Document_and_Entity_Informatio
| Document and Entity Information | 3 Months Ended | |
| Apr. 05, 2014 | 8-May-14 | |
| Document and Entity Information | ' | ' |
| Entity Registrant Name | 'Fossil Group, Inc. | ' |
| Entity Central Index Key | '0000883569 | ' |
| Document Type | '10-Q | ' |
| Document Period End Date | 5-Apr-14 | ' |
| Amendment Flag | 'false | ' |
| Current Fiscal Year End Date | '--12-28 | ' |
| Entity Current Reporting Status | 'Yes | ' |
| Entity Filer Category | 'Large Accelerated Filer | ' |
| Entity Common Stock, Shares Outstanding | ' | 53,517,965 |
| Document Fiscal Year Focus | '2014 | ' |
| Document Fiscal Period Focus | 'Q1 | ' |
CONDENSED_CONSOLIDATED_BALANCE
| CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Apr. 05, 2014 | Dec. 28, 2013 |
| In Thousands, unless otherwise specified | ||
| Current assets: | ' | ' |
| Cash and cash equivalents | $303,418 | $320,479 |
| Accounts receivable - net of allowances of $71,817 and $74,841, respectively | 290,089 | 454,762 |
| Inventories | 601,862 | 570,719 |
| Deferred income tax assets-net | 46,596 | 46,986 |
| Prepaid expenses and other current assets | 124,432 | 86,516 |
| Total current assets | 1,366,397 | 1,479,462 |
| Property, plant and equipment - net of accumulated depreciation of $331,297 and $314,787,respectively | 356,755 | 355,666 |
| Goodwill | 206,665 | 206,954 |
| Intangible and other assets-net | 184,511 | 188,332 |
| Total long-term assets | 747,931 | 750,952 |
| Total assets | 2,114,328 | 2,230,414 |
| Current liabilities: | ' | ' |
| Accounts payable | 144,411 | 165,433 |
| Short-term debt | 13,600 | 13,443 |
| Accrued expenses: | ' | ' |
| Compensation | 61,253 | 80,573 |
| Royalties | 27,850 | 65,117 |
| Co-op advertising | 14,968 | 25,599 |
| Transaction taxes | 21,213 | 35,134 |
| Other | 78,163 | 79,860 |
| Income taxes payable | 28,827 | 26,747 |
| Total current liabilities | 390,285 | 491,906 |
| Long-term income taxes payable | 16,576 | 15,720 |
| Deferred income tax liabilities | 97,748 | 98,168 |
| Long-term debt | 528,345 | 494,711 |
| Other long-term liabilities | 56,163 | 54,542 |
| Total long-term liabilities | 698,832 | 663,141 |
| Commitments and contingencies (Note 13) | ' | ' |
| Stockholders' equity: | ' | ' |
| Common stock, 53,798 and 54,708 shares issued at April 5, 2014 and December 28, 2013, respectively | 538 | 547 |
| Additional paid-in capital | 157,886 | 154,376 |
| Retained earnings | 826,865 | 877,063 |
| Accumulated other comprehensive income | 35,805 | 36,691 |
| Total Fossil Group, Inc. stockholders' equity | 1,021,094 | 1,068,677 |
| Noncontrolling interest | 4,117 | 6,690 |
| Total stockholders' equity | 1,025,211 | 1,075,367 |
| Total liabilities and stockholders' equity | $2,114,328 | $2,230,414 |
CONDENSED_CONSOLIDATED_BALANCE1
| CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Apr. 05, 2014 | Dec. 28, 2013 |
| In Thousands, unless otherwise specified | ||
| CONDENSED CONSOLIDATED BALANCE SHEETS | ' | ' |
| Accounts receivable - allowances (in dollars) | $71,817 | $74,841 |
| Property, plant and equipment, accumulated depreciation (in dollars) | $331,297 | $314,787 |
| Common stock, shares issued | 53,798 | 54,708 |
CONDENSED_CONSOLIDATED_STATEME
| CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (USD $) | 3 Months Ended | |
| In Thousands, except Per Share data, unless otherwise specified | Apr. 05, 2014 | Mar. 30, 2013 |
| CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME | ' | ' |
| Net sales | $776,544 | $680,899 |
| Cost of sales | 333,324 | 302,428 |
| Gross profit | 443,220 | 378,471 |
| Selling, general and administrative expenses | 338,522 | 284,150 |
| Operating income | 104,698 | 94,321 |
| Interest expense | 3,706 | 1,231 |
| Other (expense) income-net | -351 | 9,784 |
| Income before income taxes | 100,641 | 102,874 |
| Provision for income taxes | 31,480 | 28,894 |
| Net income | 69,161 | 73,980 |
| Less: Net income attributable to noncontrolling interest | 2,818 | 1,794 |
| Net income attributable to Fossil Group, Inc. | 66,343 | 72,186 |
| Other comprehensive (loss) income, net of taxes: | ' | ' |
| Currency translation adjustment | -1,125 | -19,837 |
| Securities available for sale-net change | 0 | -71 |
| Derivative instruments-net change | 239 | 3,391 |
| Total other comprehensive loss | -886 | -16,517 |
| Total comprehensive income | 68,275 | 57,463 |
| Less: Comprehensive income attributable to noncontrolling interest | 2,818 | 1,794 |
| Comprehensive income attributable to Fossil Group, Inc. | $65,457 | $55,669 |
| Earnings per share: | ' | ' |
| Basic (in dollars per share) | $1.23 | $1.22 |
| Diluted (in dollars per share) | $1.22 | $1.21 |
| Weighted average common shares outstanding: | ' | ' |
| Basic (in shares) | 54,125 | 59,393 |
| Diluted (in shares) | 54,351 | 59,783 |
CONDENSED_CONSOLIDATED_STATEME1
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 3 Months Ended | |
| In Thousands, unless otherwise specified | Apr. 05, 2014 | Mar. 30, 2013 |
| Operating Activities: | ' | ' |
| Net income | $69,161 | $73,980 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
| Depreciation, amortization and accretion | 23,377 | 18,758 |
| Stock-based compensation | 4,978 | 2,546 |
| Decrease in allowance for returns-net of inventory in transit | -1,525 | -238 |
| (Gain) loss on disposal of assets | -31 | 266 |
| Impairment losses | 282 | 0 |
| Gain on equity method investment | 0 | -6,410 |
| Decrease in allowance for doubtful accounts | -1,063 | -4,202 |
| Excess tax benefits from stock-based compensation | -938 | -4,082 |
| Deferred income taxes and other | -440 | 8,292 |
| Changes in operating assets and liabilities: | ' | ' |
| Accounts receivable | 167,760 | 99,403 |
| Inventories | -32,002 | -11,507 |
| Prepaid expenses and other current assets | -38,439 | -14,721 |
| Accounts payable | -17,879 | -20,369 |
| Accrued expenses | -80,095 | -49,000 |
| Income taxes payable | 3,829 | -6,813 |
| Net cash provided by operating activities | 96,975 | 85,903 |
| Investing Activities: | ' | ' |
| Additions to property, plant and equipment | -21,505 | -19,485 |
| Increase in intangible and other assets | -2,162 | -723 |
| Net change in restricted cash | -3 | 452 |
| Business acquisitions-net of cash acquired | 0 | -15,165 |
| Net cash used in investing activities | -23,670 | -34,921 |
| Financing Activities: | ' | ' |
| Acquisition of common stock | -119,715 | -61,188 |
| Distribution of noncontrolling interest earnings and other | -5,391 | -4 |
| Excess tax benefits from stock-based compensation | 938 | 4,082 |
| Debt borrowings | 196,200 | 218,098 |
| Debt payments | -162,456 | -142,718 |
| Proceeds from exercise of stock options | 759 | 1,991 |
| Net cash (used in) provided by financing activities | -89,665 | 20,261 |
| Effect of exchange rate changes on cash and cash equivalents | -701 | -7,083 |
| Net (decrease) increase in cash and cash equivalents | -17,061 | 64,160 |
| Cash and cash equivalents: | ' | ' |
| Beginning of period | 320,479 | 177,236 |
| End of period | $303,418 | $241,396 |
FINANCIAL_STATEMENT_POLICIES
| FINANCIAL STATEMENT POLICIES | 3 Months Ended | |||||||
| Apr. 05, 2014 | ||||||||
| FINANCIAL STATEMENT POLICIES | ' | |||||||
| FINANCIAL STATEMENT POLICIES | ' | |||||||
| 1. FINANCIAL STATEMENT POLICIES | ||||||||
| Basis of Presentation. The condensed consolidated financial statements include the accounts of Fossil Group, Inc., a Delaware corporation, and its wholly and majority-owned subsidiaries (the “Company”). | ||||||||
| The Company’s fiscal year periodically results in a 53-week year instead of a normal 52-week year. The current fiscal year ending January 3, 2015 is a 53-week year, with the additional week being included in the first quarter. Accordingly, the information presented herein includes fourteen weeks of operations for the quarter ended April 5, 2014 (“First Quarter”) as compared to thirteen weeks included in the quarter ended March 30, 2013 (“Prior Year Quarter”). The condensed consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary to present a fair statement of the Company’s financial position as of April 5, 2014, and the results of operations for the First Quarter and Prior Year Quarter. All adjustments are of a normal, recurring nature. | ||||||||
| These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Annual Report on Form 10-K filed by the Company pursuant to the Securities Exchange Act of 1934, as amended (the “Exchange Act”), for the fiscal year ended December 28, 2013 (the “2013 Form 10-K”). Operating results for the First Quarter and Prior Year Quarter are not necessarily indicative of the results to be achieved for the full fiscal year. | ||||||||
| The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), 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 date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the periods reported. Actual results could differ from those estimates. The Company has not made any changes in its significant accounting policies from those disclosed in the 2013 Form 10-K. | ||||||||
| Business. The Company is a global design, marketing and distribution company that specializes in consumer fashion accessories. Its principal offerings include an extensive line of men’s and women’s fashion watches and jewelry, handbags, small leather goods, belts, sunglasses, soft accessories and clothing. In the watch and jewelry product categories, the Company has a diverse portfolio of globally recognized owned and licensed brand names under which its products are marketed. The Company’s products are distributed globally through various distribution channels, including wholesale in countries where it has a physical presence, direct to the consumer through its retail stores and commercial websites and through third-party distributors in countries where the Company does not maintain a physical presence. The Company’s products are offered at varying price points to meet the needs of its customers, whether they are value-conscious or luxury oriented. Based on its extensive range of accessory products, brands, distribution channels and price points, the Company is able to target style-conscious consumers across a wide age spectrum on a global basis. | ||||||||
| Hedging Instruments. The Company is exposed to certain market risks relating to foreign exchange rates and interest rates. The Company actively monitors and attempts to manage these exposures using derivative instruments including foreign currency forward contracts and an interest rate swap. The Company’s foreign subsidiaries periodically enter into foreign exchange forward contracts to hedge the future payment of intercompany inventory transactions denominated in U.S. dollars. If the Company was to settle its Euro, British Pound, Canadian Dollar, Japanese Yen, Australian Dollar, and Mexican Peso forward contracts as of April 5, 2014, the net result would have been a net loss of approximately $2.3 million, net of taxes. To help protect against adverse fluctuations in interest rates, the Company has entered into an interest rate swap agreement to effectively convert a portion of variable rate debt obligations from a floating rate to a fixed rate. To reduce exposure to changes in currency exchange rates adversely affecting the Company’s investment in a Euro-denominated subsidiary, the Company has entered into a forward contract designated as a net investment hedge. The Company does not hold or issue derivative financial instruments for trading or speculative purposes. | ||||||||
| The Company applies the hedge accounting rules as required by Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging (“ASC 815”). See “Note 10—Derivatives and Risk Management” for additional disclosures about the Company’s use of derivatives. | ||||||||
| Earnings Per Share (“EPS”). Basic EPS is based on the weighted average number of common shares outstanding during each period. Diluted EPS adjusts basic EPS for the effects of dilutive common stock equivalents outstanding during each period using the treasury stock method. | ||||||||
| The following table reconciles the numerators and denominators used in the computations of both basic and diluted EPS (in thousands, except per share data): | ||||||||
| For the 14 | For the 13 | |||||||
| Weeks Ended | Weeks Ended | |||||||
| April 5, 2014 | March 30, 2013 | |||||||
| Numerator: | ||||||||
| Net income attributable to Fossil Group, Inc. | $ | 66,343 | $ | 72,186 | ||||
| Denominator: | ||||||||
| Basic EPS computations: | ||||||||
| Basic weighted average common shares outstanding | 54,125 | 59,393 | ||||||
| Basic EPS | $ | 1.23 | $ | 1.22 | ||||
| Diluted EPS computation: | ||||||||
| Basic weighted average common shares outstanding | 54,125 | 59,393 | ||||||
| Stock options, stock appreciation rights and restricted stock units | 226 | 390 | ||||||
| Diluted weighted average common shares outstanding | 54,351 | 59,783 | ||||||
| Diluted EPS | $ | 1.22 | $ | 1.21 | ||||
| Approximately 217,700 and 201,000 shares issuable under stock-based awards were not included in the diluted EPS calculation at the end of the First Quarter and Prior Year Quarter, respectively, because they were antidilutive. | ||||||||
| Recently Adopted Accounting Standards. In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (“ASU 2013-11”). ASU 2013-11 requires, unless certain conditions exist, an unrecognized tax benefit to be presented as a reduction to a deferred tax asset in the financial statements for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. The guidance in ASU 2013-11 was effective for the Company beginning fiscal year 2014 and did not have a material impact on the Company’s consolidated results of operations or financial position. | ||||||||
| In March 2013, FASB issued ASU 2013-05, Foreign Currency Matters (Topic 830): Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity (“ASU 2013-05”). ASU 2013-05 addresses the accounting for the cumulative translation adjustment when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business within a foreign entity. The guidance outlines the events when cumulative translation adjustments should be released into net income and is intended by FASB to eliminate some disparity in current accounting practice. The guidance in ASU 2013-05 was effective for the Company beginning fiscal year 2014 and did not have a material impact on the Company’s consolidated results of operations or financial position. | ||||||||
| In December 2011, FASB issued ASU 2011-11, Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities (“ASU 2011-11”), to address certain comparability issues between financial statements prepared in accordance with GAAP and those prepared in accordance with International Financial Reporting Standards. In January 2013, FASB issued ASU 2013-01, Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities (“ASU 2013-01”), which clarifies which instruments and transactions are subject to the offsetting disclosure requirements established by ASU 2011-11. ASU 2011-11 will require an entity to provide enhanced disclosures about certain financial instruments and derivatives, as defined in ASU 2013-01, to enable users to understand the effects of offsetting in the financial statements as well as the effects of master netting arrangements on an entity’s financial condition. The amendments in ASU 2011-11 and ASU 2013-01 became effective for the Company in fiscal year 2014 and did not have a material impact on the Company’s consolidated results of operations or financial position. | ||||||||
ACQUISITIONS_DIVESTITURE_AND_G
| ACQUISITIONS, DIVESTITURE AND GOODWILL | 3 Months Ended | |||||||||||||
| Apr. 05, 2014 | ||||||||||||||
| ACQUISITIONS, DIVESTITURE AND GOODWILL | ' | |||||||||||||
| ACQUISITIONS, DIVESTITURE AND GOODWILL | ' | |||||||||||||
| 2. ACQUISITIONS, DIVESTITURE AND GOODWILL | ||||||||||||||
| Fossil Spain Acquisition. On August 10, 2012, the Company’s joint venture company, Fossil, S.L. (“Fossil Spain”), entered into a Framework Agreement (the “Framework Agreement”) with several related and unrelated parties, including General De Relojeria, S.A. (“General De Relojeria”), the Company’s joint venture partner. Pursuant to the Framework Agreement, Fossil Spain was granted the right to acquire the outstanding 50% of its shares owned by General De Relojeria upon the expiration of the joint venture agreement on December 31, 2015. Upon the acquisition of these shares, Fossil Spain will become a wholly owned subsidiary of the Company. | ||||||||||||||
| Effective January 1, 2013, pursuant to the Framework Agreement, the Company assumed control over the board of directors and the day-to-day management of Fossil Spain. As a result of this change, the Company now controls Fossil Spain and began consolidating it in accordance with ASC 810, Consolidation, instead of treating it as an equity method investment. | ||||||||||||||
| In accordance with ASC 805, Business Combinations, the Company re-measured its preexisting investment in Fossil Spain to fair value as of January 1, 2013, resulting in a gain of $6.5 million, which was recorded in other (expense) income-net on the Company’s condensed consolidated statements of income and comprehensive income. The results of Fossil Spain’s operations have been included in the Company’s condensed consolidated financial statements since January 1, 2013. The Company recorded approximately $10.6 million of goodwill related to the acquisition. | ||||||||||||||
| The purchase price for the shares has a fixed and variable component. The fixed portion is based on 50% of the net book value of Fossil Spain as of December 31, 2012. The fixed portion was measured at 5.2 million Euros (approximately $6.8 million at the purchase date). The Company recorded a contingent consideration liability of 5.9 million Euros (approximately $7.8 million at the purchase date) related to the variable portion of the purchase price as of January 1, 2013. The variable portion will be determined based on Fossil Spain’s aggregated results of operations less dividends distributed by Fossil Spain to General De Relojeria with a minimum annual variable price of 2.0 million Euros (approximately $2.6 million at the purchase date) and a maximum annual variable price of 3.5 million Euros (approximately $4.6 million at the purchase date) for each of the calendar years 2013, 2014, and 2015. On December 19, 2013, Fossil Spain paid dividends relating to fiscal year 2012 of 1.8 million Euros (approximately $2.5 million at year end 2013) to General De Relojeria which reduced the fixed portion of the purchase price. See “Note 11 — Fair Value Measurements” for additional information about the contingent consideration liability for Fossil Spain. | ||||||||||||||
| Of the total consideration for Fossil Spain, 2.2 million Euros (approximately $3.0 million) relating to the contingent consideration for calendar year 2013 was recorded in accrued expenses — other, and 7.1 million Euros (approximately $9.7 million) of the total consideration was recorded in other long-term liabilities in the condensed consolidated balance sheets at April 5, 2014. | ||||||||||||||
| Bentrani Watches, LLC Acquisition. On December 31, 2012, the Company purchased substantially all of the assets of Bentrani Watches, LLC (“Bentrani”). Bentrani was a distributor of watch products in 16 Latin American countries and was based in Miami, Florida. Bentrani was the Company’s largest third-party distributor and had partnered with the Company for ten years. The purchase price was $26.6 million, comprised of $19.3 million in cash and $7.3 million in forgiveness of a payable to the Company. The Company recorded approximately $8.9 million of goodwill related to the acquisition. The results of Bentrani’s operations have been included in the Company’s condensed consolidated financial statements since the acquisition date. On June 28, 2013, the Company also obtained control of Bentrani Chile SpA (“Bentrani Chile”), and the results of Bentrani Chile’s operations have been included in the Company’s condensed consolidated financial statements since that date. The terms of the Bentrani Chile acquisition were not significant. | ||||||||||||||
| Goodwill is the excess of the cost of an acquired entity over the net of the amounts assigned to assets acquired and liabilities assumed. The changes in the carrying amount of goodwill, which is not subject to amortization, were as follows (in thousands): | ||||||||||||||
| North | Europe | Asia Pacific | Total | |||||||||||
| America | Wholesale | Wholesale | ||||||||||||
| Wholesale | ||||||||||||||
| Balance at December 28, 2013 | $ | 118,147 | $ | 77,217 | $ | 11,590 | $ | 206,954 | ||||||
| Foreign currency changes | (2 | ) | (274 | ) | (13 | ) | (289 | ) | ||||||
| Balance at April 5, 2014 | $ | 118,145 | $ | 76,943 | $ | 11,577 | $ | 206,665 | ||||||
INVENTORIES
| INVENTORIES | 3 Months Ended | |||||||
| Apr. 05, 2014 | ||||||||
| INVENTORIES | ' | |||||||
| INVENTORIES | ' | |||||||
| 3. INVENTORIES | ||||||||
| Inventories consisted of the following (in thousands): | ||||||||
| April 5, | December 28, | |||||||
| 2014 | 2013 | |||||||
| Components and parts | $ | 53,805 | $ | 56,275 | ||||
| Work-in-process | 7,704 | 14,017 | ||||||
| Finished goods | 540,353 | 500,427 | ||||||
| Inventories | $ | 601,862 | $ | 570,719 | ||||
WARRANTY_RESERVE
| WARRANTY RESERVE | 3 Months Ended | |||||||
| Apr. 05, 2014 | ||||||||
| WARRANTY RESERVE | ' | |||||||
| WARRANTY RESERVE | ' | |||||||
| 4. WARRANTY RESERVE | ||||||||
| The Company’s warranty liabilities are primarily related to watch products. The Company’s FOSSIL® watch products sold in the U.S. are covered by a limited warranty against defects in materials or workmanship for a period of 11 years from the date of purchase. RELIC® watch products sold in the U.S. are covered by a comparable 12 year warranty, while certain other watches sold by the Company are covered by a comparable two year limited warranty. SKAGEN® branded watches are covered by a lifetime warranty against defects due to faulty material or workmanship, subject to normal conditions of use. The Company’s warranty liability is recorded using historical warranty repair expense and is recorded in accrued expenses-other in the condensed consolidated balance sheets. As changes in warranty costs are experienced, the warranty accrual is adjusted as necessary. Warranty liability activity consisted of the following (in thousands): | ||||||||
| For the 14 | For the 13 | |||||||
| Weeks Ended | Weeks Ended | |||||||
| April 5, 2014 | March 30, 2013 | |||||||
| Beginning balance | $ | 15,658 | $ | 13,383 | ||||
| Settlements in cash or kind | (3,163 | ) | (2,461 | ) | ||||
| Warranties issued and adjustments to preexisting warranties (1) | 3,364 | 2,396 | ||||||
| Liabilities assumed in acquisition | 0 | 340 | ||||||
| Ending balance | $ | 15,859 | $ | 13,658 | ||||
| (1) Changes in cost estimates related to preexisting warranties are aggregated with accruals for new standard warranties issued and foreign currency changes. | ||||||||
INCOME_TAXES
| INCOME TAXES | 3 Months Ended | |||||||
| Apr. 05, 2014 | ||||||||
| INCOME TAXES | ' | |||||||
| INCOME TAXES | ' | |||||||
| 5. INCOME TAXES | ||||||||
| The Company’s income tax expense and related effective rate were as follows (in thousands, except percentage data): | ||||||||
| For the 14 | For the 13 | |||||||
| Weeks Ended | Weeks Ended | |||||||
| April 5, 2014 | March 30, 2013 | |||||||
| Income tax expense | $ | 31,480 | $ | 28,894 | ||||
| Income tax rate | 31.3 | % | 28.1 | % | ||||
| The higher effective tax rate in the First Quarter was primarily due to discrete items in the Prior Year Quarter which included recognition of income tax benefits from the settlement of income tax audits of previous years. | ||||||||
| As of April 5, 2014, the total amount of unrecognized tax benefits, excluding interest and penalties, was $15.2 million, of which $10.0 million would favorably impact the effective tax rate in future periods, if recognized. During the First Quarter, the U.S. Internal Revenue Service began its examination of the Company’s 2010-2012 federal income tax returns. The Company is subject to examinations in various state and foreign jurisdictions for its 2006-2012 tax years, none of which the Company believes are individually significant. Audit outcomes and timing of audit settlements are subject to significant uncertainty. | ||||||||
| The Company has classified uncertain tax positions as long-term income taxes payable, unless such amounts are expected to be paid within twelve months of the condensed consolidated balance sheet date. As of April 5, 2014, the Company had recorded $0.4 million of unrecognized tax benefits, excluding interest and penalties, for positions that could be settled within the next twelve months. Consistent with its past practice, the Company recognizes interest and/or penalties related to income tax overpayments and income tax underpayments in income tax expense and income taxes receivable/payable, respectively. The total amount of accrued income tax-related interest and penalties included in the condensed consolidated balance sheets at April 5, 2014 was $1.4 million and $0.4 million, respectively. For the First Quarter, the Company accrued income tax-related interest expense of $0.2 million. | ||||||||
STOCKHOLDERS_EQUITY
| STOCKHOLDERS' EQUITY | 3 Months Ended | ||||||||||||||||
| Apr. 05, 2014 | |||||||||||||||||
| STOCKHOLDERS' EQUITY | ' | ||||||||||||||||
| STOCKHOLDERS' EQUITY | ' | ||||||||||||||||
| 6. STOCKHOLDERS’ EQUITY | |||||||||||||||||
| Common Stock Repurchase Programs. Purchases of the Company’s common stock are made from time to time pursuant to its repurchase programs, subject to market conditions and at prevailing market prices, through the open market. Repurchased shares of common stock are recorded at cost and become authorized but unissued shares which may be issued in the future for general corporate or other purposes. The Company may terminate or limit its stock repurchase program at any time. In the event the repurchased shares are cancelled, the Company accounts for retirements by allocating the repurchase price to common stock, additional paid-in capital and retained earnings. The repurchase price allocation is based upon the equity contribution associated with historical issuances. The repurchase programs are conducted pursuant to Rule 10b-18 of the Securities Exchange Act of 1934. | |||||||||||||||||
| During the First Quarter, the Company effectively retired 1.0 million shares of common stock repurchased under its repurchase programs. The effective retirement of repurchased common stock decreased common stock by $10,000, additional paid-in capital by $0.8 million, retained earnings by $116.5 million and treasury stock by $117.3 million. At December 28, 2013 and April 5, 2014, all treasury stock had been effectively retired. As of April 5, 2014, the Company had $376.4 million of repurchase authorizations remaining under its combined repurchase plans. | |||||||||||||||||
| The following table reflects the Company’s common stock repurchase activity for the period indicated (in millions): | |||||||||||||||||
| For the 14 Weeks Ended | For the 13 Weeks Ended | ||||||||||||||||
| April 5, 2014 | March 30, 2013 | ||||||||||||||||
| Fiscal Year Authorized | Dollar Value | Termination Date | Number of | Dollar Value | Number of | Dollar Value | |||||||||||
| Authorized | Shares | Repurchased | Shares | Repurchased | |||||||||||||
| Repurchased | Repurchased | ||||||||||||||||
| 2012 | $ | 1,000.00 | December 2016 | 1 | $ | 117.3 | 0.2 | $ | 18 | ||||||||
| 2010 | $ | 30 | None | 0 | $ | 0 | 0 | $ | 0 | ||||||||
| 2010 | $ | 750 | December 2013 (1) | 0 | $ | 0 | 0.4 | $ | 38.6 | ||||||||
| (1) In the Prior Year Quarter, the Company completed this repurchase plan. | |||||||||||||||||
| Controlling and Noncontrolling Interest. The following tables summarize the changes in equity attributable to controlling and noncontrolling interest (in thousands): | |||||||||||||||||
| Fossil Group, | |||||||||||||||||
| Inc. | Total | ||||||||||||||||
| Stockholders’ | Noncontrolling | Stockholders’ | |||||||||||||||
| Equity | Interest | Equity | |||||||||||||||
| Balance at December 28, 2013 | $ | 1,068,677 | $ | 6,690 | $ | 1,075,367 | |||||||||||
| Net income | 66,343 | 2,818 | 69,161 | ||||||||||||||
| Currency translation adjustment | (1,125 | ) | 0 | (1,125 | ) | ||||||||||||
| Derivative instruments - net change | 239 | 0 | 239 | ||||||||||||||
| Common stock issued upon exercise of stock options and stock appreciation rights | 759 | 0 | 759 | ||||||||||||||
| Tax benefit derived from stock-based compensation | 938 | 0 | 938 | ||||||||||||||
| Distribution of noncontrolling interest earnings and other | 0 | (5,391 | ) | (5,391 | ) | ||||||||||||
| Acquisition of common stock | (119,715 | ) | 0 | (119,715 | ) | ||||||||||||
| Stock-based compensation expense | 4,978 | 0 | 4,978 | ||||||||||||||
| Balance at April 5, 2014 | $ | 1,021,094 | $ | 4,117 | $ | 1,025,211 | |||||||||||
| Fossil Group, | |||||||||||||||||
| Inc. | Total | ||||||||||||||||
| Stockholders’ | Noncontrolling | Stockholders’ | |||||||||||||||
| Equity | Interest | Equity | |||||||||||||||
| Balance at December 29, 2012 | $ | 1,233,535 | $ | 6,929 | $ | 1,240,464 | |||||||||||
| Net income | 72,186 | 1,794 | 73,980 | ||||||||||||||
| Currency translation adjustment | (19,837 | ) | 0 | (19,837 | ) | ||||||||||||
| Unrealized loss on securities available for sale | (71 | ) | 0 | (71 | ) | ||||||||||||
| Forward contracts hedging intercompany foreign currency payments - change in fair values | 3,391 | 0 | 3,391 | ||||||||||||||
| Common stock issued upon exercise of stock options and stock appreciation rights | 1,991 | 0 | 1,991 | ||||||||||||||
| Tax benefit derived from stock-based compensation | 4,082 | 0 | 4,082 | ||||||||||||||
| Distribution of noncontrolling interest earnings | 0 | (4 | ) | (4 | ) | ||||||||||||
| Acquisition of common stock | (61,188 | ) | 0 | (61,188 | ) | ||||||||||||
| Stock-based compensation expense | 2,546 | 0 | 2,546 | ||||||||||||||
| Balance at March 30, 2013 | $ | 1,236,635 | $ | 8,719 | $ | 1,245,354 | |||||||||||
EMPLOYEE_BENEFIT_PLANS
| EMPLOYEE BENEFIT PLANS | 3 Months Ended | |||||||||||||
| Apr. 05, 2014 | ||||||||||||||
| EMPLOYEE BENEFIT PLANS | ' | |||||||||||||
| EMPLOYEE BENEFIT PLANS | ' | |||||||||||||
| 7. EMPLOYEE BENEFIT PLANS | ||||||||||||||
| Stock-Based Compensation Plans. The Company accounts for stock-based compensation in accordance with the provisions of ASC 718, Compensation-Stock Compensation (“ASC 718”), using the Black-Scholes option pricing model to determine the fair value of stock options and stock appreciation rights at the date of grant. The Company’s grants under its current stock-based compensation plans generally include: (i) stock options, restricted stock and restricted stock units for its international employees, (ii) restricted stock units for its non-employee directors and (iii) stock appreciation rights, restricted stock and restricted stock units for its U.S.-based employees. | ||||||||||||||
| The following table summarizes stock options and stock appreciation rights activity during the First Quarter: | ||||||||||||||
| Weighted- | ||||||||||||||
| Average | ||||||||||||||
| Weighted- | Remaining | Aggregate | ||||||||||||
| Average | Contractual | Intrinsic | ||||||||||||
| Stock Options and Stock Appreciation Rights | Shares | Exercise Price | Term (Years) | Value | ||||||||||
| in thousands | in thousands | |||||||||||||
| Outstanding at December 28, 2013 | 678 | $ | 76.15 | 6.2 | $ | 31,794 | ||||||||
| Granted | 84 | 113.04 | ||||||||||||
| Exercised | (21 | ) | 36.01 | 1,758 | ||||||||||
| Forfeited or expired | (3 | ) | 117.39 | |||||||||||
| Outstanding at April 5, 2014 | 738 | 81.38 | 6.2 | 28,427 | ||||||||||
| Exercisable at April 5, 2014 | 538 | $ | 68.86 | 5.7 | $ | 27,277 | ||||||||
| The aggregate intrinsic value shown in the table above is before income taxes and is based on (i) the exercise price for outstanding and exercisable options/rights at April 5, 2014 and (ii) the fair market value of the Company’s common stock on the exercise date for options/rights that were exercised during the First Quarter. | ||||||||||||||
| Stock Options and Stock Appreciation Rights Outstanding and Exercisable. The following table summarizes information with respect to stock options and stock appreciation rights outstanding and exercisable at April 5, 2014: | ||||||||||||||
| Stock Options Outstanding | Stock Options Exercisable | |||||||||||||
| Weighted- | ||||||||||||||
| Weighted- | Average | Weighted- | ||||||||||||
| Average | Remaining | Average | ||||||||||||
| Range of | Number of | Exercise | Contractual | Number of | Exercise | |||||||||
| Exercise Prices | Shares | Price | Term (Years) | Shares | Price | |||||||||
| in thousands | in thousands | |||||||||||||
| $13.65 - $21.51 | 77 | $ | 15.34 | 4.2 | 77 | $ | 15.34 | |||||||
| $21.51 - $34.59 | 60 | 29.39 | 2.8 | 60 | 29.39 | |||||||||
| $34.59 - $67.10 | 76 | 39.8 | 5.3 | 76 | 39.8 | |||||||||
| $67.10 - $116.88 | 111 | 80.91 | 7 | 107 | 80.76 | |||||||||
| $116.88 - $131.46 | 176 | 128.09 | 7.9 | 115 | 128.02 | |||||||||
| Total | 500 | $ | 75.04 | 6.1 | 435 | $ | 67.5 | |||||||
| Stock Appreciation Rights Outstanding | Stock Appreciation Rights Exercisable | |||||||||||||
| Weighted- | ||||||||||||||
| Weighted- | Average | Weighted- | ||||||||||||
| Average | Remaining | Average | ||||||||||||
| Range of | Number of | Exercise | Contractual | Number of | Exercise | |||||||||
| Exercise Prices | Shares | Price | Term (Years) | Shares | Price | |||||||||
| in thousands | in thousands | |||||||||||||
| $13.65 - $21.51 | 20 | $ | 13.65 | 3 | 20 | $ | 13.65 | |||||||
| $21.51 - $34.59 | 6 | 30.71 | 2 | 6 | 30.71 | |||||||||
| $34.59 - $67.10 | 16 | 42.68 | 4.3 | 14 | 39.87 | |||||||||
| $67.10 - $116.88 | 155 | 104.1 | 7.2 | 36 | 87.68 | |||||||||
| $116.88 - $131.46 | 41 | 127.91 | 5.8 | 27 | 127.91 | |||||||||
| Total | 238 | $ | 94.71 | 6.3 | 103 | $ | 74.6 | |||||||
| Restricted Stock and Restricted Stock Units. The following table summarizes restricted stock and restricted stock unit activity during the First Quarter: | ||||||||||||||
| Restricted Stock and Restricted Stock Units | Number of Shares | Weighted-Average | ||||||||||||
| Grant Date Fair | ||||||||||||||
| Value | ||||||||||||||
| in thousands | ||||||||||||||
| Nonvested at December 28, 2013 | 219 | $ | 99.27 | |||||||||||
| Granted | 133 | 113.1 | ||||||||||||
| Vested | (87 | ) | 86.2 | |||||||||||
| Forfeited | (2 | ) | 103.26 | |||||||||||
| Nonvested at April 5, 2014 | 263 | $ | 110.6 | |||||||||||
| The total fair value of restricted stock and restricted stock units vested during the First Quarter was approximately $9.9 million. | ||||||||||||||
ACCUMULATED_OTHER_COMPREHENSIV
| ACCUMULATED OTHER COMPREHENSIVE INCOME | 3 Months Ended | |||||||||||||||||||
| Apr. 05, 2014 | ||||||||||||||||||||
| ACCUMULATED OTHER COMPREHENSIVE INCOME | ' | |||||||||||||||||||
| ACCUMULATED OTHER COMPREHENSIVE INCOME | ' | |||||||||||||||||||
| 8. ACCUMULATED OTHER COMPREHENSIVE INCOME | ||||||||||||||||||||
| The following table illustrates changes in the balances of each component of accumulated other comprehensive income, net of taxes (in thousands): | ||||||||||||||||||||
| For the 14 Weeks Ended April 5, 2014 | ||||||||||||||||||||
| Currency | Forward | Interest Rate | Net | Pension | Total | |||||||||||||||
| Translation | Contracts | Swap | Investment | Plan | ||||||||||||||||
| Adjustments | Hedges | |||||||||||||||||||
| Beginning balance | $ | 38,152 | $ | (2,091 | ) | $ | (106 | ) | $ | 0 | $ | 736 | $ | 36,691 | ||||||
| Other comprehensive (loss) income before reclassifications, net of tax benefit of $288 | (1,125 | ) | (348 | ) | (538 | ) | 162 | 0 | (1,849 | ) | ||||||||||
| Amounts reclassed from accumulated other comprehensive (loss) income, net of tax benefit of $597 | 0 | (498 | ) | (465 | ) | 0 | 0 | (963 | ) | |||||||||||
| Total other comprehensive (loss) income | (1,125 | ) | 150 | (73 | ) | 162 | 0 | (886 | ) | |||||||||||
| Ending balance | $ | 37,027 | $ | (1,941 | ) | $ | (179 | ) | $ | 162 | $ | 736 | $ | 35,805 | ||||||
| For the 13 Weeks Ended March 30, 2013 | ||||||||||||||||||||
| Currency | Securities | Forward | Total | |||||||||||||||||
| Translation | Available for | Contracts | ||||||||||||||||||
| Adjustments | Sale | |||||||||||||||||||
| Beginning balance | $ | 30,181 | $ | (475 | ) | $ | (946 | ) | $ | 28,760 | ||||||||||
| Other comprehensive (loss) income before reclassifications, net of tax benefit of $3,474 | (19,837 | ) | (71 | ) | 3,345 | (16,563 | ) | |||||||||||||
| Amounts reclassed from accumulated other comprehensive (loss) income, net of tax expense of $87 | 0 | 0 | (46 | ) | (46 | ) | ||||||||||||||
| Total other comprehensive (loss) income | (19,837 | ) | (71 | ) | 3,391 | (16,517 | ) | |||||||||||||
| Ending balance | $ | 10,344 | $ | (546 | ) | $ | 2,445 | $ | 12,243 | |||||||||||
| See “Note 10—Derivatives and Risk Management” for additional disclosures about the Company’s use of derivatives. | ||||||||||||||||||||
SEGMENT_INFORMATION
| SEGMENT INFORMATION | 3 Months Ended | |||||||||||||
| Apr. 05, 2014 | ||||||||||||||
| SEGMENT INFORMATION | ' | |||||||||||||
| SEGMENT INFORMATION | ' | |||||||||||||
| 9. SEGMENT INFORMATION | ||||||||||||||
| The Company manages its business primarily on a geographic basis. The Company’s reportable operating segments are comprised of North America wholesale, Europe wholesale, Asia Pacific wholesale and Direct to consumer. The North America wholesale, Europe wholesale and Asia Pacific wholesale reportable segments do not include activities related to the Direct to consumer segment. The North America wholesale segment primarily includes sales to wholesale or distributor customers based in Canada, Mexico, the United States and countries in South America. The Europe wholesale segment primarily includes sales to wholesale or distributor customers based in European countries, the Middle East and Africa. The Asia Pacific wholesale segment primarily includes sales to wholesale or distributor customers based in Australia, China (including the Company’s assembly and procurement operations), India, Indonesia, Japan, Malaysia, New Zealand, Singapore, South Korea, Taiwan and Thailand. The Direct to consumer segment includes Company-owned retail stores, e-commerce activities and catalog costs. Each reportable operating segment provides similar products and services. | ||||||||||||||
| The Company evaluates the performance of its reportable segments based on net sales and operating income. Net sales for geographic segments are generally based on the location of the customers. Operating income for each segment includes net sales to third-parties, related cost of sales and operating expenses directly attributable to the segment. General corporate expenses, including certain administrative, legal, accounting, technology support costs, equity compensation costs, payroll costs attributable to executive management and amounts related to intercompany eliminations are not allocated to the various segments. Intercompany sales of products between segments are referred to as intersegment items. Intercompany profit attributable to the Company’s factory operations is included in the Asia Pacific wholesale and Europe wholesale segments in accordance with the geographic location of the factories. These intercompany factory profits are eliminated in consolidation. | ||||||||||||||
| Summary information by operating segment was as follows (in thousands): | ||||||||||||||
| For the 14 Weeks Ended | For the 13 Weeks Ended | |||||||||||||
| April 5, 2014 | March 30, 2013 | |||||||||||||
| Net Sales | Operating | Net Sales | Operating | |||||||||||
| Income | Income | |||||||||||||
| North America wholesale: | ||||||||||||||
| External customers | $ | 272,796 | $ | 52,879 | $ | 255,165 | $ | 60,408 | ||||||
| Intersegment | 48,191 | 45,946 | ||||||||||||
| Europe wholesale: | ||||||||||||||
| External customers | 205,663 | 51,960 | 173,906 | 38,547 | ||||||||||
| Intersegment | 49,198 | 40,688 | ||||||||||||
| Asia Pacific wholesale: | ||||||||||||||
| External customers | 103,560 | 31,120 | 86,776 | 27,550 | ||||||||||
| Intersegment | 244,147 | 202,196 | ||||||||||||
| Direct to consumer | 194,525 | 16,286 | 165,052 | 7,112 | ||||||||||
| Intersegment items | (341,536 | ) | (288,830 | ) | ||||||||||
| Corporate | (47,547 | ) | (39,296 | ) | ||||||||||
| Consolidated | $ | 776,544 | $ | 104,698 | $ | 680,899 | $ | 94,321 | ||||||
| The following tables reflect net sales for each class of similar products in the periods presented (in thousands, except percentage data): | ||||||||||||||
| For the 14 Weeks Ended | For the 13 Weeks Ended | |||||||||||||
| April 5, 2014 | March 30, 2013 | |||||||||||||
| Net Sales | Percentage of | Net Sales | Percentage of | |||||||||||
| Total | Total | |||||||||||||
| Watches | $ | 601,388 | 77.5 | % | $ | 513,017 | 75.3 | % | ||||||
| Leathers | 99,722 | 12.8 | 102,788 | 15.1 | ||||||||||
| Jewelry | 56,518 | 7.3 | 42,314 | 6.2 | ||||||||||
| Other | 18,916 | 2.4 | 22,780 | 3.4 | ||||||||||
| Total | $ | 776,544 | 100 | % | $ | 680,899 | 100 | % | ||||||
DERIVATIVES_AND_RISK_MANAGEMEN
| DERIVATIVES AND RISK MANAGEMENT | 3 Months Ended | |||||||||||||||||||||
| Apr. 05, 2014 | ||||||||||||||||||||||
| DERIVATIVES AND RISK MANAGEMENT | ' | |||||||||||||||||||||
| DERIVATIVES AND RISK MANAGEMENT | ' | |||||||||||||||||||||
| 10. DERIVATIVES AND RISK MANAGEMENT | ||||||||||||||||||||||
| Cash Flow Hedges. The primary risks managed by using derivative instruments are the fluctuations in global currencies that will ultimately be used by non-U.S. dollar functional currency subsidiaries to settle future payments of intercompany inventory transactions denominated in U.S. dollars. Specifically, the Company projects future intercompany purchases by its non-U.S. dollar functional currency subsidiaries generally over a period of up to 18 months. The Company enters into foreign currency forward contracts (“forward contracts”) generally for up to 65% of the forecasted purchases to manage fluctuations in global currencies that will ultimately be used to settle such U.S. dollar denominated inventory purchases. Forward contracts represent agreements to exchange the currency of one country for the currency of another country at an agreed-upon settlement date and exchange rate. These forward contracts are designated as single cash flow hedges. Fluctuations in exchange rates will either increase or decrease the Company’s U.S. dollar equivalent cash flows from these intercompany inventory transactions, which will affect the Company’s U.S. dollar earnings. Gains or losses on the forward contracts are expected to offset these fluctuations to the extent the cash flows are hedged by the forward contracts | ||||||||||||||||||||||
| These forward contracts meet the criteria for hedge eligibility, which requires that they represent foreign-currency-denominated forecasted intra-entity transactions in which (i) the operating unit that has the foreign currency exposure is a party to the hedging instrument and (ii) the hedged transaction is denominated in a currency other than the hedging unit’s functional currency. | ||||||||||||||||||||||
| At the inception of each forward contract designated as a cash flow hedge the hedging relationship is expected to be highly effective in achieving offsetting cash flows attributable to the hedged risk. The Company assesses hedge effectiveness under the critical terms matched method at inception and at least quarterly throughout the life of the hedging relationship. If the critical terms (i.e., amounts, currencies and settlement dates) of the forward contract match the terms of the forecasted transaction, the Company concludes that the hedge is effective. | ||||||||||||||||||||||
| For a derivative instrument that is designated and qualifies as a cash flow hedge, the effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income (loss), net of taxes and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings. Due to the high degree of effectiveness between the hedging instruments and the underlying exposures being hedged, the Company’s hedges resulted in no ineffectiveness in the condensed consolidated statements of income and comprehensive income, and there were no components excluded from the assessment of hedge effectiveness for the First Quarter and Prior Year Quarter. | ||||||||||||||||||||||
| All derivative instruments are recognized as either assets or liabilities at fair value in the condensed consolidated balance sheets. Derivatives designated as cash flow hedges are recorded at fair value at each balance sheet date and the change in fair value is recorded to accumulated other comprehensive income (loss) within the equity section of the Company’s condensed consolidated balance sheet until such derivative’s gains or losses become realized or the cash flow hedge relationship is terminated. If the cash flow hedge relationship is terminated, the derivative’s gains or losses that are recorded in accumulated other comprehensive income (loss) will be recognized in earnings when the hedged cash flows occur. However, for cash flow hedges that are terminated because the forecasted transaction is not expected to occur in the original specified time period, the derivative’s gains or losses are immediately recognized in earnings. There were no gains or losses reclassified into earnings as a result of the discontinuance of cash flow hedges in the First Quarter and Prior Year Quarter. Hedge accounting is discontinued if it is determined that the derivative is not highly effective. The Company records all forward contract hedge assets and liabilities on a gross basis as they do not meet the balance sheet netting criteria because the Company does not have master netting agreements established with the derivative counterparties that would allow for net settlement. | ||||||||||||||||||||||
| As of April 5, 2014, the Company had the following outstanding forward contracts that were entered into to hedge the future payments of intercompany inventory transactions (in millions): | ||||||||||||||||||||||
| Functional Currency | Contract Currency | |||||||||||||||||||||
| Type | Amount | Type | Amount | |||||||||||||||||||
| Euro | 176.5 | U.S. Dollar | 238.3 | |||||||||||||||||||
| British Pound | 21 | U.S. Dollar | 33.4 | |||||||||||||||||||
| Canadian Dollar | 30.5 | U.S. Dollar | 28.5 | |||||||||||||||||||
| Japanese Yen | 2,312.00 | U.S. Dollar | 23.4 | |||||||||||||||||||
| Australian Dollar | 13.2 | U.S. Dollar | 11.8 | |||||||||||||||||||
| Mexican Peso | 145.7 | U.S. Dollar | 11 | |||||||||||||||||||
| The Company is also exposed to interest rate risk related to its $250 million U.S.-based term loan (“Term Loan”). To manage the interest rate risk related to this loan, the Company entered into an interest rate swap agreement on July 26, 2013 with a term of approximately five years. The objective of this hedge is to offset the variability of future payments associated with interest rates on the Term Loan. The interest rate swap agreement hedges the 1-month London Interbank Offer Rate (“LIBOR”) based variable rate debt obligations under the Term Loan. Under the terms of the swap, the Company pays a fixed interest rate of 1.288% per annum to the swap counterparty, which will amortize over the remaining life of the Term Loan to coincide with the amortization of the underlying loan. The Company will receive interest from the swap counterparty at a variable rate based on 1-month LIBOR. This hedge is designated as a cash flow hedge. | ||||||||||||||||||||||
| Net Investment Hedge. The Company is also exposed to risk that adverse changes in exchange rates could impact its net investment in foreign operations. To manage this risk, during the First Quarter, the Company entered into a forward contract designated as a net investment hedge to reduce exposure to changes in currency exchange rates on €25.0 million of its total investment in a wholly-owned Euro-denominated foreign subsidiary. The hedge will be settled in June 2014. The effective portion of derivatives designated as net investment hedges are recorded at fair value at each balance sheet date and the change in fair value is recorded as a component of other comprehensive income (loss) in the Company’s condensed consolidated statements of income and comprehensive income. The Company uses the hypothetical derivative method to access the ineffectiveness of its net investment hedge. Should any portion of the net investment hedge become ineffective, the ineffective portion will be reclassified to other (expense) income, net on the Company’s condensed consolidated statements of income and comprehensive income. Gains and losses reported in accumulated other comprehensive income will not be reclassified into earnings until the Company’s underlying investment is liquidated or dissolved. | ||||||||||||||||||||||
| Non-designated Hedges. The Company also periodically enters into forward contracts to manage exchange rate risks associated with certain non-inventory intercompany transactions and to which the Company does not elect hedge treatment. All of the Company’s outstanding forward contracts were designated as hedging instruments as of April 5, 2014 and December 28, 2013. Changes in the fair value of derivatives not designated as hedging instruments are recognized in earnings when they occur. | ||||||||||||||||||||||
| The effective portion of gains and losses on derivative instruments that was recognized in other comprehensive income (loss), net of taxes during the First Quarter and Prior Year Quarter is set forth below (in thousands): | ||||||||||||||||||||||
| For the 14 Weeks | For the 13 Weeks | |||||||||||||||||||||
| Derivative Contracts | Ended | Ended | ||||||||||||||||||||
| Under ASC 815 | April 5, 2014 | March 30, 2013 | ||||||||||||||||||||
| Cash flow hedges: | ||||||||||||||||||||||
| Foreign exchange forward contracts | $ | (348 | ) | $ | 3,345 | |||||||||||||||||
| Interest rate swap | (538 | ) | 0 | |||||||||||||||||||
| Net investment hedge | 162 | 0 | ||||||||||||||||||||
| Total (loss) gain recognized in other comprehensive loss, net of taxes | $ | (724 | ) | $ | 3,345 | |||||||||||||||||
| The following table illustrates the effective portion of gains and losses on derivative instruments recorded in other comprehensive loss, net of taxes during the term of the hedging relationship and reclassified into earnings, and gains and losses on derivatives not designated as hedging instruments recorded directly to earnings during the First Quarter and Prior Year Quarter (in thousands): | ||||||||||||||||||||||
| Condensed | ||||||||||||||||||||||
| Consolidated | ||||||||||||||||||||||
| Statements of Income | ||||||||||||||||||||||
| and Comprehensive | For the 14 Weeks | For the 13 Weeks | ||||||||||||||||||||
| Derivative Contracts | Income | Ended | Ended | |||||||||||||||||||
| Under ASC 815 | Location | April 5, 2014 | March 30, 2013 | |||||||||||||||||||
| Foreign exchange contracts designated as cash flow hedging instruments | Other (expense) income-net | Total loss reclassified from other comprehensive loss | $ | (498 | ) | $ | (46 | ) | ||||||||||||||
| Foreign exchange contracts not designated as hedging instruments | Other (expense) income-net | Total loss recognized in income | $ | (148 | ) | $ | 0 | |||||||||||||||
| Interest rate swap designated as cash flow hedging instruments | Interest expense | Total loss reclassified from other comprehensive loss | $ | (465 | ) | $ | 0 | |||||||||||||||
| The following table discloses the fair value amounts for the Company’s derivative instruments as separate asset and liability values, presents the fair value of derivative instruments on a gross basis, and identifies the line items in the condensed consolidated balance sheets in which the fair value amounts for these categories of derivative instruments are included (in thousands): | ||||||||||||||||||||||
| Asset Derivatives | Liability Derivatives | |||||||||||||||||||||
| April 5, 2014 | December 28, 2013 | April 5, 2014 | December 28, 2013 | |||||||||||||||||||
| Condensed | Condensed | Condensed | Condensed | |||||||||||||||||||
| Consolidated | Consolidated | Consolidated | Consolidated | |||||||||||||||||||
| Derivative Contracts Under | Balance | Fair | Balance | Fair | Balance | Fair | Balance | Fair | ||||||||||||||
| ASC 815 | Sheets Location | Value | Sheets Location | Value | Sheets Location | Value | Sheets Location | Value | ||||||||||||||
| Foreign exchange contracts designated as cash flow hedging instruments | Prepaid expenses and other current assets | $ | 2,279 | Prepaid expenses and other current assets | $ | 3,289 | Accrued expenses- other | $ | 5,859 | Accrued expenses- other | $ | 7,651 | ||||||||||
| Interest rate contracts designated as cash flow hedging instruments | Prepaid expenses and other current assets | 0 | Prepaid expenses and other current assets | 0 | Accrued expenses- other | 2,617 | Accrued expenses- other | 2,783 | ||||||||||||||
| Foreign exchange contracts designated as net investment hedges | Prepaid expenses and other current assets | 255 | Prepaid expenses and other current assets | 0 | Prepaid expenses and other current assets | 0 | Prepaid expenses and other current assets | 0 | ||||||||||||||
| Foreign exchange contracts designated as cash flow hedging instruments | Intangible and other assets- net | 218 | Intangible and other assets- net | 219 | Other long-term liabilities | 185 | Other long-term liabilities | 563 | ||||||||||||||
| Interest rate contracts designated as cash flow hedging instruments | Intangible and other assets- net | 3,658 | Intangible and other assets- net | 4,307 | Other long-term liabilities | 1,322 | Other long-term liabilities | 1,693 | ||||||||||||||
| Total | $ | 6,410 | $ | 7,815 | $ | 9,983 | $ | 12,690 | ||||||||||||||
| At the end of the First Quarter, the Company had forward contracts with maturities extending through September 2015. The estimated net amount of the existing gains or losses at April 5, 2014 that is expected to be reclassified into earnings within the next twelve months is a loss of $2.3 million. See “Note 1—Financial Statement Policies” for additional disclosures on foreign currency hedging instruments. | ||||||||||||||||||||||
FAIR_VALUE_MEASUREMENTS
| FAIR VALUE MEASUREMENTS | 3 Months Ended | ||||||||||||||||
| Apr. 05, 2014 | |||||||||||||||||
| FAIR VALUE MEASUREMENTS | ' | ||||||||||||||||
| FAIR VALUE MEASUREMENTS | ' | ||||||||||||||||
| 11. FAIR VALUE MEASUREMENTS | |||||||||||||||||
| The Company defines fair value as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. | |||||||||||||||||
| ASC 820, Fair Value Measurement and Disclosures (“ASC 820”), 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 quoted prices in active markets, that are observable either directly or indirectly. | |||||||||||||||||
| · Level 3 — Unobservable inputs based on the Company’s assumptions. | |||||||||||||||||
| ASC 820 requires the use of observable market data if such data is available without undue cost and effort. | |||||||||||||||||
| The following table presents the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of April 5, 2014 (in thousands): | |||||||||||||||||
| Fair Value at April 5, 2014 | |||||||||||||||||
| Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
| Assets: | |||||||||||||||||
| Forward contracts | $ | 0 | $ | 2,752 | $ | 0 | $ | 2,752 | |||||||||
| Deferred compensation plan assets: | |||||||||||||||||
| Investment in publicly traded mutual funds | 2,424 | 0 | 0 | 2,424 | |||||||||||||
| Interest rate swap | 0 | 3,658 | 0 | 3,658 | |||||||||||||
| Total | $ | 2,424 | $ | 6,410 | $ | 0 | $ | 8,834 | |||||||||
| Liabilities: | |||||||||||||||||
| Contingent consideration | $ | 0 | $ | 0 | $ | 8,053 | $ | 8,053 | |||||||||
| Forward contracts | 0 | 6,044 | 0 | 6,044 | |||||||||||||
| Interest rate swap | 0 | 3,939 | 0 | 3,939 | |||||||||||||
| Total | $ | 0 | $ | 9,983 | $ | 8,053 | $ | 18,036 | |||||||||
| The following table presents the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of December 28, 2013 (in thousands): | |||||||||||||||||
| Fair Value at December 28, 2013 | |||||||||||||||||
| Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
| Assets: | |||||||||||||||||
| Forward contracts | $ | 0 | $ | 3,508 | $ | 0 | $ | 3,508 | |||||||||
| Deferred compensation plan assets: | |||||||||||||||||
| Investment in publicly traded mutual funds | 2,360 | 0 | 0 | 2,360 | |||||||||||||
| Interest rate swap | 0 | 4,307 | 0 | 4,307 | |||||||||||||
| Total | $ | 2,360 | $ | 7,815 | $ | 0 | $ | 10,175 | |||||||||
| Liabilities: | |||||||||||||||||
| Contingent consideration | $ | 0 | $ | 0 | $ | 8,084 | 8,084 | ||||||||||
| Forward contracts | 0 | 8,214 | 0 | 8,214 | |||||||||||||
| Interest rate swap | 0 | 4,476 | 0 | 4,476 | |||||||||||||
| Total | $ | 0 | $ | 12,690 | $ | 8,084 | $ | 20,774 | |||||||||
| The fair values of the Company’s securities available for sale and deferred compensation plan assets are based on quoted prices. The deferred compensation plan assets are recorded in intangible and other assets-net in the Company’s condensed consolidated balance sheets. The fair values of the Company’s forward contracts are based on published quotations of spot currency rates and forward points, which are converted into implied forward currency rates. | |||||||||||||||||
| The Company has evaluated its short-term and long-term debt as of April 5, 2014 and December 28, 2013 and believes, based on the interest rates, related terms and maturities, that the fair values of such instruments approximated their carrying amounts. As of April 5, 2014 and December 28, 2013, the carrying values of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities approximated their values due to the short-term maturities of these accounts. | |||||||||||||||||
| The fair value of the contingent consideration liability related to Fossil Spain was determined using Level 3 inputs. See “Note 2 — Acquisitions, Divestiture and Goodwill” for additional disclosure about the acquisition. The contingent consideration is based on Fossil Spain’s forecasted earnings during the three year period from January 1, 2013 to December 31, 2015. The contingent consideration for calendar years 2013 and 2014 will be paid each year, generally within thirty days of calculation of the amount. The contingent consideration for calendar year 2015 will be paid upon the execution of the purchase agreement in 2016. The fair value of the contingent consideration was determined using present value techniques with forecasted future cash flows for Fossil Spain as the significant unobservable input. Future revenue growth based on management’s projections for calendar years 2014 and 2015 ranges from 3% to 10%. Operating expenses are projected to be approximately 28% of revenues for calendar years 2014 and 2015. A discount rate of 19% was used to calculate the present value of the contingent consideration. An increase in future cash flows may result in a higher estimated fair value of the contingent consideration liability. Alternatively, a decrease in future cash flows may result in a lower estimated fair value of the contingent consideration liability. Future changes in the estimated fair value of the contingent consideration liability, if any, will be reflected in earnings. | |||||||||||||||||
| The fair values of the interest rate swap asset and liability are determined using valuation models based on market observable inputs, including forward curves, mid-market price, foreign exchange spot or forward rates, and volatility levels. See “Note 10—Derivatives and Risk Management” for additional disclosures about the interest rate swap. | |||||||||||||||||
| The following table presents the fair value hierarchy for those assets and liabilities measured at fair value on a nonrecurring basis as of April 5, 2014 (in thousands): | |||||||||||||||||
| For the 14 Weeks | Fair Value Measurements Using | Total | |||||||||||||||
| Ended | Impairment | ||||||||||||||||
| April 5, 2014 | Level 1 | Level 2 | Level 3 | Charge | |||||||||||||
| Assets: | |||||||||||||||||
| Specific Company-owned stores | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | (282 | ) | ||||||
| In accordance with the provisions of ASC 360, Property, Plant and Equipment, property, plant and equipment—net with a carrying amount of $0.3 million related to Company-owned retail store leasehold improvements and fixturing was fully impaired, resulting in an impairment charge of $0.3 million for the First Quarter. | |||||||||||||||||
| The fair values of assets related to the Company-owned retail stores were determined using Level 3 inputs. If undiscounted cash flows estimated to be generated through the operation of Company-owned retail stores are less than the carrying value of the underlying assets, the assets are impaired. If it is determined that the assets are impaired, the fair value of the assets is calculated using future estimated discounted cash flows, and then an impairment loss is recorded for the amount by which the assets’ book value exceeds their fair value. Impairment expenses related to Company-owned retail stores are recorded in selling, general and administrative expense within the Direct to consumer segment. | |||||||||||||||||
INTANGIBLE_AND_OTHER_ASSETS
| INTANGIBLE AND OTHER ASSETS | 3 Months Ended | |||||||||||||||
| Apr. 05, 2014 | ||||||||||||||||
| INTANGIBLE AND OTHER ASSETS | ' | |||||||||||||||
| INTANGIBLE AND OTHER ASSETS | ' | |||||||||||||||
| 12. INTANGIBLE AND OTHER ASSETS | ||||||||||||||||
| The following table summarizes intangible and other assets (in thousands): | ||||||||||||||||
| April 5, 2014 | December 28, 2013 | |||||||||||||||
| Useful | Gross | Accumulated | Gross | Accumulated | ||||||||||||
| Lives | Amount | Amortization | Amount | Amortization | ||||||||||||
| Intangibles-subject to amortization: | ||||||||||||||||
| Trademarks | 10 yrs. | $ | 4,175 | $ | 2,760 | $ | 4,175 | $ | 2,695 | |||||||
| Customer lists | 5-10 yrs. | 43,301 | 15,028 | 43,367 | 14,065 | |||||||||||
| Patents | 3-20 yrs. | 2,273 | 1,496 | 2,273 | 1,360 | |||||||||||
| Noncompete agreement | 6 yrs. | 1,911 | 637 | 1,913 | 558 | |||||||||||
| Other | 7-20 yrs. | 283 | 210 | 263 | 207 | |||||||||||
| Total intangibles-subject to amortization | 51,943 | 20,131 | 51,991 | 18,885 | ||||||||||||
| Intangibles-not subject to amortization: | ||||||||||||||||
| Trade names | 83,658 | 83,659 | ||||||||||||||
| Other assets: | ||||||||||||||||
| Key money deposits | 35,979 | 17,871 | 35,535 | 17,038 | ||||||||||||
| Other deposits | 23,563 | 22,574 | ||||||||||||||
| Deferred compensation plan assets | 2,424 | 2,360 | ||||||||||||||
| Deferred tax asset-net | 10,104 | 10,044 | ||||||||||||||
| Restricted cash | 753 | 752 | ||||||||||||||
| Shop-in-shop | 16,641 | 8,500 | 16,334 | 7,767 | ||||||||||||
| Interest rate swap | 3,658 | 4,307 | ||||||||||||||
| Other | 2,290 | 4,466 | ||||||||||||||
| Total other assets | 95,412 | 26,371 | 96,372 | 24,805 | ||||||||||||
| Total intangible and other assets | $ | 231,013 | $ | 46,502 | $ | 232,022 | $ | 43,690 | ||||||||
| Total intangible and other assets-net | $ | 184,511 | $ | 188,332 | ||||||||||||
| Key money is the amount of funds paid to a landlord or tenant to acquire the rights of tenancy under a commercial property lease for a certain property. Key money represents the “right to lease” with an automatic right of renewal. This right can be subsequently sold by the Company or can be recovered should the landlord refuse to allow the automatic right of renewal to be exercised. Key money is amortized over the initial lease term, which ranges from approximately four to 18 years. | ||||||||||||||||
| Amortization expense for intangible assets was approximately $1.3 million for both the First Quarter and Prior Year Quarter. Estimated aggregate future amortization expense by fiscal year for intangible assets is as follows (in thousands): | ||||||||||||||||
| Fiscal Year | Amortization | |||||||||||||||
| Expense | ||||||||||||||||
| 2014 (remaining) | $ | 3,887 | ||||||||||||||
| 2015 | 4,793 | |||||||||||||||
| 2016 | 4,654 | |||||||||||||||
| 2017 | 4,396 | |||||||||||||||
| 2018 | 4,030 | |||||||||||||||
| 2019 | 3,932 | |||||||||||||||
COMMITMENTS_AND_CONTINGENCIES
| COMMITMENTS AND CONTINGENCIES | 3 Months Ended |
| Apr. 05, 2014 | |
| COMMITMENTS AND CONTINGENCIES | ' |
| COMMITMENTS AND CONTINGENCIES | ' |
| 13. COMMITMENTS AND CONTINGENCIES | |
| Litigation. The Company is occasionally subject to litigation or other legal proceedings in the normal course of its business. The Company does not believe that the outcome of any currently pending legal matters, individually or collectively, will have a material effect on the business or financial condition of the Company. | |
DEBT_ACTIVITY
| DEBT ACTIVITY | 3 Months Ended |
| Apr. 05, 2014 | |
| DEBT ACTIVITY | ' |
| DEBT ACTIVITY | ' |
| 14. DEBT ACTIVITY | |
| During the First Quarter, the Company made principal payments of $6.3 million under its Term Loan. During the First Quarter, the Company also had net borrowings of $40.0 million under its U.S. revolving line of credit (the “Revolver”) which was used primarily to fund common stock repurchases, capital expenditures and normal operating expenses. Amounts available under the Revolver are reduced by any amounts outstanding under standby letters of credit. As of April 5, 2014, the Company had available borrowings of approximately $458.9 million under the Revolver. Amounts available under the Revolver were favorably impacted by a $182.0 million international cash balance. The Company incurred approximately $0.9 million and $1.3 million of interest expense related to the Term Loan and Revolver, respectively, during the First Quarter. The Company was in compliance with all covenants in the Term Loan and Revolver as of April 5, 2014. | |
FINANCIAL_STATEMENT_POLICIES_P
| FINANCIAL STATEMENT POLICIES (Policies) | 3 Months Ended | |||||||
| Apr. 05, 2014 | ||||||||
| FINANCIAL STATEMENT POLICIES | ' | |||||||
| Basis of Presentation | ' | |||||||
| Basis of Presentation. The condensed consolidated financial statements include the accounts of Fossil Group, Inc., a Delaware corporation, and its wholly and majority-owned subsidiaries (the “Company”). | ||||||||
| The Company’s fiscal year periodically results in a 53-week year instead of a normal 52-week year. The current fiscal year ending January 3, 2015 is a 53-week year, with the additional week being included in the first quarter. Accordingly, the information presented herein includes fourteen weeks of operations for the quarter ended April 5, 2014 (“First Quarter”) as compared to thirteen weeks included in the quarter ended March 30, 2013 (“Prior Year Quarter”). The condensed consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary to present a fair statement of the Company’s financial position as of April 5, 2014, and the results of operations for the First Quarter and Prior Year Quarter. All adjustments are of a normal, recurring nature. | ||||||||
| These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Annual Report on Form 10-K filed by the Company pursuant to the Securities Exchange Act of 1934, as amended (the “Exchange Act”), for the fiscal year ended December 28, 2013 (the “2013 Form 10-K”). Operating results for the First Quarter and Prior Year Quarter are not necessarily indicative of the results to be achieved for the full fiscal year. | ||||||||
| The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), 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 date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the periods reported. Actual results could differ from those estimates. The Company has not made any changes in its significant accounting policies from those disclosed in the 2013 Form 10-K. | ||||||||
| Business | ' | |||||||
| Business. The Company is a global design, marketing and distribution company that specializes in consumer fashion accessories. Its principal offerings include an extensive line of men’s and women’s fashion watches and jewelry, handbags, small leather goods, belts, sunglasses, soft accessories and clothing. In the watch and jewelry product categories, the Company has a diverse portfolio of globally recognized owned and licensed brand names under which its products are marketed. The Company’s products are distributed globally through various distribution channels, including wholesale in countries where it has a physical presence, direct to the consumer through its retail stores and commercial websites and through third-party distributors in countries where the Company does not maintain a physical presence. The Company’s products are offered at varying price points to meet the needs of its customers, whether they are value-conscious or luxury oriented. Based on its extensive range of accessory products, brands, distribution channels and price points, the Company is able to target style-conscious consumers across a wide age spectrum on a global basis. | ||||||||
| Hedging Instruments | ' | |||||||
| Hedging Instruments. The Company is exposed to certain market risks relating to foreign exchange rates and interest rates. The Company actively monitors and attempts to manage these exposures using derivative instruments including foreign currency forward contracts and an interest rate swap. The Company’s foreign subsidiaries periodically enter into foreign exchange forward contracts to hedge the future payment of intercompany inventory transactions denominated in U.S. dollars. If the Company was to settle its Euro, British Pound, Canadian Dollar, Japanese Yen, Australian Dollar, and Mexican Peso forward contracts as of April 5, 2014, the net result would have been a net loss of approximately $2.3 million, net of taxes. To help protect against adverse fluctuations in interest rates, the Company has entered into an interest rate swap agreement to effectively convert a portion of variable rate debt obligations from a floating rate to a fixed rate. To reduce exposure to changes in currency exchange rates adversely affecting the Company’s investment in a Euro-denominated subsidiary, the Company has entered into a forward contract designated as a net investment hedge. The Company does not hold or issue derivative financial instruments for trading or speculative purposes. | ||||||||
| The Company applies the hedge accounting rules as required by Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging (“ASC 815”). See “Note 10—Derivatives and Risk Management” for additional disclosures about the Company’s use of derivatives. | ||||||||
| Earnings Per Share ("EPS") | ' | |||||||
| Earnings Per Share (“EPS”). Basic EPS is based on the weighted average number of common shares outstanding during each period. Diluted EPS adjusts basic EPS for the effects of dilutive common stock equivalents outstanding during each period using the treasury stock method. | ||||||||
| The following table reconciles the numerators and denominators used in the computations of both basic and diluted EPS (in thousands, except per share data): | ||||||||
| For the 14 | For the 13 | |||||||
| Weeks Ended | Weeks Ended | |||||||
| April 5, 2014 | March 30, 2013 | |||||||
| Numerator: | ||||||||
| Net income attributable to Fossil Group, Inc. | $ | 66,343 | $ | 72,186 | ||||
| Denominator: | ||||||||
| Basic EPS computations: | ||||||||
| Basic weighted average common shares outstanding | 54,125 | 59,393 | ||||||
| Basic EPS | $ | 1.23 | $ | 1.22 | ||||
| Diluted EPS computation: | ||||||||
| Basic weighted average common shares outstanding | 54,125 | 59,393 | ||||||
| Stock options, stock appreciation rights and restricted stock units | 226 | 390 | ||||||
| Diluted weighted average common shares outstanding | 54,351 | 59,783 | ||||||
| Diluted EPS | $ | 1.22 | $ | 1.21 | ||||
| Approximately 217,700 and 201,000 shares issuable under stock-based awards were not included in the diluted EPS calculation at the end of the First Quarter and Prior Year Quarter, respectively, because they were antidilutive. | ||||||||
FINANCIAL_STATEMENT_POLICIES_T
| FINANCIAL STATEMENT POLICIES (Tables) | 3 Months Ended | |||||||
| Apr. 05, 2014 | ||||||||
| FINANCIAL STATEMENT POLICIES | ' | |||||||
| Numerators and denominators used in the computations of both basic and diluted EPS | ' | |||||||
| The following table reconciles the numerators and denominators used in the computations of both basic and diluted EPS (in thousands, except per share data): | ||||||||
| For the 14 | For the 13 | |||||||
| Weeks Ended | Weeks Ended | |||||||
| April 5, 2014 | March 30, 2013 | |||||||
| Numerator: | ||||||||
| Net income attributable to Fossil Group, Inc. | $ | 66,343 | $ | 72,186 | ||||
| Denominator: | ||||||||
| Basic EPS computations: | ||||||||
| Basic weighted average common shares outstanding | 54,125 | 59,393 | ||||||
| Basic EPS | $ | 1.23 | $ | 1.22 | ||||
| Diluted EPS computation: | ||||||||
| Basic weighted average common shares outstanding | 54,125 | 59,393 | ||||||
| Stock options, stock appreciation rights and restricted stock units | 226 | 390 | ||||||
| Diluted weighted average common shares outstanding | 54,351 | 59,783 | ||||||
| Diluted EPS | $ | 1.22 | $ | 1.21 | ||||
ACQUISITIONS_DIVESTITURE_AND_G1
| ACQUISITIONS, DIVESTITURE AND GOODWILL (Tables) | 3 Months Ended | |||||||||||||
| Apr. 05, 2014 | ||||||||||||||
| ACQUISITIONS, DIVESTITURE AND GOODWILL | ' | |||||||||||||
| Schedule of changes in the carrying amount of goodwill | ' | |||||||||||||
| The changes in the carrying amount of goodwill, which is not subject to amortization, were as follows (in thousands): | ||||||||||||||
| North | Europe | Asia Pacific | Total | |||||||||||
| America | Wholesale | Wholesale | ||||||||||||
| Wholesale | ||||||||||||||
| Balance at December 28, 2013 | $ | 118,147 | $ | 77,217 | $ | 11,590 | $ | 206,954 | ||||||
| Foreign currency changes | (2 | ) | (274 | ) | (13 | ) | (289 | ) | ||||||
| Balance at April 5, 2014 | $ | 118,145 | $ | 76,943 | $ | 11,577 | $ | 206,665 | ||||||
INVENTORIES_Tables
| INVENTORIES (Tables) | 3 Months Ended | |||||||
| Apr. 05, 2014 | ||||||||
| INVENTORIES | ' | |||||||
| Schedule of inventories | ' | |||||||
| Inventories consisted of the following (in thousands): | ||||||||
| April 5, | December 28, | |||||||
| 2014 | 2013 | |||||||
| Components and parts | $ | 53,805 | $ | 56,275 | ||||
| Work-in-process | 7,704 | 14,017 | ||||||
| Finished goods | 540,353 | 500,427 | ||||||
| Inventories | $ | 601,862 | $ | 570,719 | ||||
WARRANTY_RESERVE_Tables
| WARRANTY RESERVE (Tables) | 3 Months Ended | |||||||
| Apr. 05, 2014 | ||||||||
| WARRANTY RESERVE | ' | |||||||
| Schedule of warranty liability activity | ' | |||||||
| Warranty liability activity consisted of the following (in thousands): | ||||||||
| For the 14 | For the 13 | |||||||
| Weeks Ended | Weeks Ended | |||||||
| April 5, 2014 | March 30, 2013 | |||||||
| Beginning balance | $ | 15,658 | $ | 13,383 | ||||
| Settlements in cash or kind | (3,163 | ) | (2,461 | ) | ||||
| Warranties issued and adjustments to preexisting warranties (1) | 3,364 | 2,396 | ||||||
| Liabilities assumed in acquisition | 0 | 340 | ||||||
| Ending balance | $ | 15,859 | $ | 13,658 | ||||
| (1) Changes in cost estimates related to preexisting warranties are aggregated with accruals for new standard warranties issued and foreign currency changes. | ||||||||
INCOME_TAXES_Tables
| INCOME TAXES (Tables) | 3 Months Ended | |||||||
| Apr. 05, 2014 | ||||||||
| INCOME TAXES | ' | |||||||
| Schedule of income tax expense and related effective rate | ' | |||||||
| The Company’s income tax expense and related effective rate were as follows (in thousands, except percentage data): | ||||||||
| For the 14 | For the 13 | |||||||
| Weeks Ended | Weeks Ended | |||||||
| April 5, 2014 | March 30, 2013 | |||||||
| Income tax expense | $ | 31,480 | $ | 28,894 | ||||
| Income tax rate | 31.3 | % | 28.1 | % | ||||
STOCKHOLDERS_EQUITY_Tables
| STOCKHOLDERS' EQUITY (Tables) | 3 Months Ended | ||||||||||||||||
| Apr. 05, 2014 | |||||||||||||||||
| STOCKHOLDERS' EQUITY | ' | ||||||||||||||||
| Schedule of common stock repurchase activity | ' | ||||||||||||||||
| The following table reflects the Company’s common stock repurchase activity for the period indicated (in millions): | |||||||||||||||||
| For the 14 Weeks Ended | For the 13 Weeks Ended | ||||||||||||||||
| April 5, 2014 | March 30, 2013 | ||||||||||||||||
| Fiscal Year Authorized | Dollar Value | Termination Date | Number of | Dollar Value | Number of | Dollar Value | |||||||||||
| Authorized | Shares | Repurchased | Shares | Repurchased | |||||||||||||
| Repurchased | Repurchased | ||||||||||||||||
| 2012 | $ | 1,000.00 | December 2016 | 1 | $ | 117.3 | 0.2 | $ | 18 | ||||||||
| 2010 | $ | 30 | None | 0 | $ | 0 | 0 | $ | 0 | ||||||||
| 2010 | $ | 750 | December 2013 (1) | 0 | $ | 0 | 0.4 | $ | 38.6 | ||||||||
| (1) In the Prior Year Quarter, the Company completed this repurchase plan. | |||||||||||||||||
| Summary of changes in equity attributable to controlling and noncontrolling interest | ' | ||||||||||||||||
| The following tables summarize the changes in equity attributable to controlling and noncontrolling interest (in thousands): | |||||||||||||||||
| Fossil Group, | |||||||||||||||||
| Inc. | Total | ||||||||||||||||
| Stockholders’ | Noncontrolling | Stockholders’ | |||||||||||||||
| Equity | Interest | Equity | |||||||||||||||
| Balance at December 28, 2013 | $ | 1,068,677 | $ | 6,690 | $ | 1,075,367 | |||||||||||
| Net income | 66,343 | 2,818 | 69,161 | ||||||||||||||
| Currency translation adjustment | (1,125 | ) | 0 | (1,125 | ) | ||||||||||||
| Derivative instruments - net change | 239 | 0 | 239 | ||||||||||||||
| Common stock issued upon exercise of stock options and stock appreciation rights | 759 | 0 | 759 | ||||||||||||||
| Tax benefit derived from stock-based compensation | 938 | 0 | 938 | ||||||||||||||
| Distribution of noncontrolling interest earnings and other | 0 | (5,391 | ) | (5,391 | ) | ||||||||||||
| Acquisition of common stock | (119,715 | ) | 0 | (119,715 | ) | ||||||||||||
| Stock-based compensation expense | 4,978 | 0 | 4,978 | ||||||||||||||
| Balance at April 5, 2014 | $ | 1,021,094 | $ | 4,117 | $ | 1,025,211 | |||||||||||
| Fossil Group, | |||||||||||||||||
| Inc. | Total | ||||||||||||||||
| Stockholders’ | Noncontrolling | Stockholders’ | |||||||||||||||
| Equity | Interest | Equity | |||||||||||||||
| Balance at December 29, 2012 | $ | 1,233,535 | $ | 6,929 | $ | 1,240,464 | |||||||||||
| Net income | 72,186 | 1,794 | 73,980 | ||||||||||||||
| Currency translation adjustment | (19,837 | ) | 0 | (19,837 | ) | ||||||||||||
| Unrealized loss on securities available for sale | (71 | ) | 0 | (71 | ) | ||||||||||||
| Forward contracts hedging intercompany foreign currency payments - change in fair values | 3,391 | 0 | 3,391 | ||||||||||||||
| Common stock issued upon exercise of stock options and stock appreciation rights | 1,991 | 0 | 1,991 | ||||||||||||||
| Tax benefit derived from stock-based compensation | 4,082 | 0 | 4,082 | ||||||||||||||
| Distribution of noncontrolling interest earnings | 0 | (4 | ) | (4 | ) | ||||||||||||
| Acquisition of common stock | (61,188 | ) | 0 | (61,188 | ) | ||||||||||||
| Stock-based compensation expense | 2,546 | 0 | 2,546 | ||||||||||||||
| Balance at March 30, 2013 | $ | 1,236,635 | $ | 8,719 | $ | 1,245,354 | |||||||||||
EMPLOYEE_BENEFIT_PLANS_Tables
| EMPLOYEE BENEFIT PLANS (Tables) | 3 Months Ended | |||||||||||||
| Apr. 05, 2014 | ||||||||||||||
| EMPLOYEE BENEFIT PLANS | ' | |||||||||||||
| Summary of stock options and stock appreciation rights activity | ' | |||||||||||||
| Weighted- | ||||||||||||||
| Average | ||||||||||||||
| Weighted- | Remaining | Aggregate | ||||||||||||
| Average | Contractual | Intrinsic | ||||||||||||
| Stock Options and Stock Appreciation Rights | Shares | Exercise Price | Term (Years) | Value | ||||||||||
| in thousands | in thousands | |||||||||||||
| Outstanding at December 28, 2013 | 678 | $ | 76.15 | 6.2 | $ | 31,794 | ||||||||
| Granted | 84 | 113.04 | ||||||||||||
| Exercised | (21 | ) | 36.01 | 1,758 | ||||||||||
| Forfeited or expired | (3 | ) | 117.39 | |||||||||||
| Outstanding at April 5, 2014 | 738 | 81.38 | 6.2 | 28,427 | ||||||||||
| Exercisable at April 5, 2014 | 538 | $ | 68.86 | 5.7 | $ | 27,277 | ||||||||
| Summary of stock options and stock appreciation rights outstanding and exercisable | ' | |||||||||||||
| The following table summarizes information with respect to stock options and stock appreciation rights outstanding and exercisable at April 5, 2014: | ||||||||||||||
| Stock Options Outstanding | Stock Options Exercisable | |||||||||||||
| Weighted- | ||||||||||||||
| Weighted- | Average | Weighted- | ||||||||||||
| Average | Remaining | Average | ||||||||||||
| Range of | Number of | Exercise | Contractual | Number of | Exercise | |||||||||
| Exercise Prices | Shares | Price | Term (Years) | Shares | Price | |||||||||
| in thousands | in thousands | |||||||||||||
| $13.65 - $21.51 | 77 | $ | 15.34 | 4.2 | 77 | $ | 15.34 | |||||||
| $21.51 - $34.59 | 60 | 29.39 | 2.8 | 60 | 29.39 | |||||||||
| $34.59 - $67.10 | 76 | 39.8 | 5.3 | 76 | 39.8 | |||||||||
| $67.10 - $116.88 | 111 | 80.91 | 7 | 107 | 80.76 | |||||||||
| $116.88 - $131.46 | 176 | 128.09 | 7.9 | 115 | 128.02 | |||||||||
| Total | 500 | $ | 75.04 | 6.1 | 435 | $ | 67.5 | |||||||
| Stock Appreciation Rights Outstanding | Stock Appreciation Rights Exercisable | |||||||||||||
| Weighted- | ||||||||||||||
| Weighted- | Average | Weighted- | ||||||||||||
| Average | Remaining | Average | ||||||||||||
| Range of | Number of | Exercise | Contractual | Number of | Exercise | |||||||||
| Exercise Prices | Shares | Price | Term (Years) | Shares | Price | |||||||||
| in thousands | in thousands | |||||||||||||
| $13.65 - $21.51 | 20 | $ | 13.65 | 3 | 20 | $ | 13.65 | |||||||
| $21.51 - $34.59 | 6 | 30.71 | 2 | 6 | 30.71 | |||||||||
| $34.59 - $67.10 | 16 | 42.68 | 4.3 | 14 | 39.87 | |||||||||
| $67.10 - $116.88 | 155 | 104.1 | 7.2 | 36 | 87.68 | |||||||||
| $116.88 - $131.46 | 41 | 127.91 | 5.8 | 27 | 127.91 | |||||||||
| Total | 238 | $ | 94.71 | 6.3 | 103 | $ | 74.6 | |||||||
| Summary of restricted stock and restricted stock unit activity | ' | |||||||||||||
| Restricted Stock and Restricted Stock Units | Number of Shares | Weighted-Average | ||||||||||||
| Grant Date Fair | ||||||||||||||
| Value | ||||||||||||||
| in thousands | ||||||||||||||
| Nonvested at December 28, 2013 | 219 | $ | 99.27 | |||||||||||
| Granted | 133 | 113.1 | ||||||||||||
| Vested | (87 | ) | 86.2 | |||||||||||
| Forfeited | (2 | ) | 103.26 | |||||||||||
| Nonvested at April 5, 2014 | 263 | $ | 110.6 | |||||||||||
ACCUMULATED_OTHER_COMPREHENSIV1
| ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables) | 3 Months Ended | |||||||||||||||||||
| Apr. 05, 2014 | ||||||||||||||||||||
| ACCUMULATED OTHER COMPREHENSIVE INCOME | ' | |||||||||||||||||||
| Schedule of changes in the balances of each component of accumulated other comprehensive income, net of taxes | ' | |||||||||||||||||||
| The following table illustrates changes in the balances of each component of accumulated other comprehensive income, net of taxes (in thousands): | ||||||||||||||||||||
| For the 14 Weeks Ended April 5, 2014 | ||||||||||||||||||||
| Currency | Forward | Interest Rate | Net | Pension | Total | |||||||||||||||
| Translation | Contracts | Swap | Investment | Plan | ||||||||||||||||
| Adjustments | Hedges | |||||||||||||||||||
| Beginning balance | $ | 38,152 | $ | (2,091 | ) | $ | (106 | ) | $ | 0 | $ | 736 | $ | 36,691 | ||||||
| Other comprehensive (loss) income before reclassifications, net of tax benefit of $288 | (1,125 | ) | (348 | ) | (538 | ) | 162 | 0 | (1,849 | ) | ||||||||||
| Amounts reclassed from accumulated other comprehensive (loss) income, net of tax benefit of $597 | 0 | (498 | ) | (465 | ) | 0 | 0 | (963 | ) | |||||||||||
| Total other comprehensive (loss) income | (1,125 | ) | 150 | (73 | ) | 162 | 0 | (886 | ) | |||||||||||
| Ending balance | $ | 37,027 | $ | (1,941 | ) | $ | (179 | ) | $ | 162 | $ | 736 | $ | 35,805 | ||||||
| For the 13 Weeks Ended March 30, 2013 | ||||||||||||||||||||
| Currency | Securities | Forward | Total | |||||||||||||||||
| Translation | Available for | Contracts | ||||||||||||||||||
| Adjustments | Sale | |||||||||||||||||||
| Beginning balance | $ | 30,181 | $ | (475 | ) | $ | (946 | ) | $ | 28,760 | ||||||||||
| Other comprehensive (loss) income before reclassifications, net of tax benefit of $3,474 | (19,837 | ) | (71 | ) | 3,345 | (16,563 | ) | |||||||||||||
| Amounts reclassed from accumulated other comprehensive (loss) income, net of tax expense of $87 | 0 | 0 | (46 | ) | (46 | ) | ||||||||||||||
| Total other comprehensive (loss) income | (19,837 | ) | (71 | ) | 3,391 | (16,517 | ) | |||||||||||||
| Ending balance | $ | 10,344 | $ | (546 | ) | $ | 2,445 | $ | 12,243 | |||||||||||
SEGMENT_INFORMATION_Tables
| SEGMENT INFORMATION (Tables) | 3 Months Ended | |||||||||||||
| Apr. 05, 2014 | ||||||||||||||
| SEGMENT INFORMATION | ' | |||||||||||||
| Summary information by operating segment | ' | |||||||||||||
| Summary information by operating segment was as follows (in thousands): | ||||||||||||||
| For the 14 Weeks Ended | For the 13 Weeks Ended | |||||||||||||
| April 5, 2014 | March 30, 2013 | |||||||||||||
| Net Sales | Operating | Net Sales | Operating | |||||||||||
| Income | Income | |||||||||||||
| North America wholesale: | ||||||||||||||
| External customers | $ | 272,796 | $ | 52,879 | $ | 255,165 | $ | 60,408 | ||||||
| Intersegment | 48,191 | 45,946 | ||||||||||||
| Europe wholesale: | ||||||||||||||
| External customers | 205,663 | 51,960 | 173,906 | 38,547 | ||||||||||
| Intersegment | 49,198 | 40,688 | ||||||||||||
| Asia Pacific wholesale: | ||||||||||||||
| External customers | 103,560 | 31,120 | 86,776 | 27,550 | ||||||||||
| Intersegment | 244,147 | 202,196 | ||||||||||||
| Direct to consumer | 194,525 | 16,286 | 165,052 | 7,112 | ||||||||||
| Intersegment items | (341,536 | ) | (288,830 | ) | ||||||||||
| Corporate | (47,547 | ) | (39,296 | ) | ||||||||||
| Consolidated | $ | 776,544 | $ | 104,698 | $ | 680,899 | $ | 94,321 | ||||||
| Schedule of net sales for each class of similar products | ' | |||||||||||||
| The following tables reflect net sales for each class of similar products in the periods presented (in thousands, except percentage data): | ||||||||||||||
| For the 14 Weeks Ended | For the 13 Weeks Ended | |||||||||||||
| April 5, 2014 | March 30, 2013 | |||||||||||||
| Net Sales | Percentage of | Net Sales | Percentage of | |||||||||||
| Total | Total | |||||||||||||
| Watches | $ | 601,388 | 77.5 | % | $ | 513,017 | 75.3 | % | ||||||
| Leathers | 99,722 | 12.8 | 102,788 | 15.1 | ||||||||||
| Jewelry | 56,518 | 7.3 | 42,314 | 6.2 | ||||||||||
| Other | 18,916 | 2.4 | 22,780 | 3.4 | ||||||||||
| Total | $ | 776,544 | 100 | % | $ | 680,899 | 100 | % | ||||||
DERIVATIVES_AND_RISK_MANAGEMEN1
| DERIVATIVES AND RISK MANAGEMENT (Tables) | 3 Months Ended | |||||||||||||||||||||
| Apr. 05, 2014 | ||||||||||||||||||||||
| Derivatives | ' | |||||||||||||||||||||
| Schedule of outstanding forward contracts | ' | |||||||||||||||||||||
| As of April 5, 2014, the Company had the following outstanding forward contracts that were entered into to hedge the future payments of intercompany inventory transactions (in millions): | ||||||||||||||||||||||
| Functional Currency | Contract Currency | |||||||||||||||||||||
| Type | Amount | Type | Amount | |||||||||||||||||||
| Euro | 176.5 | U.S. Dollar | 238.3 | |||||||||||||||||||
| British Pound | 21 | U.S. Dollar | 33.4 | |||||||||||||||||||
| Canadian Dollar | 30.5 | U.S. Dollar | 28.5 | |||||||||||||||||||
| Japanese Yen | 2,312.00 | U.S. Dollar | 23.4 | |||||||||||||||||||
| Australian Dollar | 13.2 | U.S. Dollar | 11.8 | |||||||||||||||||||
| Mexican Peso | 145.7 | U.S. Dollar | 11 | |||||||||||||||||||
| Schedule of effective portion of gains and losses on derivative instruments recognized in other comprehensive income (loss), net of taxes | ' | |||||||||||||||||||||
| The effective portion of gains and losses on derivative instruments that was recognized in other comprehensive income (loss), net of taxes during the First Quarter and Prior Year Quarter is set forth below (in thousands): | ||||||||||||||||||||||
| For the 14 Weeks | For the 13 Weeks | |||||||||||||||||||||
| Derivative Contracts | Ended | Ended | ||||||||||||||||||||
| Under ASC 815 | April 5, 2014 | March 30, 2013 | ||||||||||||||||||||
| Cash flow hedges: | ||||||||||||||||||||||
| Foreign exchange forward contracts | $ | (348 | ) | $ | 3,345 | |||||||||||||||||
| Interest rate swap | (538 | ) | 0 | |||||||||||||||||||
| Net investment hedge | 162 | 0 | ||||||||||||||||||||
| Total (loss) gain recognized in other comprehensive loss, net of taxes | $ | (724 | ) | $ | 3,345 | |||||||||||||||||
| Schedule of effective portion of gains and losses on derivative instruments recorded in other comprehensive income (loss), net of taxes during the term of the hedging relationship and reclassified into earnings and gains and losses on derivatives not designated as hedging instruments recorded | ' | |||||||||||||||||||||
| The following table illustrates the effective portion of gains and losses on derivative instruments recorded in other comprehensive loss, net of taxes during the term of the hedging relationship and reclassified into earnings, and gains and losses on derivatives not designated as hedging instruments recorded directly to earnings during the First Quarter and Prior Year Quarter (in thousands): | ||||||||||||||||||||||
| Condensed | ||||||||||||||||||||||
| Consolidated | ||||||||||||||||||||||
| Statements of Income | ||||||||||||||||||||||
| and Comprehensive | For the 14 Weeks | For the 13 Weeks | ||||||||||||||||||||
| Derivative Contracts | Income | Ended | Ended | |||||||||||||||||||
| Under ASC 815 | Location | April 5, 2014 | March 30, 2013 | |||||||||||||||||||
| Foreign exchange contracts designated as cash flow hedging instruments | Other (expense) income-net | Total loss reclassified from other comprehensive loss | $ | (498 | ) | $ | (46 | ) | ||||||||||||||
| Foreign exchange contracts not designated as hedging instruments | Other (expense) income-net | Total loss recognized in income | $ | (148 | ) | $ | 0 | |||||||||||||||
| Interest rate swap designated as cash flow hedging instruments | Interest expense | Total loss reclassified from other comprehensive loss | $ | (465 | ) | $ | 0 | |||||||||||||||
| Schedule of fair value amounts for derivative instruments as separate asset and liability values on a gross basis and their location on condensed consolidated balance sheets | ' | |||||||||||||||||||||
| The following table discloses the fair value amounts for the Company’s derivative instruments as separate asset and liability values, presents the fair value of derivative instruments on a gross basis, and identifies the line items in the condensed consolidated balance sheets in which the fair value amounts for these categories of derivative instruments are included (in thousands): | ||||||||||||||||||||||
| Asset Derivatives | Liability Derivatives | |||||||||||||||||||||
| April 5, 2014 | December 28, 2013 | April 5, 2014 | December 28, 2013 | |||||||||||||||||||
| Condensed | Condensed | Condensed | Condensed | |||||||||||||||||||
| Consolidated | Consolidated | Consolidated | Consolidated | |||||||||||||||||||
| Derivative Contracts Under | Balance | Fair | Balance | Fair | Balance | Fair | Balance | Fair | ||||||||||||||
| ASC 815 | Sheets Location | Value | Sheets Location | Value | Sheets Location | Value | Sheets Location | Value | ||||||||||||||
| Foreign exchange contracts designated as cash flow hedging instruments | Prepaid expenses and other current assets | $ | 2,279 | Prepaid expenses and other current assets | $ | 3,289 | Accrued expenses- other | $ | 5,859 | Accrued expenses- other | $ | 7,651 | ||||||||||
| Interest rate contracts designated as cash flow hedging instruments | Prepaid expenses and other current assets | 0 | Prepaid expenses and other current assets | 0 | Accrued expenses- other | 2,617 | Accrued expenses- other | 2,783 | ||||||||||||||
| Foreign exchange contracts designated as net investment hedges | Prepaid expenses and other current assets | 255 | Prepaid expenses and other current assets | 0 | Prepaid expenses and other current assets | 0 | Prepaid expenses and other current assets | 0 | ||||||||||||||
| Foreign exchange contracts designated as cash flow hedging instruments | Intangible and other assets- net | 218 | Intangible and other assets- net | 219 | Other long-term liabilities | 185 | Other long-term liabilities | 563 | ||||||||||||||
| Interest rate contracts designated as cash flow hedging instruments | Intangible and other assets- net | 3,658 | Intangible and other assets- net | 4,307 | Other long-term liabilities | 1,322 | Other long-term liabilities | 1,693 | ||||||||||||||
| Total | $ | 6,410 | $ | 7,815 | $ | 9,983 | $ | 12,690 | ||||||||||||||
FAIR_VALUE_MEASUREMENTS_Tables
| FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended | ||||||||||||||||
| Apr. 05, 2014 | |||||||||||||||||
| FAIR VALUE MEASUREMENTS | ' | ||||||||||||||||
| Schedule of the fair value hierarchy of assets and liabilities measured at fair value on a recurring basis | ' | ||||||||||||||||
| The following table presents the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of April 5, 2014 (in thousands): | |||||||||||||||||
| Fair Value at April 5, 2014 | |||||||||||||||||
| Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
| Assets: | |||||||||||||||||
| Forward contracts | $ | 0 | $ | 2,752 | $ | 0 | $ | 2,752 | |||||||||
| Deferred compensation plan assets: | |||||||||||||||||
| Investment in publicly traded mutual funds | 2,424 | 0 | 0 | 2,424 | |||||||||||||
| Interest rate swap | 0 | 3,658 | 0 | 3,658 | |||||||||||||
| Total | $ | 2,424 | $ | 6,410 | $ | 0 | $ | 8,834 | |||||||||
| Liabilities: | |||||||||||||||||
| Contingent consideration | $ | 0 | $ | 0 | $ | 8,053 | $ | 8,053 | |||||||||
| Forward contracts | 0 | 6,044 | 0 | 6,044 | |||||||||||||
| Interest rate swap | 0 | 3,939 | 0 | 3,939 | |||||||||||||
| Total | $ | 0 | $ | 9,983 | $ | 8,053 | $ | 18,036 | |||||||||
| The following table presents the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of December 28, 2013 (in thousands): | |||||||||||||||||
| Fair Value at December 28, 2013 | |||||||||||||||||
| Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
| Assets: | |||||||||||||||||
| Forward contracts | $ | 0 | $ | 3,508 | $ | 0 | $ | 3,508 | |||||||||
| Deferred compensation plan assets: | |||||||||||||||||
| Investment in publicly traded mutual funds | 2,360 | 0 | 0 | 2,360 | |||||||||||||
| Interest rate swap | 0 | 4,307 | 0 | 4,307 | |||||||||||||
| Total | $ | 2,360 | $ | 7,815 | $ | 0 | $ | 10,175 | |||||||||
| Liabilities: | |||||||||||||||||
| Contingent consideration | $ | 0 | $ | 0 | $ | 8,084 | 8,084 | ||||||||||
| Forward contracts | 0 | 8,214 | 0 | 8,214 | |||||||||||||
| Interest rate swap | 0 | 4,476 | 0 | 4,476 | |||||||||||||
| Total | $ | 0 | $ | 12,690 | $ | 8,084 | $ | 20,774 | |||||||||
| Schedule of the fair value hierarchy of assets and liabilities measured at fair value on a nonrecurring basis | ' | ||||||||||||||||
| The following table presents the fair value hierarchy for those assets and liabilities measured at fair value on a nonrecurring basis as of April 5, 2014 (in thousands): | |||||||||||||||||
| For the 14 Weeks | Fair Value Measurements Using | Total | |||||||||||||||
| Ended | Impairment | ||||||||||||||||
| April 5, 2014 | Level 1 | Level 2 | Level 3 | Charge | |||||||||||||
| Assets: | |||||||||||||||||
| Specific Company-owned stores | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | (282 | ) | ||||||
INTANGIBLE_AND_OTHER_ASSETS_Ta
| INTANGIBLE AND OTHER ASSETS (Tables) | 3 Months Ended | |||||||||||||||
| Apr. 05, 2014 | ||||||||||||||||
| INTANGIBLE AND OTHER ASSETS | ' | |||||||||||||||
| Schedule of intangible and other assets | ' | |||||||||||||||
| The following table summarizes intangible and other assets (in thousands): | ||||||||||||||||
| April 5, 2014 | December 28, 2013 | |||||||||||||||
| Useful | Gross | Accumulated | Gross | Accumulated | ||||||||||||
| Lives | Amount | Amortization | Amount | Amortization | ||||||||||||
| Intangibles-subject to amortization: | ||||||||||||||||
| Trademarks | 10 yrs. | $ | 4,175 | $ | 2,760 | $ | 4,175 | $ | 2,695 | |||||||
| Customer lists | 5-10 yrs. | 43,301 | 15,028 | 43,367 | 14,065 | |||||||||||
| Patents | 3-20 yrs. | 2,273 | 1,496 | 2,273 | 1,360 | |||||||||||
| Noncompete agreement | 6 yrs. | 1,911 | 637 | 1,913 | 558 | |||||||||||
| Other | 7-20 yrs. | 283 | 210 | 263 | 207 | |||||||||||
| Total intangibles-subject to amortization | 51,943 | 20,131 | 51,991 | 18,885 | ||||||||||||
| Intangibles-not subject to amortization: | ||||||||||||||||
| Trade names | 83,658 | 83,659 | ||||||||||||||
| Other assets: | ||||||||||||||||
| Key money deposits | 35,979 | 17,871 | 35,535 | 17,038 | ||||||||||||
| Other deposits | 23,563 | 22,574 | ||||||||||||||
| Deferred compensation plan assets | 2,424 | 2,360 | ||||||||||||||
| Deferred tax asset-net | 10,104 | 10,044 | ||||||||||||||
| Restricted cash | 753 | 752 | ||||||||||||||
| Shop-in-shop | 16,641 | 8,500 | 16,334 | 7,767 | ||||||||||||
| Interest rate swap | 3,658 | 4,307 | ||||||||||||||
| Other | 2,290 | 4,466 | ||||||||||||||
| Total other assets | 95,412 | 26,371 | 96,372 | 24,805 | ||||||||||||
| Total intangible and other assets | $ | 231,013 | $ | 46,502 | $ | 232,022 | $ | 43,690 | ||||||||
| Total intangible and other assets-net | $ | 184,511 | $ | 188,332 | ||||||||||||
| Schedule of estimated aggregate future amortization expense by fiscal year for intangible assets | ' | |||||||||||||||
| Estimated aggregate future amortization expense by fiscal year for intangible assets is as follows (in thousands): | ||||||||||||||||
| Fiscal Year | Amortization | |||||||||||||||
| Expense | ||||||||||||||||
| 2014 (remaining) | $ | 3,887 | ||||||||||||||
| 2015 | 4,793 | |||||||||||||||
| 2016 | 4,654 | |||||||||||||||
| 2017 | 4,396 | |||||||||||||||
| 2018 | 4,030 | |||||||||||||||
| 2019 | 3,932 | |||||||||||||||
FINANCIAL_STATEMENT_POLICIES_D
| FINANCIAL STATEMENT POLICIES (Details) (USD $) | 3 Months Ended | |
| Apr. 05, 2014 | Mar. 30, 2013 | |
| Hedging Instruments | ' | ' |
| Unrealized net loss on foreign currency forward contracts, if settled | $2,300,000 | ' |
| Numerator: | ' | ' |
| Net income attributable to Fossil Group, Inc. | $66,343,000 | $72,186,000 |
| Denominator: | ' | ' |
| Basic weighted average common shares outstanding | 54,125,000 | 59,393,000 |
| Basic EPS (in dollars per share) | $1.23 | $1.22 |
| Diluted EPS computation: | ' | ' |
| Basic weighted average common shares outstanding | 54,125,000 | 59,393,000 |
| Stock options, stock appreciation rights and restricted stock units (in shares) | 226,000 | 390,000 |
| Diluted weighted average common shares outstanding | 54,351,000 | 59,783,000 |
| Diluted EPS (in dollars per share) | $1.22 | $1.21 |
| Other EPS Disclosures | ' | ' |
| Shares issuable under stock-based awards not included in the diluted EPS calculation | 217,700 | 201,000 |
ACQUISITIONS_DIVESTITURE_AND_G2
| ACQUISITIONS, DIVESTITURE AND GOODWILL (Details) | 3 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | |||||||||||||
| Apr. 05, 2014 | Mar. 30, 2013 | Dec. 28, 2013 | Dec. 31, 2012 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Apr. 05, 2014 | Apr. 05, 2014 | Dec. 19, 2013 | Dec. 19, 2013 | Aug. 10, 2012 | Dec. 29, 2012 | Dec. 29, 2012 | Apr. 05, 2014 | Apr. 05, 2014 | Apr. 05, 2014 | Apr. 05, 2014 | |
| USD ($) | USD ($) | USD ($) | Bentrani | Fossil Spain | Fossil Spain | Fossil Spain | Fossil Spain | Fossil Spain | Fossil Spain | Fossil Spain | Fossil Spain | Fossil Spain | Fossil Spain | Fossil Spain | Fossil Spain | Fossil Spain | Fossil Spain | |
| USD ($) | USD ($) | Accrued expenses - other | Accrued expenses - other | Other long-term liabilities | Other long-term liabilities | General De Relojeria | General De Relojeria | General De Relojeria | General De Relojeria | General De Relojeria | General De Relojeria | General De Relojeria | General De Relojeria | General De Relojeria | ||||
| item | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | Minimum | Minimum | Maximum | Maximum | ||||||
| USD ($) | EUR (€) | USD ($) | EUR (€) | |||||||||||||||
| Business Acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Voting interest that may be acquired upon expiration of joint venture agreement (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' |
| Remeasurement of investment in Fossil Spain to fair value | $0 | $6,410,000 | ' | ' | $6,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Goodwill | 206,665,000 | ' | 206,954,000 | 8,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Percentage of net book value used in the calculation of the fixed purchase price component | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | 50.00% | ' | ' | ' | ' |
| Fixed portion of purchase price for the shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,800,000 | 5,200,000 | ' | ' | ' | ' |
| Variable price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,800,000 | 5,900,000 | 2,600,000 | 2,000,000 | 4,600,000 | 3,500,000 |
| Dividends, Common Stock, Cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | 1,800,000 | ' | ' | ' | ' | ' | ' | ' |
| Contingent Consideration | ' | ' | ' | ' | ' | 3,000,000 | 2,200,000 | 9,700,000 | 7,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Number of Latin American countries in which Bentrani is a distributor | ' | ' | ' | 16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Period of partnership with Company | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Acquisition amount | ' | ' | ' | 26,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Purchase price paid in cash | ' | ' | ' | 19,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Payable forgiven | ' | ' | ' | $7,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
ACQUISITIONS_DIVESTITURE_AND_G3
| ACQUISITIONS, DIVESTITURE AND GOODWILL (Details 2) (USD $) | 3 Months Ended |
| In Thousands, unless otherwise specified | Apr. 05, 2014 |
| Changes in carrying amount of goodwill | ' |
| Beginning Balance | $206,954 |
| Foreign currency changes | -289 |
| Ending Balance | 206,665 |
| North America Wholesale | ' |
| Changes in carrying amount of goodwill | ' |
| Beginning Balance | 118,147 |
| Foreign currency changes | -2 |
| Ending Balance | 118,145 |
| Europe Wholesale | ' |
| Changes in carrying amount of goodwill | ' |
| Beginning Balance | 77,217 |
| Foreign currency changes | -274 |
| Ending Balance | 76,943 |
| Asia Pacific Wholesale | ' |
| Changes in carrying amount of goodwill | ' |
| Beginning Balance | 11,590 |
| Foreign currency changes | -13 |
| Ending Balance | $11,577 |
INVENTORIES_Details
| INVENTORIES (Details) (USD $) | Apr. 05, 2014 | Dec. 28, 2013 |
| In Thousands, unless otherwise specified | ||
| INVENTORIES | ' | ' |
| Components and parts | $53,805 | $56,275 |
| Work-in-process | 7,704 | 14,017 |
| Finished goods | 540,353 | 500,427 |
| Inventories | $601,862 | $570,719 |
WARRANTY_RESERVE_Details
| WARRANTY RESERVE (Details) (USD $) | 3 Months Ended | |
| In Thousands, unless otherwise specified | Apr. 05, 2014 | Mar. 30, 2013 |
| Warranty liability activity | ' | ' |
| Beginning balance | $15,658 | $13,383 |
| Settlements in cash or kind | -3,163 | -2,461 |
| Warranties issued and adjustments to preexisting warranties | 3,364 | 2,396 |
| Liabilities assumed in acquisition | 0 | 340 |
| Ending balance | $15,859 | $13,658 |
| FOSSIL watch products | ' | ' |
| Warranty reserve | ' | ' |
| Warranty period | '11 years | ' |
| RELIC watch products | ' | ' |
| Warranty reserve | ' | ' |
| Warranty period | '12 years | ' |
| Other watch products | ' | ' |
| Warranty reserve | ' | ' |
| Warranty period | '2 years | ' |
INCOME_TAXES_Details
| INCOME TAXES (Details) (USD $) | 3 Months Ended | |
| Apr. 05, 2014 | Mar. 30, 2013 | |
| INCOME TAXES | ' | ' |
| Income tax expense | $31,480,000 | $28,894,000 |
| Income tax rate (as a percent) | 31.30% | 28.10% |
| Unrecognized tax benefits | 15,200,000 | ' |
| Unrecognized tax benefits that would impact effective tax rate | 10,000,000 | ' |
| Unrecognized tax benefits excluding interest and penalties | 400,000 | ' |
| Total amount of accrued income tax-related interest | 1,400,000 | ' |
| Penalties accrued | 400,000 | ' |
| Accrued income tax-related interest expense | $200,000 | ' |
STOCKHOLDERS_EQUITY_Details
| STOCKHOLDERS' EQUITY (Details) (USD $) | 3 Months Ended | |
| Share data in Millions, unless otherwise specified | Apr. 05, 2014 | Mar. 30, 2013 |
| Common and Preferred Stock | ' | ' |
| Authorizations remaining | $376,400,000 | ' |
| Stock repurchase plans | Common stock | ' | ' |
| Common Stock Repurchase Programs | ' | ' |
| Treasury stock effectively retired (in shares) | 1 | ' |
| Treasury stock effectively retired | 10,000 | ' |
| Stock repurchase plans | Additional paid-in capital | ' | ' |
| Common Stock Repurchase Programs | ' | ' |
| Treasury stock effectively retired | 800,000 | ' |
| Stock repurchase plans | Retained earnings | ' | ' |
| Common Stock Repurchase Programs | ' | ' |
| Treasury stock effectively retired | 116,500,000 | ' |
| Stock repurchase plans | Treasury stock | ' | ' |
| Common Stock Repurchase Programs | ' | ' |
| Treasury stock effectively retired | 117,300,000 | ' |
| Repurchase program with termination date of December 2016 | ' | ' |
| Common Stock Repurchase Programs | ' | ' |
| Common stock authorized amount, value | 1,000,000,000 | ' |
| Number of shares repurchased | 1 | 0.2 |
| Common stock repurchased, value | 117,300,000 | 18,000,000 |
| Share repurchase plan with no termination date | ' | ' |
| Common Stock Repurchase Programs | ' | ' |
| Common stock authorized amount, value | 30,000,000 | ' |
| Number of shares repurchased | 0 | 0 |
| Common stock repurchased, value | 0 | 0 |
| Share repurchase plan with December 2013 termination date | ' | ' |
| Common Stock Repurchase Programs | ' | ' |
| Common stock authorized amount, value | 750,000,000 | ' |
| Number of shares repurchased | 0 | 0.4 |
| Common stock repurchased, value | $0 | $38,600,000 |
STOCKHOLDERS_EQUITY_Details_2
| STOCKHOLDERS' EQUITY (Details 2) (USD $) | 3 Months Ended | |
| In Thousands, unless otherwise specified | Apr. 05, 2014 | Mar. 30, 2013 |
| Summary of changes in equity attributable to controlling and noncontrolling interest | ' | ' |
| Balance | $1,075,367 | $1,240,464 |
| Net income | 69,161 | 73,980 |
| Currency translation adjustment | -1,125 | -19,837 |
| Unrealized loss on securities available for sale | 0 | -71 |
| Derivative instruments - change in fair values | 239 | 3,391 |
| Common stock issued upon exercise of stock options and stock appreciation rights | 759 | 1,991 |
| Tax benefit derived from stock-based compensation | 938 | 4,082 |
| Distribution of noncontrolling interest earnings | -5,391 | -4 |
| Acquisition of common stock | -119,715 | -61,188 |
| Stock-based compensation expense | 4,978 | 2,546 |
| Balance | 1,025,211 | 1,245,354 |
| Forward contracts hedging intercompany foreign currency payments | ' | ' |
| Summary of changes in equity attributable to controlling and noncontrolling interest | ' | ' |
| Derivative instruments - change in fair values | ' | 3,391 |
| Fossil Group, Inc. Stockholders' Equity | ' | ' |
| Summary of changes in equity attributable to controlling and noncontrolling interest | ' | ' |
| Balance | 1,068,677 | 1,233,535 |
| Net income | 66,343 | 72,186 |
| Currency translation adjustment | -1,125 | -19,837 |
| Unrealized loss on securities available for sale | ' | -71 |
| Derivative instruments - change in fair values | 239 | ' |
| Common stock issued upon exercise of stock options and stock appreciation rights | 759 | 1,991 |
| Tax benefit derived from stock-based compensation | 938 | 4,082 |
| Distribution of noncontrolling interest earnings | 0 | 0 |
| Acquisition of common stock | -119,715 | -61,188 |
| Stock-based compensation expense | 4,978 | 2,546 |
| Balance | 1,021,094 | 1,236,635 |
| Fossil Group, Inc. Stockholders' Equity | Forward contracts hedging intercompany foreign currency payments | ' | ' |
| Summary of changes in equity attributable to controlling and noncontrolling interest | ' | ' |
| Derivative instruments - change in fair values | ' | 3,391 |
| Noncontrolling Interest | ' | ' |
| Summary of changes in equity attributable to controlling and noncontrolling interest | ' | ' |
| Balance | 6,690 | 6,929 |
| Net income | 2,818 | 1,794 |
| Currency translation adjustment | 0 | 0 |
| Unrealized loss on securities available for sale | ' | 0 |
| Derivative instruments - change in fair values | 0 | ' |
| Common stock issued upon exercise of stock options and stock appreciation rights | 0 | 0 |
| Tax benefit derived from stock-based compensation | 0 | 0 |
| Distribution of noncontrolling interest earnings | -5,391 | -4 |
| Acquisition of common stock | 0 | 0 |
| Stock-based compensation expense | 0 | 0 |
| Balance | 4,117 | 8,719 |
| Noncontrolling Interest | Forward contracts hedging intercompany foreign currency payments | ' | ' |
| Summary of changes in equity attributable to controlling and noncontrolling interest | ' | ' |
| Derivative instruments - change in fair values | ' | $0 |
EMPLOYEE_BENEFIT_PLANS_Details
| EMPLOYEE BENEFIT PLANS (Details) (USD $) | 3 Months Ended | 12 Months Ended |
| In Thousands, except Per Share data, unless otherwise specified | Apr. 05, 2014 | Dec. 28, 2013 |
| Shares | ' | ' |
| Beginning Balance, Shares | 678 | ' |
| Granted (in shares) | 84 | ' |
| Exercised (in shares) | -21 | ' |
| Forfeited or expired (in shares) | -3 | ' |
| Ending Balance, Shares | 738 | 678 |
| Exercisable at end of period (in shares) | 538 | ' |
| Weighted-Average Exercise Price Per Share | ' | ' |
| Beginning Balance, Weighted-average Exercise Price (in dollars per share) | $76.15 | ' |
| Granted (in dollars per share) | $113.04 | ' |
| Exercised (in dollars per share) | $36.01 | ' |
| Forfeited or expired (in dollars per share) | $117.39 | ' |
| Ending Balance, Weighted-average Exercise Price (in dollars per share) | $81.38 | $76.15 |
| Stock Options and Stock Appreciation Rights Exercisable, Weighted- Average Exercise Price (in dollars per share) | $68.86 | ' |
| Weighted-Average Remaining Contractual Term | ' | ' |
| Beginning of period | '6 years 2 months 12 days | '6 years 2 months 12 days |
| End of period | '6 years 2 months 12 days | '6 years 2 months 12 days |
| Exercisable at end of period | '5 years 8 months 12 days | ' |
| Aggregate Intrinsic Value | ' | ' |
| Beginning of period | $31,794 | ' |
| Exercised | 1,758 | ' |
| End of period | 28,427 | 31,794 |
| Exercisable at end of period | $27,277 | ' |
EMPLOYEE_BENEFIT_PLANS_Details1
| EMPLOYEE BENEFIT PLANS (Details 2) (USD $) | 3 Months Ended |
| In Thousands, except Per Share data, unless otherwise specified | Apr. 05, 2014 |
| Stock options | ' |
| Stock-based compensation plans disclosures | ' |
| Stock Options Outstanding, Number Of Shares | 500 |
| Stock Options Outstanding, Weighted- Average Exercise Price (in dollars per share) | $75.04 |
| Stock Options Outstanding, Weighted- Average Remaining Contractual Term | '6 years 1 month 6 days |
| Stock Options Exercisable, Number Of Shares | 435 |
| Stock Options Exercisable, Weighted- Average Exercise Price (in dollars per share) | $67.50 |
| Stock appreciation rights | ' |
| Stock-based compensation plans disclosures | ' |
| Stock Appreciation Rights Outstanding, Number Of Shares | 238 |
| Stock Appreciation Rights Outstanding, Weighted- Average Exercise Price (in dollars per share) | $94.71 |
| Stock Appreciation Rights Outstanding, Weighted- Average Remaining Contractual Term | '6 years 3 months 18 days |
| Stock Appreciation Rights Exercisable, Number Of Shares | 103 |
| Stock Appreciation Rights Exercisable, Weighted- Average Exercise Price (in dollars per share) | $74.60 |
| Range Of Exercise Prices $13.65 - $21.51 | Stock options | ' |
| Stock-based compensation plans disclosures | ' |
| Stock Options Outstanding, lower range (in dollars per share) | $13.65 |
| Stock Options Outstanding, upper range (in dollars per share) | $21.51 |
| Stock Options Outstanding, Number Of Shares | 77 |
| Stock Options Outstanding, Weighted- Average Exercise Price (in dollars per share) | $15.34 |
| Stock Options Outstanding, Weighted- Average Remaining Contractual Term | '4 years 2 months 12 days |
| Stock Options Exercisable, Number Of Shares | 77 |
| Stock Options Exercisable, Weighted- Average Exercise Price (in dollars per share) | $15.34 |
| Range Of Exercise Prices $13.65 - $21.51 | Stock appreciation rights | ' |
| Stock-based compensation plans disclosures | ' |
| Stock Appreciation Rights Outstanding, lower range (in dollars per share) | $13.65 |
| Stock Appreciation Rights Outstanding, upper range (in dollars per share) | $21.51 |
| Stock Appreciation Rights Outstanding, Number Of Shares | 20 |
| Stock Appreciation Rights Outstanding, Weighted- Average Exercise Price (in dollars per share) | $13.65 |
| Stock Appreciation Rights Outstanding, Weighted- Average Remaining Contractual Term | '3 years |
| Stock Appreciation Rights Exercisable, Number Of Shares | 20 |
| Stock Appreciation Rights Exercisable, Weighted- Average Exercise Price (in dollars per share) | $13.65 |
| Range Of Exercise Prices $21.51 - $34.59 | Stock options | ' |
| Stock-based compensation plans disclosures | ' |
| Stock Options Outstanding, lower range (in dollars per share) | $21.51 |
| Stock Options Outstanding, upper range (in dollars per share) | $34.59 |
| Stock Options Outstanding, Number Of Shares | 60 |
| Stock Options Outstanding, Weighted- Average Exercise Price (in dollars per share) | $29.39 |
| Stock Options Outstanding, Weighted- Average Remaining Contractual Term | '2 years 9 months 18 days |
| Stock Options Exercisable, Number Of Shares | 60 |
| Stock Options Exercisable, Weighted- Average Exercise Price (in dollars per share) | $29.39 |
| Range Of Exercise Prices $21.51 - $34.59 | Stock appreciation rights | ' |
| Stock-based compensation plans disclosures | ' |
| Stock Appreciation Rights Outstanding, lower range (in dollars per share) | $21.51 |
| Stock Appreciation Rights Outstanding, upper range (in dollars per share) | $34.59 |
| Stock Appreciation Rights Outstanding, Number Of Shares | 6 |
| Stock Appreciation Rights Outstanding, Weighted- Average Exercise Price (in dollars per share) | $30.71 |
| Stock Appreciation Rights Outstanding, Weighted- Average Remaining Contractual Term | '2 years |
| Stock Appreciation Rights Exercisable, Number Of Shares | 6 |
| Stock Appreciation Rights Exercisable, Weighted- Average Exercise Price (in dollars per share) | $30.71 |
| Range Of Exercise Prices $34.59 - $67.10 | Stock options | ' |
| Stock-based compensation plans disclosures | ' |
| Stock Options Outstanding, lower range (in dollars per share) | $34.59 |
| Stock Options Outstanding, upper range (in dollars per share) | $67.10 |
| Stock Options Outstanding, Number Of Shares | 76 |
| Stock Options Outstanding, Weighted- Average Exercise Price (in dollars per share) | $39.80 |
| Stock Options Outstanding, Weighted- Average Remaining Contractual Term | '5 years 3 months 18 days |
| Stock Options Exercisable, Number Of Shares | 76 |
| Stock Options Exercisable, Weighted- Average Exercise Price (in dollars per share) | $39.80 |
| Range Of Exercise Prices $34.59 - $67.10 | Stock appreciation rights | ' |
| Stock-based compensation plans disclosures | ' |
| Stock Appreciation Rights Outstanding, lower range (in dollars per share) | $34.59 |
| Stock Appreciation Rights Outstanding, upper range (in dollars per share) | $67.10 |
| Stock Appreciation Rights Outstanding, Number Of Shares | 16 |
| Stock Appreciation Rights Outstanding, Weighted- Average Exercise Price (in dollars per share) | $42.68 |
| Stock Appreciation Rights Outstanding, Weighted- Average Remaining Contractual Term | '4 years 3 months 18 days |
| Stock Appreciation Rights Exercisable, Number Of Shares | 14 |
| Stock Appreciation Rights Exercisable, Weighted- Average Exercise Price (in dollars per share) | $39.87 |
| Range Of Exercise Prices $67.10 - $116.88 | Stock options | ' |
| Stock-based compensation plans disclosures | ' |
| Stock Options Outstanding, lower range (in dollars per share) | $67.10 |
| Stock Options Outstanding, upper range (in dollars per share) | $116.88 |
| Stock Options Outstanding, Number Of Shares | 111 |
| Stock Options Outstanding, Weighted- Average Exercise Price (in dollars per share) | $80.91 |
| Stock Options Outstanding, Weighted- Average Remaining Contractual Term | '7 years |
| Stock Options Exercisable, Number Of Shares | 107 |
| Stock Options Exercisable, Weighted- Average Exercise Price (in dollars per share) | $80.76 |
| Range Of Exercise Prices $67.10 - $116.88 | Stock appreciation rights | ' |
| Stock-based compensation plans disclosures | ' |
| Stock Appreciation Rights Outstanding, lower range (in dollars per share) | $67.10 |
| Stock Appreciation Rights Outstanding, upper range (in dollars per share) | $116.88 |
| Stock Appreciation Rights Outstanding, Number Of Shares | 155 |
| Stock Appreciation Rights Outstanding, Weighted- Average Exercise Price (in dollars per share) | $104.10 |
| Stock Appreciation Rights Outstanding, Weighted- Average Remaining Contractual Term | '7 years 2 months 12 days |
| Stock Appreciation Rights Exercisable, Number Of Shares | 36 |
| Stock Appreciation Rights Exercisable, Weighted- Average Exercise Price (in dollars per share) | $87.68 |
| Range Of Exercise Prices $116.88 - $131.46 | Stock options | ' |
| Stock-based compensation plans disclosures | ' |
| Stock Options Outstanding, lower range (in dollars per share) | $116.88 |
| Stock Options Outstanding, upper range (in dollars per share) | $131.46 |
| Stock Options Outstanding, Number Of Shares | 176 |
| Stock Options Outstanding, Weighted- Average Exercise Price (in dollars per share) | $128.09 |
| Stock Options Outstanding, Weighted- Average Remaining Contractual Term | '7 years 10 months 24 days |
| Stock Options Exercisable, Number Of Shares | 115 |
| Stock Options Exercisable, Weighted- Average Exercise Price (in dollars per share) | $128.02 |
| Range Of Exercise Prices $116.88 - $131.46 | Stock appreciation rights | ' |
| Stock-based compensation plans disclosures | ' |
| Stock Appreciation Rights Outstanding, lower range (in dollars per share) | $116.88 |
| Stock Appreciation Rights Outstanding, upper range (in dollars per share) | $131.46 |
| Stock Appreciation Rights Outstanding, Number Of Shares | 41 |
| Stock Appreciation Rights Outstanding, Weighted- Average Exercise Price (in dollars per share) | $127.91 |
| Stock Appreciation Rights Outstanding, Weighted- Average Remaining Contractual Term | '5 years 9 months 18 days |
| Stock Appreciation Rights Exercisable, Number Of Shares | 27 |
| Stock Appreciation Rights Exercisable, Weighted- Average Exercise Price (in dollars per share) | $127.91 |
EMPLOYEE_BENEFIT_PLANS_Details2
| EMPLOYEE BENEFIT PLANS (Details 3) (Restricted Stock and Restricted Stock Units, USD $) | 3 Months Ended |
| In Millions, except Share data in Thousands, unless otherwise specified | Apr. 05, 2014 |
| Restricted Stock and Restricted Stock Units | ' |
| Nonvested, Number of Shares | ' |
| Nonvested, beginning balance (in shares) | 219 |
| Granted (in shares) | 133 |
| Vested (in shares) | -87 |
| Forfeited (in shares) | -2 |
| Nonvested, ending balance (in shares) | 263 |
| Nonvested, Weighted-Average Grant Date Fair Value | ' |
| Nonvested, beginning balance (in dollars per share) | $99.27 |
| Granted (in dollars per share) | $113.10 |
| Vested (in dollars per share) | $86.20 |
| Forfeited (in dollars per share) | $103.26 |
| Nonvested, ending balance (in dollars per share) | $110.60 |
| Fair value of restricted stock and restricted stock units, vested | $9.90 |
ACCUMULATED_OTHER_COMPREHENSIV2
| ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) (USD $) | 3 Months Ended | |
| In Thousands, unless otherwise specified | Apr. 05, 2014 | Mar. 30, 2013 |
| Changes in the balances of each component of accumulated other comprehensive income, net of taxes | ' | ' |
| Beginning balance | $36,691 | $28,760 |
| Other comprehensive (loss) income before reclassifications, net of tax benefit of $288 and $3,474 for the 14 weeks ended April 5, 2014 and 13 weeks ended March 30, 2013, respectively | -1,849 | -16,563 |
| Other comprehensive (loss) income before reclassifications, tax benefit | 288 | 3,474 |
| Amounts reclassed from accumulated other comprehensive (loss) income, net of tax (benefit)/expense of $597 and $87 for the 14 weeks ended April 5, 2014 and 13 weeks ended March 30, 2013, respectively | -963 | -46 |
| Amounts reclassified from accumulated other comprehensive (loss) income, tax (benefit) expense | -597 | 87 |
| Total other comprehensive loss | -886 | -16,517 |
| Ending balance | 35,805 | 12,243 |
| Currency Translation Adjustments | ' | ' |
| Changes in the balances of each component of accumulated other comprehensive income, net of taxes | ' | ' |
| Beginning balance | 38,152 | 30,181 |
| Other comprehensive (loss) income before reclassifications, net of tax benefit of $288 and $3,474 for the 14 weeks ended April 5, 2014 and 13 weeks ended March 30, 2013, respectively | -1,125 | -19,837 |
| Amounts reclassed from accumulated other comprehensive (loss) income, net of tax (benefit)/expense of $597 and $87 for the 14 weeks ended April 5, 2014 and 13 weeks ended March 30, 2013, respectively | 0 | 0 |
| Total other comprehensive loss | -1,125 | -19,837 |
| Ending balance | 37,027 | 10,344 |
| Securities Available for Sale | ' | ' |
| Changes in the balances of each component of accumulated other comprehensive income, net of taxes | ' | ' |
| Beginning balance | ' | -475 |
| Other comprehensive (loss) income before reclassifications, net of tax benefit of $288 and $3,474 for the 14 weeks ended April 5, 2014 and 13 weeks ended March 30, 2013, respectively | ' | -71 |
| Amounts reclassed from accumulated other comprehensive (loss) income, net of tax (benefit)/expense of $597 and $87 for the 14 weeks ended April 5, 2014 and 13 weeks ended March 30, 2013, respectively | ' | 0 |
| Total other comprehensive loss | ' | -71 |
| Ending balance | ' | -546 |
| Derivatives Designated as Cash Flow Hedges | Forward Contracts | ' | ' |
| Changes in the balances of each component of accumulated other comprehensive income, net of taxes | ' | ' |
| Beginning balance | -2,091 | -946 |
| Other comprehensive (loss) income before reclassifications, net of tax benefit of $288 and $3,474 for the 14 weeks ended April 5, 2014 and 13 weeks ended March 30, 2013, respectively | -348 | 3,345 |
| Amounts reclassed from accumulated other comprehensive (loss) income, net of tax (benefit)/expense of $597 and $87 for the 14 weeks ended April 5, 2014 and 13 weeks ended March 30, 2013, respectively | -498 | -46 |
| Total other comprehensive loss | 150 | 3,391 |
| Ending balance | -1,941 | 2,445 |
| Derivatives Designated as Cash Flow Hedges | Interest Rate Swap | ' | ' |
| Changes in the balances of each component of accumulated other comprehensive income, net of taxes | ' | ' |
| Beginning balance | -106 | ' |
| Other comprehensive (loss) income before reclassifications, net of tax benefit of $288 and $3,474 for the 14 weeks ended April 5, 2014 and 13 weeks ended March 30, 2013, respectively | -538 | ' |
| Amounts reclassed from accumulated other comprehensive (loss) income, net of tax (benefit)/expense of $597 and $87 for the 14 weeks ended April 5, 2014 and 13 weeks ended March 30, 2013, respectively | -465 | ' |
| Total other comprehensive loss | -73 | ' |
| Ending balance | -179 | ' |
| Net Investment Hedges | ' | ' |
| Changes in the balances of each component of accumulated other comprehensive income, net of taxes | ' | ' |
| Beginning balance | 0 | ' |
| Other comprehensive (loss) income before reclassifications, net of tax benefit of $288 and $3,474 for the 14 weeks ended April 5, 2014 and 13 weeks ended March 30, 2013, respectively | 162 | ' |
| Amounts reclassed from accumulated other comprehensive (loss) income, net of tax (benefit)/expense of $597 and $87 for the 14 weeks ended April 5, 2014 and 13 weeks ended March 30, 2013, respectively | 0 | ' |
| Total other comprehensive loss | 162 | ' |
| Ending balance | 162 | ' |
| Pension Plan | ' | ' |
| Changes in the balances of each component of accumulated other comprehensive income, net of taxes | ' | ' |
| Beginning balance | 736 | ' |
| Other comprehensive (loss) income before reclassifications, net of tax benefit of $288 and $3,474 for the 14 weeks ended April 5, 2014 and 13 weeks ended March 30, 2013, respectively | 0 | ' |
| Amounts reclassed from accumulated other comprehensive (loss) income, net of tax (benefit)/expense of $597 and $87 for the 14 weeks ended April 5, 2014 and 13 weeks ended March 30, 2013, respectively | 0 | ' |
| Total other comprehensive loss | 0 | ' |
| Ending balance | $736 | ' |
SEGMENT_INFORMATION_Details
| SEGMENT INFORMATION (Details) (USD $) | 3 Months Ended | |
| In Thousands, unless otherwise specified | Apr. 05, 2014 | Mar. 30, 2013 |
| Summary information by operating segment | ' | ' |
| Net Sales | $776,544 | $680,899 |
| Operating Income | 104,698 | 94,321 |
| Intersegment | ' | ' |
| Summary information by operating segment | ' | ' |
| Net Sales | -320,265 | -288,830 |
| Corporate | ' | ' |
| Summary information by operating segment | ' | ' |
| Operating Income | -47,547 | -39,296 |
| North America wholesale | ' | ' |
| Summary information by operating segment | ' | ' |
| Net Sales | 272,796 | 255,165 |
| North America wholesale | Operating Segment | ' | ' |
| Summary information by operating segment | ' | ' |
| Operating Income | 52,879 | 60,408 |
| North America wholesale | Intersegment | ' | ' |
| Summary information by operating segment | ' | ' |
| Net Sales | 47,174 | 45,946 |
| Europe wholesale | ' | ' |
| Summary information by operating segment | ' | ' |
| Net Sales | 205,663 | 173,906 |
| Europe wholesale | Operating Segment | ' | ' |
| Summary information by operating segment | ' | ' |
| Operating Income | 51,960 | 38,547 |
| Europe wholesale | Intersegment | ' | ' |
| Summary information by operating segment | ' | ' |
| Net Sales | 33,489 | 40,688 |
| Asia Pacific wholesale | ' | ' |
| Summary information by operating segment | ' | ' |
| Net Sales | 103,560 | 86,776 |
| Asia Pacific wholesale | Operating Segment | ' | ' |
| Summary information by operating segment | ' | ' |
| Operating Income | 31,120 | 27,550 |
| Asia Pacific wholesale | Intersegment | ' | ' |
| Summary information by operating segment | ' | ' |
| Net Sales | 239,602 | 202,196 |
| Direct to consumer | ' | ' |
| Summary information by operating segment | ' | ' |
| Net Sales | 194,525 | 165,052 |
| Direct to consumer | Operating Segment | ' | ' |
| Summary information by operating segment | ' | ' |
| Operating Income | $16,286 | $7,112 |
SEGMENT_INFORMATION_Details_2
| SEGMENT INFORMATION (Details 2) (USD $) | 3 Months Ended | |
| In Thousands, unless otherwise specified | Apr. 05, 2014 | Mar. 30, 2013 |
| Net sales for each class of similar products | ' | ' |
| Net sales | $776,544 | $680,899 |
| Percentage of Total | 100.00% | 100.00% |
| Watches | ' | ' |
| Net sales for each class of similar products | ' | ' |
| Net sales | 601,388 | 513,017 |
| Percentage of Total | 77.50% | 75.30% |
| Leathers | ' | ' |
| Net sales for each class of similar products | ' | ' |
| Net sales | 99,722 | 102,788 |
| Percentage of Total | 12.80% | 15.10% |
| Jewelry | ' | ' |
| Net sales for each class of similar products | ' | ' |
| Net sales | 56,518 | 42,314 |
| Percentage of Total | 7.30% | 6.20% |
| Other | ' | ' |
| Net sales for each class of similar products | ' | ' |
| Net sales | $18,916 | $22,780 |
| Percentage of Total | 2.40% | 3.40% |
DERIVATIVES_AND_RISK_MANAGEMEN2
| DERIVATIVES AND RISK MANAGEMENT (Details) | 3 Months Ended | 3 Months Ended | |||||||||||||||||
| Apr. 05, 2014 | Mar. 30, 2013 | Apr. 05, 2014 | Mar. 30, 2013 | Apr. 05, 2014 | Apr. 05, 2014 | Apr. 05, 2014 | Apr. 05, 2014 | Apr. 05, 2014 | Apr. 05, 2014 | Apr. 05, 2014 | Apr. 05, 2014 | Apr. 05, 2014 | Apr. 05, 2014 | Apr. 05, 2014 | Apr. 05, 2014 | Apr. 05, 2014 | Apr. 05, 2014 | Apr. 05, 2014 | |
| USD ($) | USD ($) | Forward Contracts | Forward Contracts | Foreign exchange forward contracts | Foreign exchange forward contracts | Foreign exchange forward contracts | Foreign exchange forward contracts | Foreign exchange forward contracts | Foreign exchange forward contracts | Foreign exchange forward contracts | Foreign exchange forward contracts | Foreign exchange forward contracts | Foreign exchange forward contracts | Foreign exchange forward contracts | Foreign exchange forward contracts | Foreign exchange forward contracts | Interest rate swap | Interest rate swap | |
| Amount Reclassified from AOCI | Amount Reclassified from AOCI | Net Investment Hedges | Designated | Designated | Designated | Designated | Designated | Designated | Designated | Designated | Designated | Designated | Designated | Designated | Designated | Term loan | |||
| USD ($) | USD ($) | EUR (€) | Euro | Euro | British Pound | British Pound | Canadian Dollar | Canadian Dollar | Japanese Yen | Japanese Yen | Australian Dollar | Australian Dollar | Mexican Peso | Mexican Peso | Designated | ||||
| USD ($) | EUR (€) | USD ($) | GBP (£) | USD ($) | CAD | USD ($) | JPY (¥) | USD ($) | AUD | USD ($) | MXN | USD ($) | |||||||
| DERIVATIVES AND RISK MANAGEMENT | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Maximum period of future intercompany purchases | '18 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Forecasted purchases to manage fluctuations (as a percent) | 65.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Hedges resulted ineffectiveness | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Derivatives | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Gains or losses reclassified into earnings | 66,343,000 | 72,186,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Notional amount | ' | ' | ' | ' | ' | 238,300,000 | 176,500,000 | 33,400,000 | 21,000,000 | 28,500,000 | 30,500,000 | 23,400,000 | 2,312,000,000 | 11,800,000 | 13,200,000 | 11,000,000 | 145,700,000 | ' | ' |
| Term of interest rate swap agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' |
| Fixed interest rate swap (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.29% | ' |
| Description of base rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1-month LIBOR- |
| Hedged amount | ' | ' | ' | ' | € 25,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $250,000,000 |
DERIVATIVES_AND_RISK_MANAGEMEN3
| DERIVATIVES AND RISK MANAGEMENT (Details 2) (USD $) | 3 Months Ended | |
| In Thousands, unless otherwise specified | Apr. 05, 2014 | Mar. 30, 2013 |
| Derivatives | ' | ' |
| Total (loss) gain recognized in other comprehensive loss, net of taxes | ($724) | $3,345 |
| Cash flow hedges | Foreign exchange forward contracts | ' | ' |
| Derivatives | ' | ' |
| Total (loss) gain recognized in other comprehensive loss, net of taxes | -348 | 3,345 |
| Cash flow hedges | Interest rate swap | ' | ' |
| Derivatives | ' | ' |
| Total (loss) gain recognized in other comprehensive loss, net of taxes | -538 | 0 |
| Net Investment Hedges | ' | ' |
| Derivatives | ' | ' |
| Total (loss) gain recognized in other comprehensive loss, net of taxes | $162 | $0 |
DERIVATIVES_AND_RISK_MANAGEMEN4
| DERIVATIVES AND RISK MANAGEMENT (Details 3) (USD $) | 3 Months Ended | |
| In Thousands, unless otherwise specified | Apr. 05, 2014 | Mar. 30, 2013 |
| Foreign exchange contracts | Designated | Cash flow hedges | ' | ' |
| Effective portion of gains and losses on derivative instruments | ' | ' |
| Total loss reclassified from other comprehensive loss | ($498) | ($46) |
| Foreign exchange contracts | Not designated as hedging instruments | ' | ' |
| Effective portion of gains and losses on derivative instruments | ' | ' |
| Total loss recognized in income | -148 | 0 |
| Interest rate swap | Designated | Cash flow hedges | ' | ' |
| Effective portion of gains and losses on derivative instruments | ' | ' |
| Total loss reclassified from other comprehensive loss | ($465) | $0 |
DERIVATIVES_AND_RISK_MANAGEMEN5
| DERIVATIVES AND RISK MANAGEMENT (Details 4) (USD $) | Apr. 05, 2014 | Dec. 28, 2013 |
| Fair value of derivative instruments | ' | ' |
| Asset Derivatives, Fair Value | $6,410,000 | $7,815,000 |
| Liability Derivatives, Fair Value | 9,983,000 | 12,690,000 |
| Existing losses expected to be reclassified into earnings within the next twelve months | 2,300,000 | ' |
| Foreign exchange forward contracts | Designated | Cash flow hedges | Prepaid expenses and other current assets | ' | ' |
| Fair value of derivative instruments | ' | ' |
| Asset Derivatives, Fair Value | 2,279,000 | 3,289,000 |
| Foreign exchange forward contracts | Designated | Cash flow hedges | Intangible and other assets-net | ' | ' |
| Fair value of derivative instruments | ' | ' |
| Asset Derivatives, Fair Value | 218,000 | 219,000 |
| Foreign exchange forward contracts | Designated | Cash flow hedges | Accrued expenses - other | ' | ' |
| Fair value of derivative instruments | ' | ' |
| Liability Derivatives, Fair Value | 5,859,000 | 7,651,000 |
| Foreign exchange forward contracts | Designated | Cash flow hedges | Other long-term liabilities | ' | ' |
| Fair value of derivative instruments | ' | ' |
| Liability Derivatives, Fair Value | 185,000 | 563,000 |
| Foreign exchange forward contracts | Designated | Net Investment Hedges | Prepaid expenses and other current assets | ' | ' |
| Fair value of derivative instruments | ' | ' |
| Asset Derivatives, Fair Value | 255,000 | 0 |
| Liability Derivatives, Fair Value | 0 | 0 |
| Interest rate contracts | Designated | Cash flow hedges | Prepaid expenses and other current assets | ' | ' |
| Fair value of derivative instruments | ' | ' |
| Asset Derivatives, Fair Value | 0 | 0 |
| Interest rate contracts | Designated | Cash flow hedges | Intangible and other assets-net | ' | ' |
| Fair value of derivative instruments | ' | ' |
| Asset Derivatives, Fair Value | 3,658,000 | 4,307,000 |
| Interest rate contracts | Designated | Cash flow hedges | Accrued expenses - other | ' | ' |
| Fair value of derivative instruments | ' | ' |
| Liability Derivatives, Fair Value | 2,617,000 | 2,783,000 |
| Interest rate contracts | Designated | Cash flow hedges | Other long-term liabilities | ' | ' |
| Fair value of derivative instruments | ' | ' |
| Liability Derivatives, Fair Value | $1,322,000 | $1,693,000 |
FAIR_VALUE_MEASUREMENTS_Detail
| FAIR VALUE MEASUREMENTS (Details) (USD $) | 3 Months Ended | ||||||||||
| In Thousands, unless otherwise specified | Apr. 05, 2014 | Apr. 05, 2014 | Apr. 05, 2014 | Apr. 05, 2014 | Dec. 28, 2013 | Apr. 05, 2014 | Dec. 28, 2013 | Apr. 05, 2014 | Dec. 28, 2013 | Apr. 05, 2014 | Dec. 28, 2013 |
| Level 3 | Level 3 | Level 3 | Fair Value Measurement, Recurring Basis | Fair Value Measurement, Recurring Basis | Fair Value Measurement, Recurring Basis | Fair Value Measurement, Recurring Basis | Fair Value Measurement, Recurring Basis | Fair Value Measurement, Recurring Basis | Fair Value Measurement, Recurring Basis | Fair Value Measurement, Recurring Basis | |
| Contingent consideration, Fossil Spain | Minimum | Maximum | Level 1 | Level 1 | Level 2 | Level 2 | Level 3 | Level 3 | Total | Total | |
| Contingent consideration, Fossil Spain | Contingent consideration, Fossil Spain | ||||||||||
| Assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Forward contracts | ' | ' | ' | $0 | $0 | $2,752 | $3,508 | $0 | $0 | $2,752 | $3,508 |
| Investment in publicly traded mutual funds | ' | ' | ' | 2,424 | 2,360 | 0 | 0 | 0 | 0 | 2,424 | 2,360 |
| Interest rate swap | ' | ' | ' | 0 | 0 | 3,658 | 4,307 | 0 | 0 | 3,658 | 4,307 |
| Total | ' | ' | ' | 2,424 | 2,360 | 6,410 | 7,815 | 0 | 0 | 8,834 | 10,175 |
| Liabilities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Contingent Consideration | ' | ' | ' | 0 | 0 | 0 | 0 | 8,053 | 8,084 | 8,053 | 8,084 |
| Forward contracts | ' | ' | ' | 0 | 0 | 6,044 | 8,214 | 0 | 0 | 6,044 | 8,214 |
| Interest rate swap | ' | ' | ' | 0 | 0 | 3,939 | 4,476 | 0 | 0 | 3,939 | 4,476 |
| Total | ' | ' | ' | $0 | $0 | $9,983 | $12,690 | $8,053 | $8,084 | $18,036 | $20,774 |
| Future revenue growth for 2014 and 2015 (as a percent) | ' | 3.00% | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' |
| Projected operating expenses as a percentage of revenues | 28.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Discount rate (as a percent) | 19.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
FAIR_VALUE_MEASUREMENTS_Detail1
| FAIR VALUE MEASUREMENTS (Details 2) (USD $) | 3 Months Ended | ||
| In Thousands, unless otherwise specified | Apr. 05, 2014 | Mar. 30, 2013 | Dec. 28, 2013 |
| Fair value hierarchy for assets and liabilities measured at fair value on a nonrecurring basis | ' | ' | ' |
| Impairment charges | ($282) | $0 | ' |
| Property, plant and equipment-net | 356,755 | ' | 355,666 |
| Specific Company-owned stores | ' | ' | ' |
| Fair value hierarchy for assets and liabilities measured at fair value on a nonrecurring basis | ' | ' | ' |
| Impairment charges | -300 | ' | ' |
| Property, plant and equipment-net | 300 | ' | ' |
| Fair Value Measurement, Nonrecurring Basis | Level 1 | Specific Company-owned stores | ' | ' | ' |
| Fair value hierarchy for assets and liabilities measured at fair value on a nonrecurring basis | ' | ' | ' |
| Specific Company-owned stores | 0 | ' | ' |
| Fair Value Measurement, Nonrecurring Basis | Level 2 | Specific Company-owned stores | ' | ' | ' |
| Fair value hierarchy for assets and liabilities measured at fair value on a nonrecurring basis | ' | ' | ' |
| Specific Company-owned stores | 0 | ' | ' |
| Fair Value Measurement, Nonrecurring Basis | Level 3 | Specific Company-owned stores | ' | ' | ' |
| Fair value hierarchy for assets and liabilities measured at fair value on a nonrecurring basis | ' | ' | ' |
| Specific Company-owned stores | 0 | ' | ' |
| Fair Value Measurement, Nonrecurring Basis | Total | Specific Company-owned stores | ' | ' | ' |
| Fair value hierarchy for assets and liabilities measured at fair value on a nonrecurring basis | ' | ' | ' |
| Specific Company-owned stores | $0 | ' | ' |
INTANGIBLE_AND_OTHER_ASSETS_De
| INTANGIBLE AND OTHER ASSETS (Details) (USD $) | 3 Months Ended | |
| In Thousands, unless otherwise specified | Apr. 05, 2014 | Dec. 28, 2013 |
| Intangible and other assets | ' | ' |
| Total intangibles - subject to amortization | $51,943 | $51,991 |
| Total intangibles-not subject to amortization, Carrying Amount | 83,658 | 83,659 |
| Total other assets, Gross Amount | 95,412 | 96,372 |
| Total intangible and other assets, Carrying Amount | 231,013 | 232,022 |
| Total intangibles-subject to amortization, Accumulated Amortization | 20,131 | 18,885 |
| Total other assets, Accumulated Amortization | 26,371 | 24,805 |
| Total intangible and other assets, Accumulated Amortization | 46,502 | 43,690 |
| Total intangible and other assets-net | 184,511 | 188,332 |
| Key money deposits | ' | ' |
| Intangible and other assets | ' | ' |
| Total other assets, Gross Amount | 35,979 | 35,535 |
| Total other assets, Accumulated Amortization | 17,871 | 17,038 |
| Key money deposits | Minimum | ' | ' |
| Intangible and other assets | ' | ' |
| Amortization period based on initial lease term | '4 years | ' |
| Key money deposits | Maximum | ' | ' |
| Intangible and other assets | ' | ' |
| Amortization period based on initial lease term | '18 years | ' |
| Other deposits | ' | ' |
| Intangible and other assets | ' | ' |
| Total other assets, Gross Amount | 23,563 | 22,574 |
| Deferred compensation plan assets | ' | ' |
| Intangible and other assets | ' | ' |
| Total other assets, Gross Amount | 2,424 | 2,360 |
| Deferred tax asset-net | ' | ' |
| Intangible and other assets | ' | ' |
| Total other assets, Gross Amount | 10,104 | 10,044 |
| Restricted cash | ' | ' |
| Intangible and other assets | ' | ' |
| Total other assets, Gross Amount | 753 | 752 |
| Shop-in-shop | ' | ' |
| Intangible and other assets | ' | ' |
| Total other assets, Gross Amount | 16,641 | 16,334 |
| Total other assets, Accumulated Amortization | 8,500 | 7,767 |
| Interest rate swap | ' | ' |
| Intangible and other assets | ' | ' |
| Total other assets, Gross Amount | 3,658 | 4,307 |
| Other assets | ' | ' |
| Intangible and other assets | ' | ' |
| Total other assets, Gross Amount | 2,290 | 4,466 |
| Trademarks | ' | ' |
| Intangible and other assets | ' | ' |
| Total intangibles - subject to amortization | 4,175 | 4,175 |
| Total intangibles-subject to amortization, Accumulated Amortization | 2,760 | 2,695 |
| Useful Lives | '10 years | ' |
| Customer lists | ' | ' |
| Intangible and other assets | ' | ' |
| Total intangibles - subject to amortization | 43,301 | 43,367 |
| Total intangibles-subject to amortization, Accumulated Amortization | 15,028 | 14,065 |
| Customer lists | Minimum | ' | ' |
| Intangible and other assets | ' | ' |
| Useful Lives | '5 years | ' |
| Customer lists | Maximum | ' | ' |
| Intangible and other assets | ' | ' |
| Useful Lives | '10 years | ' |
| Patents | ' | ' |
| Intangible and other assets | ' | ' |
| Total intangibles - subject to amortization | 2,273 | 2,273 |
| Total intangibles-subject to amortization, Accumulated Amortization | 1,496 | 1,360 |
| Patents | Minimum | ' | ' |
| Intangible and other assets | ' | ' |
| Useful Lives | '3 years | ' |
| Patents | Maximum | ' | ' |
| Intangible and other assets | ' | ' |
| Useful Lives | '20 years | ' |
| Noncompete agreement | ' | ' |
| Intangible and other assets | ' | ' |
| Total intangibles - subject to amortization | 1,911 | 1,913 |
| Total intangibles-subject to amortization, Accumulated Amortization | 637 | 558 |
| Useful Lives | '6 years | ' |
| Other | ' | ' |
| Intangible and other assets | ' | ' |
| Total intangibles - subject to amortization | 283 | 263 |
| Total intangibles-subject to amortization, Accumulated Amortization | $210 | $207 |
| Other | Minimum | ' | ' |
| Intangible and other assets | ' | ' |
| Useful Lives | '7 years | ' |
| Other | Maximum | ' | ' |
| Intangible and other assets | ' | ' |
| Useful Lives | '20 years | ' |
INTANGIBLE_AND_OTHER_ASSETS_De1
| INTANGIBLE AND OTHER ASSETS (Details 2) (USD $) | 3 Months Ended | |
| Apr. 05, 2014 | Mar. 30, 2013 | |
| INTANGIBLE AND OTHER ASSETS | ' | ' |
| Amortization expense for intangible assets | $1,300,000 | $1,300,000 |
| Estimated aggregate future amortization expense by fiscal year | ' | ' |
| 2014 (remaining) | 3,887,000 | ' |
| 2015 | 4,793,000 | ' |
| 2016 | 4,654,000 | ' |
| 2017 | 4,396,000 | ' |
| 2018 | 4,030,000 | ' |
| 2019 | $3,932,000 | ' |
DEBT_ACTIVITY_Details
| DEBT ACTIVITY (Details) (USD $) | 3 Months Ended |
| In Millions, unless otherwise specified | Apr. 05, 2014 |
| Revolver | ' |
| Debt Instrument | ' |
| Net borrowings | $40 |
| Remaining borrowing capacity | 458.9 |
| Amount of international cash balance which favorably impact amount available under facility | 182 |
| Interest expense incurred | 1.3 |
| Term loan | ' |
| Debt Instrument | ' |
| Repayment of borrowings | 6.3 |
| Interest expense incurred | $0.90 |