings in the Consolidated Statements of Operations.

Treasury Stock

Treasury Stock	3 Months Ended
	Apr. 30, 2017
Equity [Abstract]
Treasury Stock	NOTE 12 – TREASURY STOCK On March 31, 2016, the Board approved a share repurchase program under which the Company is authorized to purchase up to $50.0 million of its outstanding common stock from time to time, depending on market conditions, share price and other factors. The Company may purchase shares of its common stock through open market purchases, repurchase plans, block trades or otherwise. This authorization expires on September 30, 2017. During the three months ended April 30, 2017, the Company repurchased a total of 44,000 shares of its common stock at a total cost of approximately $1.0 million or an average cost of $23.37 per share, which included 20,000 shares repurchased from the Movado Group Foundation at a total cost of approximately $0.5 million or $22.90 average per share. During the three months ended April 30, 2016, the Company repurchased a total of 34,000 shares of its common stock at a total cost of approximately $0.9 million or an average cost of $27.74 per share, which included 15,000 shares repurchased from the Movado Group Foundation at a total cost of approximately $0.4 million or $27.67 average per share. There were 30,206 and 43,773 shares of common stock repurchased during the three months ended April 30, 2017 and 2016, respectively, as a result of the surrender of shares in connection with the vesting of certain stock awards. 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 to fund the payment of such taxes.

Accounting Changes and Recent A

Accounting Changes and Recent Accounting Pronouncements	3 Months Ended
	Apr. 30, 2017
Accounting Changes And Error Corrections [Abstract]
Accounting Changes and Recent Accounting Pronouncements	NOTE 13 – ACCOUNTING CHANGES AND RECENT ACCOUNTING PRONOUNCEMENTS On March 30, 2016, FASB issued ASU 2016-09, “Improvements to Employee Share-Based Payment Accounting,” On February 25, 2016, FASB issued ASU 2016-02, “Leases,” which requires lessees to recognize most leases on the balance sheet. This change is expected to increase both reported assets and liabilities. The new lease standard does not substantially change lessor accounting. For public companies, the standard will be effective for the first interim reporting period within annual periods beginning after December 15, 2018, although early adoption is permitted. Lessees and lessors will be required to apply the new standard at the beginning of the earliest period presented in the financial statements in which they first apply the new guidance, using a modified retrospective transition method. The requirements of this standard include a significant increase in required disclosures. The Company is analyzing the impact of the adoption of this guidance on the Company’s consolidated financial statements, including assessing changes that might be necessary to information technology systems, processes and internal controls to capture new data and address changes in financial reporting. On May 28, 2014, FASB issued ASU 2014-09, “Revenue from Contracts with Customers.” This pronouncement affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets, unless those contracts are within the scope of other standards (for example, insurance contracts or lease contracts). The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In July 2015, FASB deferred the effective date of the guidance. The new revenue standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017 and allows either a full retrospective adoption to all periods presented or a modified retrospective adoption approach with the cumulative effect of initial application of the revised guidance recognized at the date of initial application. Early adoption is permitted for periods beginning after December 15, 2016. On March 30, 2016, FASB issued ASU 2016-08, “Revenue from Contracts with Customers (Principal versus Agent Considerations),” to clarify the implementation guidance on principal versus agent considerations. On April 14, 2016, FASB issued ASU 2016-10, “Revenue from Contracts with Customers (Identifying Performance Obligations and Licensing),” to clarify the implementation guidance on identifying performance obligations and accounting for licenses of intellectual property. On May 9, 2016, FASB issued ASU 2016-12, “Revenue from Contracts with Customers (Narrow-Scope Improvements and Practical Expedients),” to clarify the implementation guidance on assessing collectability, presentation of sales taxes, noncash consideration and completed contracts and contract modifications at transition. The Company is assessing the impact of the guidance on its customer agreements by reviewing its current accounting policies and practices to identify potential differences that would result from applying the new requirements to its existing agreements, including evaluation of its performance obligations, return policy, customer payments and principal versus agent consideration. The Company will continue evaluating the impact, if any, on changes to the business processes, systems and controls to support recognition and disclosure under the new guidance. The Company is still evaluating the impact of the adoption of this guidance on the Company’s consolidated financial statements. The Company expects to adopt the new guidance in the beginning of fiscal 2019.

Operating Efficiency Initiative

Operating Efficiency Initiatives and Other Items	3 Months Ended
	Apr. 30, 2017
Restructuring And Related Activities [Abstract]
Operating Efficiency Initiatives and Other Items	NOTE 14 – OPERATING EFFICIENCY INITIATIVES AND OTHER ITEMS In fiscal 2016, the Company commenced an initiative to achieve greater operating efficiencies and streamline its operations, primarily at certain of its foreign subsidiaries. In the first quarter of fiscal 2016, the Company recorded $2.7 million of pre-tax expenses primarily for severance, occupancy charges, and fixed assets. In the fourth quarter of fiscal 2016, the Company recorded an additional pre-tax charge of $1.3 million primarily related to severance and the write-off of unamortized shop-in-shops with no expected future value. The Company substantially completed the actions under this initiative as of January 31, 2016. A summary rollforward of costs related to the operating efficiency initiatives and other items is as follows (in thousands): Balance at January 31, 2017 Cash payments Foreign exchange Accrued balance at April 30, 2017 Severance $ 78 $ (1 ) $ (4 ) $ 73 Occupancy charges 330 (32 ) (14 ) 284 Total $ 408 $ (33 ) $ (18 ) $ 357

Cost Savings Initiatives

Cost Savings Initiatives	3 Months Ended
	Apr. 30, 2017
Restructuring And Related Activities [Abstract]
Cost Savings Initiatives	NOTE 15 – COST SAVINGS INITIATIVES As a result of actions taken by the Company in fiscal 2018 to better align its global infrastructure with the current business environment by consolidating certain operations and streamlining functions to reduce costs and improve profitability, the Company recorded $6.3 million of pre-tax expenses primarily for severance and payroll related, other and occupancy charges, predominantly impacting the Company’s North American and Swiss operations. The Company expects the cost savings initiatives to be substantially completed by the end of fiscal 2018. A summary rollforward of costs related to the cost savings initiatives is as follows (in thousands): Fiscal 2018 Charges (2) Cash payments Non-cash adjustments Foreign exchange Accrued balance at April 30, 2017 Severance and payroll related (1) $ 5,943 $ (489 ) $ (125 ) $ 2 $ 5,331 Other (1) 292 (1 ) (5 ) 1 287 Occupancy charges (1) 99 — — — 99 Total $ 6,334 $ (490 ) $ (130 ) $ 3 $ 5,717 (1) The total severance and payroll related charges of $5.9 million include $4.5 million in SG&A and $1.4 million in Cost of Sales in the Consolidated Statement of Operations for the three months ended April 30, 2017. The other charges of $0.3 million and occupancy charges of $0.1 million are included in SG&A in the Consolidated Statement of Operations for the three months ended April 30, 2017. ( 2 ) The United States and International locations of the Wholesale segment include a pre-tax charge of $3.8 million and $2.5 million, respectively.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Apr. 30, 2017
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 (in thousands) as of April 30, 2017 and 2016 and January 31, 2017: Fair Value at April 30, 2017 Balance Sheet Location Level 1 Level 2 Level 3 Total Assets: Available-for-sale securities Other current assets $ 291 $ — $ — $ 291 Short-term investment Other current assets 147 — — 147 SERP assets - employer Other non-current assets 1,241 — — 1,241 SERP assets - employee Other non-current assets 32,421 — — 32,421 Hedge derivatives Other current assets — 205 — 205 Total $ 34,100 $ 205 $ — $ 34,305 Liabilities: SERP liabilities - employee Other non-current liabilities $ 32,421 $ — $ — $ 32,421 Hedge derivatives Accrued liabilities — 162 — 162 Total $ 34,421 $ 162 $ — $ 32,583 Fair Value at January 31, 2017 Balance Sheet Location Level 1 Level 2 Level 3 Total Assets: Available-for-sale securities Other current assets $ 309 $ — $ — $ 309 Short-term investment Other current assets 154 — — 154 SERP assets - employer Other non-current assets 1,091 — — 1,091 SERP assets - employee Other non-current assets 30,831 — — 30,831 Hedge derivatives Other current assets — 145 — 145 Total $ 32,385 $ 145 $ — $ 32,530 Liabilities: SERP liabilities - employee Other non-current liabilities $ 30,831 $ — $ — $ 30,831 Hedge derivatives Accrued liabilities — 211 — 211 Total $ 30,831 $ 211 $ — $ 31,042 Fair Value at April 30, 2016 Balance Sheet Location Level 1 Level 2 Level 3 Total Assets: Available-for-sale securities Other current assets $ 281 $ — $ — $ 281 Short-term investment Other current assets 159 — — 159 SERP assets - employer Other non-current assets 1,185 — — 1,185 SERP assets - employee Other non-current assets 27,073 — — 27,073 Hedge derivatives Other current assets — 719 — 719 Total $ 28,698 $ 719 $ — $ 29,417 Liabilities: SERP liabilities - employee Other non-current liabilities $ 27,073 $ — $ — $ 27,073 Hedge derivatives Accrued liabilities — 199 — 199 Total $ 27,073 $ 199 $ — $ 27,272

Equity (Tables)

Equity (Tables)	3 Months Ended
	Apr. 30, 2017
Equity [Abstract]
Components of Equity	The components of equity for the three months ended April 30, 2017 and 2016 are as follows (in thousands): Movado Group, Inc. Shareholders' Equity Common Stock Class Capital Par Retained Earnings Treasury Stock Accumulated Other Comprehensive Income Noncontrolling Interests Total Balance, January 31, 2017 $ 272 $ 66 $ 185,354 $ 415,919 $ (204,398 ) $ 76,780 $ — $ 473,993 Net (loss) (4,159 ) (4,159 ) Dividends (2,982 ) (2,982 ) Stock repurchase (1,028 ) (1,028 ) Stock options exercised 1 1 (1 ) (693 ) (692 ) Supplemental executive retirement plan 32 32 Stock-based compensation expense 1,243 1,243 Net unrealized loss on investments, net of tax benefit of $6 (12 ) (12 ) Net change in effective portion of hedging contracts, net of tax benefit of $26 (145 ) (145 ) Foreign currency translation adjustment (3) (1,730 ) (1,730 ) Balance, April 30, 2017 $ 273 $ 67 $ 186,628 $ 408,778 $ (206,119 ) $ 74,893 $ — $ 464,520 Common Stock Class Capital Par Retained Earnings Treasury Stock Accumulated Other Comprehensive Income Noncontrolling Interests Total Balance, January 31, 2016 $ 270 $ 66 $ 178,118 $ 392,788 $ (199,195 ) $ 68,505 $ 595 $ 441,147 Net income 3,308 29 3,337 Dividends (2,983 ) (2,983 ) Stock repurchase (943 ) (943 ) Stock options exercised, net of tax of $103 1 (49 ) (1,259 ) (1,307 ) Supplemental executive retirement plan 84 84 Stock-based compensation expense 2,409 2,409 Net unrealized gain on investments, net of tax of $2 6 6 Net change in effective portion of hedging contracts, net of tax benefit of $46 (232 ) (232 ) Foreign currency translation adjustment (3) 17,892 8 17,900 Balance, April 30, 2016 $ 271 $ 66 $ 180,562 $ 393,113 $ (201,397 ) $ 86,171 $ 632 $ 459,418 (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.

Segment and Geographic Inform26

Segment and Geographic Information (Tables)	3 Months Ended
	Apr. 30, 2017
Segment Reporting [Abstract]
Operating Segment Data	Operating Segment Data for the Three Months Ended April 30, 2017 and 2016 (in thousands): Net Sales 2017 2016 Wholesale: Luxury brands category $ 33,142 $ 42,036 Licensed brands category 51,369 56,840 After-sales service and all other 2,649 3,082 Total Wholesale 87,160 101,958 Retail 12,105 12,105 Consolidated total $ 99,265 $ 114,063 Operating (Loss) / Income (3) 2017 2016 Wholesale $ (4,488 ) $ 4,569 Retail 840 809 Consolidated total $ (3,648 ) $ 5,378 Total Assets April 30, 2017 January 31, 2017 April 30, 2016 Wholesale $ 570,552 $ 584,518 $ 570,014 Retail 24,489 23,284 24,048 Consolidated total $ 595,041 $ 607,802 $ 594,062
Geographic Segment Data	Geographic Location Data for the Three Months Ended April 30, 2017 and 2016 (in thousands): Net Sales Operating (Loss) / Income (3) 2017 2016 2017 2016 United States (1) $ 44,795 $ 60,057 $ (9,781 ) $ (1,393 ) International (2) 54,470 54,006 6,133 6,771 Consolidated total $ 99,265 $ 114,063 $ (3,648 ) $ 5,378 United States and International net sales are net of intercompany sales of $62.3 million and $83.5 million for the three months ended April 30, 2017 and 2016, respectively. (1) The United States operating loss included $6.2 million and $8.8 million of unallocated corporate expenses for the three months ended April 30, 2017 and 2016, respectively. (2) The International operating income included $7.7 million and $7.0 million of certain intercompany profits related to the Company’s supply chain operations for the three months ended April 30, 2017 and 2016, respectively. (3) In the United States and International locations of the Wholesale segment, fiscal 2018 operating (loss) / income included a pre-tax charge of $3.8 million and $2.5 million, respectively, as a result of the Company’s cost savings initiative. Total Assets April 30, 2017 January 31, 2017 April 30, 2016 United States $ 197,507 $ 207,246 $ 209,325 International 397,534 400,556 384,737 Consolidated total $ 595,041 $ 607,802 $ 594,062 Property, Plant and Equipment, Net April 30, 2017 January 31, 2017 April 30, 2016 United States $ 18,224 $ 19,197 $ 22,819 International 13,738 14,976 14,428 Consolidated total $ 31,962 $ 34,173 $ 37,247

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Apr. 30, 2017
Inventory Disclosure [Abstract]
Components of Inventories	Inventories consisted of the following (in thousands): April 30, 2017 January 31, 2017 April 30, 2016 Finished goods $ 119,445 $ 112,297 $ 127,781 Component parts 39,473 38,482 46,543 Work-in-process 1,458 2,388 4,064 $ 160,376 $ 153,167 $ 178,388

Derivative Financial Instrume28

Derivative Financial Instruments (Tables)	3 Months Ended
	Apr. 30, 2017
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Fair Value and Presentation of Derivatives	The following table summarizes the fair value and presentation in the Consolidated Balance Sheets for derivatives (in thousands): Asset Derivatives Liability Derivatives Balance Sheet Location April 30, 2017 Fair Value January 31, 2017 Fair Value April 30, 2016 Fair Value Balance Sheet Location April 30, 2017 Fair Value January 31, 2017 Fair Value April 30, 2016 Fair Value Derivatives not designated as hedging instruments: Foreign Exchange Contracts Other Current Assets $ 200 $ 145 $ 719 Accrued Liabilities $ 6 $ 211 $ 8 Total Derivative Instruments $ 200 $ 145 $ 719 $ 6 $ 211 $ 8 Asset Derivatives Liability Derivatives Balance Sheet Location April 30, 2017 Fair Value January 31, 2017 Fair Value April 30, 2016 Fair Value Balance Sheet Location April 30, 2017 Fair Value January 31, 2017 Fair Value April 30, 2016 Fair Value Derivatives designated as hedging instruments: Foreign Exchange Contracts Other Current Assets $ 5 $ — $ — Accrued Liabilities $ 156 $ — $ 191 Total Derivative Instruments $ 5 $ — $ — $ 156 $ — $ 191

Accumulated Other Comprehensi29

Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Apr. 30, 2017
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Schedule of Components of Accumulated Other Comprehensive Income	The components of accumulated other comprehensive income consisted of the following (in thousands): Currency Translation Adjustments Available-for-sale securities Hedging Contracts Total Balance, January 31, 2017 $ 76,569 $ 197 $ 14 $ 76,780 Other comprehensive income / (loss) before reclassifications (1,730 ) (12 ) (68 ) (1,810 ) Amounts reclassified from accumulated other comprehensive income (1) — — (77 ) (77) Net current-period other comprehensive (loss) (1,730 ) (12 ) (145 ) (1,887 ) As of April 30, 2017 $ 74,839 $ 185 $ (131 ) $ 74,893 Currency Translation Adjustments Available-for-sale securities Hedging Contracts Total Balance, January 31, 2016 $ 68,265 $ 189 $ 51 $ 68,505 Other comprehensive income / (loss) before reclassifications 17,892 6 (106 ) 17,792 Amounts reclassified from accumulated other comprehensive income (1) — — (126 ) (126 ) Net current-period other comprehensive income / (loss) 17,892 6 (232 ) 17,666 As of April 30, 2016 $ 86,157 $ 195 $ (181 ) $ 86,171 (1) Amounts reclassified to earnings in the Consolidated Statements of Operations.

Operating Efficiency Initiati30

Operating Efficiency Initiatives and Other Items (Tables)	3 Months Ended
	Apr. 30, 2017
Restructuring And Related Activities [Abstract]
Summary of Costs Related to Operating Efficiency Initiatives and Other Items	A summary rollforward of costs related to the operating efficiency initiatives and other items is as follows (in thousands): Balance at January 31, 2017 Cash payments Foreign exchange Accrued balance at April 30, 2017 Severance $ 78 $ (1 ) $ (4 ) $ 73 Occupancy charges 330 (32 ) (14 ) 284 Total $ 408 $ (33 ) $ (18 ) $ 357

Cost Savings Initiatives (Table

Cost Savings Initiatives (Tables)	3 Months Ended
	Apr. 30, 2017
Restructuring And Related Activities [Abstract]
Summary of Costs Related to Cost Savings Initiatives	A summary rollforward of costs related to the cost savings initiatives is as follows (in thousands): Fiscal 2018 Charges (2) Cash payments Non-cash adjustments Foreign exchange Accrued balance at April 30, 2017 Severance and payroll related (1) $ 5,943 $ (489 ) $ (125 ) $ 2 $ 5,331 Other (1) 292 (1 ) (5 ) 1 287 Occupancy charges (1) 99 — — — 99 Total $ 6,334 $ (490 ) $ (130 ) $ 3 $ 5,717 (1) The total severance and payroll related charges of $5.9 million include $4.5 million in SG&A and $1.4 million in Cost of Sales in the Consolidated Statement of Operations for the three months ended April 30, 2017. The other charges of $0.3 million and occupancy charges of $0.1 million are included in SG&A in the Consolidated Statement of Operations for the three months ended April 30, 2017. ( 2 ) The United States and International locations of the Wholesale segment include a pre-tax charge of $3.8 million and $2.5 million, respectively.

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Apr. 30, 2017	Jan. 31, 2017	Apr. 30, 2016
Assets:
Total assets measured at fair value	$ 34,305	$ 32,530	$ 29,417
Liabilities:
Total liabilities measured at fair value	32,583	31,042	27,272
Level 1
Assets:
Total assets measured at fair value	34,100	32,385	28,698
Liabilities:
Total liabilities measured at fair value	34,421	30,831	27,073
Level 2
Assets:
Total assets measured at fair value	205	145	719
Liabilities:
Total liabilities measured at fair value	162	211	199
Other Current Assets | Available-for-sale securities
Assets:
Total assets measured at fair value	291	309	281
Other Current Assets | Short-term investment
Assets:
Total assets measured at fair value	147	154	159
Other Current Assets | Hedge derivatives-Assets
Assets:
Total assets measured at fair value	205	145	719
Other Current Assets | Level 1 | Available-for-sale securities
Assets:
Total assets measured at fair value	291	309	281
Other Current Assets | Level 1 | Short-term investment
Assets:
Total assets measured at fair value	147	154	159
Other Current Assets | Level 2 | Hedge derivatives-Assets
Assets:
Total assets measured at fair value	205	145	719
Other non-current assets | SERP assets - employer
Assets:
Total assets measured at fair value	1,241	1,091	1,185
Other non-current assets | SERP assets - employee
Assets:
Total assets measured at fair value	32,421	30,831	27,073
Other non-current assets | Level 1 | SERP assets - employer
Assets:
Total assets measured at fair value	1,241	1,091	1,185
Other non-current assets | Level 1 | SERP assets - employee
Assets:
Total assets measured at fair value	32,421	30,831	27,073
Other non-current liabilities | SERP liabilities - employee
Liabilities:
Total liabilities measured at fair value	32,421	30,831	27,073
Other non-current liabilities | Level 1 | SERP liabilities - employee
Liabilities:
Total liabilities measured at fair value	32,421	30,831	27,073
Accrued Liabilities | Hedge derivatives-Liabilities
Liabilities:
Total liabilities measured at fair value	162	211	199
Accrued Liabilities | Level 2 | Hedge derivatives-Liabilities
Liabilities:
Total liabilities measured at fair value	$ 162	$ 211	$ 199

Fair Value Measurements (Deta33

Fair Value Measurements (Details Textual)	3 Months Ended
	Apr. 30, 2017
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

Equity (Details)

Equity (Details) - USD ($) $ in Thousands		3 Months Ended
		Apr. 30, 2017	Apr. 30, 2016
Beginning Balance		$ 473,993	$ 441,147
Net income (loss)		(4,159)	3,337
Dividends		(2,982)	(2,983)
Stock repurchase		(1,028)	(943)
Stock options exercised		(692)
Stock options exercised, net of tax			(1,307)
Supplemental executive retirement plan		32	84
Stock-based compensation expense		1,243	2,409
Net unrealized gain (loss) on investments, net of tax (benefit)		(12)	6
Net change in effective portion of hedging contracts, net of tax benefit		(145)	(232)
Foreign currency translation adjustments	[1]	(1,730)	17,900
Ending Balance		464,520	459,418
Common Stock Class Undefined
Beginning Balance	[2]	272	270
Stock options exercised	[2]	1
Stock options exercised, net of tax	[2]		1
Ending Balance	[2]	273	271
Class A Common Stock
Beginning Balance	[3]	66	66
Stock options exercised	[3]	1
Ending Balance	[3]	67	66
Capital in Excess of Par Value
Beginning Balance		185,354	178,118
Stock options exercised		(1)
Stock options exercised, net of tax			(49)
Supplemental executive retirement plan		32	84
Stock-based compensation expense		1,243	2,409
Ending Balance		186,628	180,562
Retained Earnings
Beginning Balance		415,919	392,788
Net income (loss)		(4,159)	3,308
Dividends		(2,982)	(2,983)
Ending Balance		408,778	393,113
Treasury Stock
Beginning Balance		(204,398)	(199,195)
Stock repurchase		(1,028)	(943)
Stock options exercised		(693)
Stock options exercised, net of tax			(1,259)
Ending Balance		(206,119)	(201,397)
Accumulated Other Comprehensive Income
Beginning Balance		76,780	68,505
Net unrealized gain (loss) on investments, net of tax (benefit)		(12)	6
Net change in effective portion of hedging contracts, net of tax benefit		(145)	(232)
Foreign currency translation adjustments	[1]	(1,730)	17,892
Ending Balance		$ 74,893	86,171
Noncontrolling Interests
Beginning Balance			595
Net income (loss)			29
Foreign currency translation adjustments	[1]		8
Ending Balance			$ 632
[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.
[2]	Each share of common stock is entitled to one vote per share on all matters submitted to a vote of the shareholders.
[3]	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 (Details) (Parenthetical

Equity (Details) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2017	Apr. 30, 2016
Stock options exercised, tax		$ 103
Net unrealized gain (loss) on investments, tax (benefit)	$ (6)	2
Net change in effective portion of hedging contracts, tax (benefit)	$ 26	$ 46
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, 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, Conversion basis	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.

Segment and Geographic Inform36

Segment and Geographic Information (Details Textual) $ in Thousands		3 Months Ended
		Apr. 30, 2017USD ($)SegmentLocation	Apr. 30, 2016USD ($)	Jan. 31, 2016USD ($)	Apr. 30, 2015USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | Segment		2
Number of geographic locations | Location		2
Net sales		$ 99,265	$ 114,063
Unallocated corporate expenses		6,200	8,800
Profits related to the company's supply chain operations		7,700	7,000
Pre-tax charges				$ 1,300	$ 2,700
Wholesale
Segment Reporting Information [Line Items]
Net sales		87,160	101,958
Intersegment Eliminations
Segment Reporting Information [Line Items]
Net sales		62,300	83,500
United States
Segment Reporting Information [Line Items]
Net sales	[1]	44,795	60,057
United States | Wholesale | Cost Savings Initiatives
Segment Reporting Information [Line Items]
Pre-tax charges		3,800
International
Segment Reporting Information [Line Items]
Net sales	[2]	54,470	$ 54,006
International | Wholesale | Cost Savings Initiatives
Segment Reporting Information [Line Items]
Pre-tax charges		$ 2,500
Geographic Concentration Risk | Europe | Total net sales
Segment Reporting Information [Line Items]
International Operations Contribution		26.60%	23.40%
Geographic Concentration Risk | the Americas (excluding the United States) | Total net sales
Segment Reporting Information [Line Items]
International Operations Contribution		10.40%	10.00%
Geographic Concentration Risk | Middle East | Total net sales
Segment Reporting Information [Line Items]
International Operations Contribution		9.80%	8.50%
Geographic Concentration Risk | Asia | Total net sales
Segment Reporting Information [Line Items]
International Operations Contribution		8.10%	5.40%
[1]	The United States operating loss included $6.2 million and $8.8 million of unallocated corporate expenses for the three months ended April 30, 2017 and 2016, respectively.
[2]	The International operating income included $7.7 million and $7.0 million of certain intercompany profits related to the Company’s supply chain operations for the three months ended April 30, 2017 and 2016, respectively.

Segment and Geographic Inform37

Segment and Geographic Information (Details) - USD ($) $ in Thousands		3 Months Ended
		Apr. 30, 2017	Apr. 30, 2016	Jan. 31, 2017
Operating segment data
Net sales		$ 99,265	$ 114,063
Operating (Loss) / Income	[1]	(3,648)	5,378
Total Assets		595,041	594,062	$ 607,802
Wholesale
Operating segment data
Net sales		87,160	101,958
Operating (Loss) / Income	[1]	(4,488)	4,569
Total Assets		570,552	570,014	584,518
Wholesale | Luxury brands category
Operating segment data
Net sales		33,142	42,036
Wholesale | Licensed brands category
Operating segment data
Net sales		51,369	56,840
Wholesale | After-sales service and all other
Operating segment data
Net sales		2,649	3,082
Retail
Operating segment data
Net sales		12,105	12,105
Operating (Loss) / Income	[1]	840	809
Total Assets		$ 24,489	$ 24,048	$ 23,284
[1]	In the United States and International locations of the Wholesale segment, fiscal 2018 operating (loss) / income included a pre-tax charge of $3.8 million and $2.5 million, respectively, as a result of the Company’s cost savings initiative.

Segment and Geographic Inform38

Segment and Geographic Information (Details 1) - USD ($) $ in Thousands		3 Months Ended
		Apr. 30, 2017	Apr. 30, 2016	Jan. 31, 2017
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales		$ 99,265	$ 114,063
Operating (Loss) / Income	[1]	(3,648)	5,378
Total Assets		595,041	594,062	$ 607,802
Property, Plant and Equipment, Net		31,962	37,247	34,173
United States
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	[2]	44,795	60,057
Operating (Loss) / Income	[1],[2]	(9,781)	(1,393)
Total Assets		197,507	209,325	207,246
Property, Plant and Equipment, Net		18,224	22,819	19,197
International
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	[3]	54,470	54,006
Operating (Loss) / Income	[1],[3]	6,133	6,771
Total Assets		397,534	384,737	400,556
Property, Plant and Equipment, Net		$ 13,738	$ 14,428	$ 14,976
[1]	In the United States and International locations of the Wholesale segment, fiscal 2018 operating (loss) / income included a pre-tax charge of $3.8 million and $2.5 million, respectively, as a result of the Company’s cost savings initiative.
[2]	The United States operating loss included $6.2 million and $8.8 million of unallocated corporate expenses for the three months ended April 30, 2017 and 2016, respectively.
[3]	The International operating income included $7.7 million and $7.0 million of certain intercompany profits related to the Company’s supply chain operations for the three months ended April 30, 2017 and 2016, respectively.

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Apr. 30, 2017	Jan. 31, 2017	Apr. 30, 2016
Inventory Net [Abstract]
Finished goods	$ 119,445	$ 112,297	$ 127,781
Component parts	39,473	38,482	46,543
Work-in-process	1,458	2,388	4,064
Inventories	$ 160,376	$ 153,167	$ 178,388

Debt and Lines of Credit (Detai

Debt and Lines of Credit (Details Textual)	3 Months Ended
	Apr. 30, 2017USD ($)CreditFacilityBankSubsidiary	Apr. 30, 2017CHF (SFr)CreditFacilityBankSubsidiary	Jan. 31, 2017USD ($)	Apr. 30, 2016USD ($)BankSubsidiary	Apr. 30, 2016CHF (SFr)BankSubsidiary	Jan. 30, 2015USD ($)
Debt Instrument [Line Items]
Outstanding balance under facility, current	$ 5,000,000		$ 5,000,000
Number of issued standby letter of credit | CreditFacility	2	2
Minimum
Debt Instrument [Line Items]
Consolidated Earnings Before Interest Tax Depreciation And Amortization	$ 50,000,000
Secured Debt | Credit Agreement Due on January 30, 2020
Debt Instrument [Line Items]
Letter of credit outstanding amount	$ 300,000
Secured Debt | Credit Agreement Due on January 30, 2020 | Maximum
Debt Instrument [Line Items]
Consolidated leverage ratio	2.50%	2.50%
Unsecured Debt | Swiss subsidiary
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 6,500,000	SFr 6,500,000		$ 5,200,000	SFr 5,000,000
Outstanding borrowing amount	$ 0			$ 0
Revolving Credit Facility | Secured Debt | Credit Agreement Due on January 30, 2020
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	Jan. 30, 2020
Loan drawn under the facility	$ 30,000,000
Line of credit facility remaining borrowing capacity	69,700,000
Outstanding balance under facility, current	$ 5,000,000
Revolving Credit Facility | Secured Debt | Credit Agreement Due on January 30, 2020 | LIBOR
Debt Instrument [Line Items]
Applicable margin rate	1.25%
Revolving Credit Facility | Secured Debt | Credit Agreement Due on January 30, 2020 | LIBOR | Minimum
Debt Instrument [Line Items]
Applicable margin rate	1.25%
Revolving Credit Facility | Secured Debt | Credit Agreement Due on January 30, 2020 | LIBOR | Maximum
Debt Instrument [Line Items]
Applicable margin rate	1.75%
Revolving Credit Facility | Secured Debt | Credit Agreement Due on January 30, 2020 | Base Rate
Debt Instrument [Line Items]
Applicable margin rate	0.25%
Revolving Credit Facility | Secured Debt | Credit Agreement Due on January 30, 2020 | Base Rate | Minimum
Debt Instrument [Line Items]
Applicable margin rate	0.25%
Revolving Credit Facility | Secured Debt | Credit Agreement Due on January 30, 2020 | Base Rate | Maximum
Debt Instrument [Line Items]
Applicable margin rate	0.75%
Letter of Credit
Debt Instrument [Line Items]
Credit facility matures date	Apr. 26, 2018
Outstanding borrowing amount	$ 300,000
Letter of Credit | Secured Debt | Credit Agreement Due on January 30, 2020
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity						$ 15,000,000
Line of Credit | Unsecured Debt | Swiss subsidiary
Debt Instrument [Line Items]
Number of European banks guaranteed obligations to third parties | Bank	2	2		2	2
Number of foreign subsidiaries under guaranteed obligation | Subsidiary	2	2		2	2
Guaranteed obligations to third parties	$ 1,200,000			$ 1,000,000
Restricted deposit relates to lease agreement	$ 500,000			$ 500,000

Earnings Per Share (Details Tex

Earnings Per Share (Details Textual) - shares	3 Months Ended
	Apr. 30, 2017	Apr. 30, 2016
Earnings Per Share [Abstract]
Weighted basic average shares outstanding	23,075,000	23,073,000
Increase in number of shares outstanding for diluted earnings per share		276,000
Dilutive common stock equivalents were excluded from the computation of diluted earnings per share	998,000	445,000

Commitments and Contingencies (

Commitments and Contingencies (Details Textual) - USD ($) $ in Millions	1 Months Ended
	Dec. 31, 2016	Apr. 30, 2017
Loss Contingencies [Line Items]
Underpaid duty charges due to alternative duty methodology	$ 5.1
Underpaid duty methodology period covered by statute of limitation	5 years
Other Current Assets
Loss Contingencies [Line Items]
Restricted cash deposits		$ 1

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2017	Apr. 30, 2016
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 277	$ 1,723
Effective tax rate for continuing operations	(7.10%)	34.10%
U.S. statutory tax rate	35.00%	35.00%

Derivative Financial Instrume44

Derivative Financial Instruments (Details Textual) $ in Thousands		3 Months Ended
		Apr. 30, 2017USD ($)	Apr. 30, 2016USD ($)	Apr. 30, 2017CHF (SFr)	Apr. 30, 2017EUR (€)	Apr. 30, 2017GBP (£)	Apr. 30, 2017JPY (¥)
Derivatives Fair Value [Line Items]
Net change in effective portion of hedging contracts		$ 100	$ 200
Net change in effective portion of hedging contracts, tax		$ 0	100
Maximum length of time hedged in cash flow hedge		24 months
Amounts reclassified from accumulated other comprehensive income	[1]	$ 77	126
Net Unrealized Income (Loss) On Hedging Contracts
Derivatives Fair Value [Line Items]
Amounts reclassified from accumulated other comprehensive income	[1]	$ 77	126
Accumulated other comprehensive income, tax			$ 0
Foreign Exchange Forward
Derivatives Fair Value [Line Items]
Net forward contracts hedging portfolio				SFr 21,000,000	€ 11,700,000	£ 5,900,000	¥ 30,000,000
Maximum
Derivatives Fair Value [Line Items]
Expiry dates ranging		Oct. 5, 2017
[1]	Amounts reclassified to earnings in the Consolidated Statements of Operations.

Derivative Financial Instrume45

Derivative Financial Instruments (Details) - USD ($) $ in Thousands	Apr. 30, 2017	Jan. 31, 2017	Apr. 30, 2016
Designated as Hedging Instrument
Fair value and presentation of derivatives
Asset Derivatives	$ 5
Liability Derivatives	156		$ 191
Designated as Hedging Instrument | Foreign Exchange Contract | Other Current Assets
Fair value and presentation of derivatives
Asset Derivatives	5
Designated as Hedging Instrument | Foreign Exchange Contract | Accrued Liabilities
Fair value and presentation of derivatives
Liability Derivatives	156		191
Not Designated as Hedging Instrument
Fair value and presentation of derivatives
Asset Derivatives	200	$ 145	719
Liability Derivatives	6	211	8
Not Designated as Hedging Instrument | Foreign Exchange Contract | Other Current Assets
Fair value and presentation of derivatives
Asset Derivatives	200	145	719
Not Designated as Hedging Instrument | Foreign Exchange Contract | Accrued Liabilities
Fair value and presentation of derivatives
Liability Derivatives	$ 6	$ 211	$ 8

Accumulated Other Comprehensi46

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands		3 Months Ended
		Apr. 30, 2017	Apr. 30, 2016
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance		$ 473,993
Other comprehensive income / (loss) before reclassifications		(1,810)	$ 17,792
Amounts reclassified from accumulated other comprehensive income	[1]	(77)	(126)
Net current-period other comprehensive income / (loss)		(1,887)	17,666
Ending Balance		464,520	458,786
Currency Translation Adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance		76,569	68,265
Other comprehensive income / (loss) before reclassifications		(1,730)	17,892
Net current-period other comprehensive income / (loss)		(1,730)	17,892
Ending Balance		74,839	86,157
Available-for-sale securities
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance		197	189
Other comprehensive income / (loss) before reclassifications		(12)	6
Net current-period other comprehensive income / (loss)		(12)	6
Ending Balance		185	195
Hedging Contracts
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance		14	51
Other comprehensive income / (loss) before reclassifications		(68)	(106)
Amounts reclassified from accumulated other comprehensive income	[1]	(77)	(126)
Net current-period other comprehensive income / (loss)		(145)	(232)
Ending Balance		(131)	(181)
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance		76,780	68,505
Ending Balance		$ 74,893	$ 86,171
[1]	Amounts reclassified to earnings in the Consolidated Statements of Operations.

Treasury Stock (Details Textual

Treasury Stock (Details Textual) - USD ($)	Mar. 31, 2016	Apr. 30, 2017	Apr. 30, 2016
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program expiration date	Sep. 30, 2017
Stock repurchase program, number of shares repurchased		44,000	34,000
Stock repurchase program, total cost of shares repurchased		$ 1,028,000	$ 943,000
Stock repurchase program, average per share price of shares repurchased		$ 23.37	$ 27.74
Surrender of Shares by Employee
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, number of shares repurchased		30,206	43,773
Maximum
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, number of shares authorized	$ 50,000,000
Movado Group Foundation
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, number of shares repurchased		20,000	15,000
Stock repurchase program, total cost of shares repurchased		$ 500,000	$ 400,000
Stock repurchase program, average per share price of shares repurchased		$ 22.90	$ 27.67

Accounting Changes and Recent48

Accounting Changes and Recent Accounting Pronouncements (Details Textual) $ in Millions	3 Months Ended
	Apr. 30, 2018USD ($)
ASU 2016-09 | Scenario, Forecast
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Discrete excess tax expense recognized in provision for income tax	$ 1

Operating Efficiency Initiati49

Operating Efficiency Initiatives and Other Items (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2017	Jan. 31, 2016	Apr. 30, 2015
Restructuring And Related Activities [Abstract]
Pre-tax charges		$ 1.3	$ 2.7
Operating efficiency initiatives and other items, completion date	Jan. 31, 2016

Operating Efficiency Initiati50

Operating Efficiency Initiatives and Other Items (Details) $ in Thousands	3 Months Ended
	Apr. 30, 2017USD ($)
Restructuring Cost And Reserve [Line Items]
Balance at January 31, 2017	$ 408
Cash payments	(33)
Foreign exchange	(18)
Accrued balance at April 30, 2017	357
Severance
Restructuring Cost And Reserve [Line Items]
Balance at January 31, 2017	78
Cash payments	(1)
Foreign exchange	(4)
Accrued balance at April 30, 2017	73
Occupancy charges
Restructuring Cost And Reserve [Line Items]
Balance at January 31, 2017	330
Cash payments	(32)
Foreign exchange	(14)
Accrued balance at April 30, 2017	$ 284

Cost Savings Initiatives (Detai

Cost Savings Initiatives (Details Textual) $ in Thousands	3 Months Ended
	Apr. 30, 2017USD ($)
Restructuring Cost And Reserve [Line Items]
Cost savings initiative	$ 6,334
Cost Savings Initiatives
Restructuring Cost And Reserve [Line Items]
Cost savings initiative	$ 6,334	[1]
[1]	The United States and International locations of the Wholesale segment include a pre-tax charge of $3.8 million and $2.5 million, respectively.

Cost Savings Initiatives (Det52

Cost Savings Initiatives (Details) - USD ($) $ in Thousands		3 Months Ended
		Apr. 30, 2017	Jan. 31, 2017
Restructuring Cost And Reserve [Line Items]
Fiscal 2018 Charges		$ 6,334
Cash payments		(33)
Foreign exchange		(18)
Accrued balance at April 30, 2017		357	$ 408
Occupancy charges
Restructuring Cost And Reserve [Line Items]
Cash payments		(32)
Foreign exchange		(14)
Accrued balance at April 30, 2017		284	$ 330
Cost Savings Initiatives
Restructuring Cost And Reserve [Line Items]
Fiscal 2018 Charges	[1]	6,334
Cash payments		(490)
Non-cash adjustments		(130)
Foreign exchange		3
Accrued balance at April 30, 2017		5,717
Cost Savings Initiatives | Severance and Payroll Related
Restructuring Cost And Reserve [Line Items]
Fiscal 2018 Charges	[1],[2]	5,943
Cash payments	[2]	(489)
Non-cash adjustments	[2]	(125)
Foreign exchange	[2]	2
Accrued balance at April 30, 2017	[2]	5,331
Cost Savings Initiatives | Other
Restructuring Cost And Reserve [Line Items]
Fiscal 2018 Charges	[1],[2]	292
Cash payments	[2]	(1)
Non-cash adjustments	[2]	(5)
Foreign exchange	[2]	1
Accrued balance at April 30, 2017	[2]	287
Cost Savings Initiatives | Occupancy charges
Restructuring Cost And Reserve [Line Items]
Fiscal 2018 Charges	[1],[2]	99
Accrued balance at April 30, 2017	[2]	$ 99
[1]	The United States and International locations of the Wholesale segment include a pre-tax charge of $3.8 million and $2.5 million, respectively.
[2]	The total severance and payroll related charges of $5.9 million include $4.5 million in SG&A and $1.4 million in Cost of Sales in the Consolidated Statement of Operations for the three months ended April 30, 2017. The other charges of $0.3 million and occupancy charges of $0.1 million are included in SG&A in the Consolidated Statement of Operations for the three months ended April 30, 2017.

Cost Savings Initiatives (Det53

Cost Savings Initiatives (Details) (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2017	Jan. 31, 2016	Apr. 30, 2015
Restructuring Cost And Reserve [Line Items]
Pre-tax charges		$ 1.3	$ 2.7
Cost Savings Initiatives | United States | Wholesale
Restructuring Cost And Reserve [Line Items]
Pre-tax charges	$ 3.8
Cost Savings Initiatives | International | Wholesale
Restructuring Cost And Reserve [Line Items]
Pre-tax charges	2.5
Cost Savings Initiatives | Severance and Payroll Related
Restructuring Cost And Reserve [Line Items]
Pre-tax charges	5.9
Cost Savings Initiatives | Severance and Payroll Related | SG&A
Restructuring Cost And Reserve [Line Items]
Pre-tax charges	4.5
Cost Savings Initiatives | Severance and Payroll Related | Cost of Sales
Restructuring Cost And Reserve [Line Items]
Pre-tax charges	1.4
Cost Savings Initiatives | Other | SG&A
Restructuring Cost And Reserve [Line Items]
Pre-tax charges	0.3
Cost Savings Initiatives | Occupancy charges | SG&A
Restructuring Cost And Reserve [Line Items]
Pre-tax charges	$ 0.1