falsedesktopMOV2020-10-31000156459020054938{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "New York\t13-2595932\n(State or Other Jurisdiction of Incorporation or Organization)\t(IRS Employer Identification No.)\n650 From Road Ste. 375 Paramus New Jersey\t07652-3556\n(Address of Principal Executive Offices)\t(Zip Code)\n", "q10k_tbl_1": "Large accelerated filer\t☐\tAccelerated filer\t☒\tNon-accelerated filer ☐\nSmaller reporting company\t☐\tEmerging growth company\t☐\t\n", "q10k_tbl_2": "\t\t\tPage\nPart I\tFinancial Information (Unaudited)\t\t\n\tItem 1.\tConsolidated Balance Sheets at October 31 2020 January 31 2020 and October 31 2019\t3\n\t\tConsolidated Statements of Operations for the three and nine months ended October 31 2020 and October 31 2019\t4\n\t\tConsolidated Statements of Comprehensive Income (Loss) for the three and nine months ended October 31 2020 and October 31 2019\t5\n\t\tConsolidated Statements of Cash Flows for the nine months ended October 31 2020 and October 31 2019\t6\n\t\tNotes to Consolidated Financial Statements\t7\n\tItem 2.\tManagement's Discussion and Analysis of Financial Condition and Results of Operations\t26\n\tItem 3.\tQuantitative and Qualitative Disclosures About Market Risk\t39\n\tItem 4.\tControls and Procedures\t40\nPart II\tOther Information\t\t\n\tItem 1.\tLegal Proceedings\t41\n\tItem 1A.\tRisk Factors\t41\n\tItem 2.\tUnregistered Sales of Equity Securities and Use of Proceeds\t42\n\tItem 6.\tExhibits\t43\nSignature\t\t\t44\n", "q10k_tbl_3": "\tOctober 31\tJanuary 31\tOctober 31\n\t2020\t2020\t2019\nASSETS\t\t\t\nCurrent assets:\t\t\t\nCash and cash equivalents\t163218\t185872\t116025\nTrade receivables net\t103506\t78388\t136272\nInventories\t176841\t171406\t201164\nOther current assets\t28028\t28888\t30737\nTotal current assets\t471593\t464554\t484198\nProperty plant and equipment net\t24002\t29238\t29275\nOperating lease right-of-use assets\t77932\t89523\t88126\nDeferred and non-current income taxes\t54748\t25403\t28191\nGoodwill\t0\t136366\t135280\nOther intangibles net\t17123\t42359\t43532\nOther non-current assets\t56380\t59865\t58453\nTotal assets\t701778\t847308\t867055\nLIABILITIES AND EQUITY\t\t\t\nCurrent liabilities:\t\t\t\nAccounts payable\t35562\t35488\t33757\nAccrued liabilities\t59612\t44210\t62499\nAccrued payroll and benefits\t12693\t6302\t9353\nCurrent operating lease liabilities\t14210\t15083\t14579\nIncome taxes payable\t11275\t8217\t17243\nTotal current liabilities\t133352\t109300\t137431\nLoans payable to bank\t37266\t51910\t50685\nDeferred and non-current income taxes payable\t20893\t25419\t26370\nNon-current operating lease liabilities\t71658\t81877\t80682\nOther non-current liabilities\t45179\t48393\t47943\nTotal liabilities\t308348\t316899\t343111\nCommitments and contingencies (Note 12)\t\t\t\nRedeemable noncontrolling interest\t2772\t3165\t3263\nEquity:\t\t\t\nPreferred Stock $0.01 par value 5000000 shares authorized; no shares issued\t0\t0\t0\nCommon Stock $0.01 par value 100000000 shares authorized; 28077806 27859328 and 27856954 shares issued and outstanding respectively\t281\t279\t279\nClass A Common Stock $0.01 par value 30000000 shares authorized; 6608548 6603645 and 6603645 shares issued and outstanding respectively\t65\t65\t65\nCapital in excess of par value\t212730\t208473\t206725\nRetained earnings\t313696\t455479\t456579\nAccumulated other comprehensive income\t85879\t85050\t79825\nTreasury Stock 11492591 11443308 and 11442625 shares respectively at cost\t(223306)\t(222809)\t(222792)\nTotal Movado Group Inc. shareholders' equity\t389345\t526537\t520681\nNoncontrolling interest\t1313\t707\t0\nTotal equity\t390658\t527244\t520681\nTotal liabilities redeemable noncontrolling interest and equity\t701778\t847308\t867055\n", "q10k_tbl_4": "\tThree Months Ended October 31\t\tNine Months Ended October 31\t\n\t2020\t2019\t2020\t2019\nNet sales\t169863\t205618\t328067\t509983\nCost of sales\t77410\t95549\t158365\t235702\nGross profit\t92453\t110069\t169702\t274281\nSelling general and administrative\t69386\t87431\t181795\t237893\nImpairment of goodwill and intangible assets (Note 7)\t0\t0\t155919\t0\nTotal operating expenses\t69386\t87431\t337714\t237893\nOperating income/(loss)\t23067\t22638\t(168012)\t36388\nNon-operating income/(expense):\t\t\t\t\nGain on sale of a non-operating asset\t0\t0\t1317\t0\nChange in contingent consideration (Note 11)\t0\t0\t0\t13627\nInterest expense\t(608)\t(240)\t(1469)\t(689)\nInterest income\t8\t18\t31\t63\nIncome/(loss) before income taxes\t22467\t22416\t(168133)\t49389\nProvision/(benefit) for income taxes (Note 13)\t7524\t4955\t(26365)\t10543\nNet income/(loss)\t14943\t17461\t(141768)\t38846\nLess: Net income/(loss) attributable to noncontrolling interests\t118\t(304)\t15\t(349)\nNet income/(loss) attributable to Movado Group Inc.\t14825\t17765\t(141783)\t39195\nBasic income/(loss) per share:\t\t\t\t\nWeighted basic average shares outstanding\t23285\t23117\t23223\t23124\nNet income/(loss) per share attributable to Movado Group Inc.\t0.64\t0.77\t(6.11)\t1.69\nDiluted income/(loss) per share:\t\t\t\t\nWeighted diluted average shares outstanding\t23375\t23250\t23223\t23322\nNet income/(loss) per share attributable to Movado Group Inc.\t0.63\t0.76\t(6.11)\t1.68\n", "q10k_tbl_5": "\tThree Months Ended October 31\t\tNine Months Ended October 31\t\n\t2020\t2019\t2020\t2019\nNet income/(loss)\t14943\t17461\t(141768)\t38846\nOther comprehensive income/(loss):\t\t\t\t\nNet unrealized gain/(loss) on investments net of tax provision/(benefit) of $1 $(3) $(10) and $0 respectively\t1\t(8)\t(31)\t0\nAmortization of prior service cost net of tax provision of $4 $4 $12 and $11 respectively\t14\t13\t42\t39\nForeign currency translation adjustments\t(245)\t5614\t818\t(721)\nTotal other comprehensive (loss)/income net of taxes\t(230)\t5619\t829\t(682)\nLess:\t\t\t\t\nComprehensive income/(loss) attributable to noncontrolling interests:\t\t\t\t\nNet income/(loss)\t118\t(304)\t15\t(349)\nForeign currency translation adjustments\t(58)\t27\t198\t(109)\nTotal comprehensive income/(loss) attributable to noncontrolling interests\t60\t(277)\t213\t(458)\nTotal comprehensive income/(loss) attributable to Movado Group Inc.\t14653\t23357\t(141152)\t38622\n", "q10k_tbl_6": "\tNine Months Ended October 31\t\n\t2020\t2019\nCash flows from operating activities:\t\t\nNet (loss)/income attributable to Movado Group Inc.\t(141783)\t39195\nAdjustments to reconcile net (loss)/income to net cash used in operating activities:\t\t\nImpairment of goodwill and intangible assets\t155919\t0\nNon-cash corporate initiatives\t6685\t0\nChange in contingent consideration\t0\t(13627)\nGain on sale of a non-operating asset\t(1317)\t0\nDepreciation and amortization\t10546\t11888\nTransactional losses/(gains)\t231\t309\nProvision for inventories and accounts receivable\t2066\t2626\nDeferred income taxes\t(31536)\t(6462)\nStock-based compensation\t3848\t4658\nOther\t306\t(435)\nChanges in assets and liabilities:\t\t\nTrade receivables\t(26835)\t(52659)\nInventories\t(7073)\t(38064)\nOther current assets\t(821)\t(2407)\nAccounts payable\t40\t(4184)\nAccrued liabilities\t15929\t19271\nAccrued payroll and benefits\t6124\t(9379)\nIncome taxes payable\t516\t6407\nOther non-current assets\t(347)\t640\nOther non-current liabilities\t796\t(2347)\nNet cash used in operating activities\t(6706)\t(44570)\nCash flows from investing activities:\t\t\nCapital expenditures\t(2428)\t(10023)\nProceeds from sale of a non-operating asset\t1317\t0\nProceeds from sale of an asset held for sale\t0\t242\nTrademarks and other intangibles\t(118)\t(194)\nNet cash used in investing activities\t(1229)\t(9975)\nCash flows from financing activities:\t\t\nRepayment of bank borrowings\t(47699)\t0\nProceeds from bank borrowings\t30879\t0\nStock awards and options exercised and other changes\t(497)\t(1249)\nStock repurchase\t0\t(4199)\nDividends paid\t0\t(13796)\nDebt issuance cost\t(300)\t0\nNet cash used in financing activities\t(17617)\t(19244)\nEffect of exchange rate changes on cash cash equivalents and restricted cash\t2926\t(93)\nNet decrease in cash cash equivalents and restricted cash\t(22626)\t(73882)\nCash cash equivalents and restricted cash at beginning of year\t186438\t190459\nCash cash equivalents and restricted cash at end of period\t163812\t116577\nReconciliation of cash cash equivalents and restricted cash:\t\t\nCash and cash equivalents\t163218\t116025\nRestricted cash included in other non-current assets\t594\t552\nCash cash equivalents and restricted cash\t163812\t116577\n", "q10k_tbl_7": "Three Months Ended October 31\t\t\tNine Months Ended October 31\t\n2020\t\t2019\t2020\t2019\nWeighted average common shares outstanding:\t\t\t\t\nBasic\t23285\t23117\t23223\t23124\nEffect of dilutive securities:\t\t\t\t\nStock awards and options to purchase shares of common stock\t90\t133\t0\t198\nDiluted\t23375\t23250\t23223\t23322\n", "q10k_tbl_8": "\tBalance July 31 2020\tProvision\tNon-Cash Use\tCash Payments\tBalance October 31 2020\nRestructuring Plan:\t\t\t\t\t\nSeverance and Employee Related\t5806\t144\t0\t(2784)\t3166\nOther\t89\t631\t(117)\t(536)\t67\nCorporate Initiative:\t\t\t\t\t\nSeverance and Employee Related\t541\t0\t0\t(541)\t0\nInventory\t3460\t0\t(203)\t0\t3257\nAccounts receivable\t1075\t0\t0\t0\t1075\nOther\t37\t6\t0\t(15)\t28\nTotal\t11008\t781\t(320)\t(3876)\t7593\n", "q10k_tbl_9": "\tBalance January 31 2020\tProvision\tNon-Cash Use\tCash Payments\tBalance October 31 2020\nRestructuring Plan:\t\t\t\t\t\nSeverance and Employee Related (1)\t0\t7110\t0\t(3944)\t3166\nOther (2)\t0\t1033\t(315)\t(651)\t67\nCorporate Initiative:\t\t\t\t\t\nSeverance and Employee Related\t0\t936\t0\t(936)\t0\nInventory (3)\t0\t3507\t(250)\t0\t3257\nAccounts receivable (4)\t0\t1075\t0\t0\t1075\nOther (2)\t0\t1728\t(1518)\t(182)\t28\nTotal\t0\t15389\t(2083)\t(5713)\t7593\n", "q10k_tbl_10": "\tFor the Three Months Ended October 31 2020 Provision\tFor the Nine Months Ended October 31 2020 Total\nWatch and Accessory Brands:\t\t\nUnited States\t594\t11929\nInternational\t187\t3460\nTotal Watch and Accessory Brands\t781\t15389\nTotal Company Stores\t0\t0\nTotal Consolidated\t781\t15389\nCost of sales\t43\t3551\nSelling general and administrative\t738\t11838\nTotal\t781\t15389\n", "q10k_tbl_11": "\tTrade names\tCustomer relationships\tOther (1)\tTotal\nWeighted Average Amortization Period (in years)\t10\t7\t9\t\nBalance at January 31 2020\t31075\t10154\t1130\t42359\nImpairment\t(18595)\t(3570)\t0\t(22165)\nAdditions\t0\t0\t118\t118\nAmortization\t(1487)\t(1242)\t(232)\t(2961)\nForeign exchange impact\t(224)\t(32)\t28\t(228)\nBalance at October 31 2020\t10769\t5310\t1044\t17123\n", "q10k_tbl_12": "\tOctober 31 2020\tJanuary 31 2020\tOctober 31 2019\nFinished goods\t130515\t125603\t154758\nComponent parts\t42438\t41708\t42976\nWork-in-process\t3888\t4095\t3430\n\t176841\t171406\t201164\n", "q10k_tbl_13": "\t\tFair Value at October 31 2020\t\t\t\n\tBalance Sheet Location\tLevel 1\tLevel 2\tLevel 3\tTotal\nAssets:\t\t\t\t\t\nAvailable-for-sale securities\tOther current assets\t143\t0\t0\t143\nShort-term investment\tOther current assets\t156\t0\t0\t156\nSERP assets - employer\tOther non-current assets\t1020\t0\t0\t1020\nSERP assets - employee\tOther non-current assets\t42040\t0\t0\t42040\nDefined benefit plan assets\tOther non-current liabilities\t0\t0\t25206\t25206\nTotal\t\t43359\t0\t25206\t68565\nLiabilities:\t\t\t\t\t\nSERP liabilities - employee\tOther non-current liabilities\t42040\t0\t0\t42040\nHedge derivatives\tAccrued liabilities\t0\t12\t0\t12\nTotal\t\t42040\t12\t0\t42052\n", "q10k_tbl_14": "\t\tFair Value at January 31 2020\t\t\t\n\tBalance Sheet Location\tLevel 1\tLevel 2\tLevel 3\tTotal\nAssets:\t\t\t\t\t\nAvailable-for-sale securities\tOther current assets\t184\t0\t0\t184\nShort-term investment\tOther current assets\t156\t0\t0\t156\nSERP assets - employer\tOther non-current assets\t988\t0\t0\t988\nSERP assets - employee\tOther non-current assets\t45256\t0\t0\t45256\nDefined benefit plan assets\tOther non-current liabilities\t0\t0\t24227\t24227\nHedge derivatives\tOther current assets\t0\t347\t0\t347\nTotal\t\t46584\t347\t24227\t71158\nLiabilities:\t\t\t\t\t\nSERP liabilities - employee\tOther non-current liabilities\t45264\t0\t0\t45264\nTotal\t\t45264\t0\t0\t45264\n", "q10k_tbl_15": "\t\tFair Value at October 31 2019\t\t\t\n\tBalance Sheet Location\tLevel 1\tLevel 2\tLevel 3\tTotal\nAssets:\t\t\t\t\t\nAvailable-for-sale securities\tOther current assets\t177\t0\t0\t177\nShort-term investment\tOther current assets\t156\t0\t0\t156\nSERP assets - employer\tOther non-current assets\t1280\t0\t0\t1280\nSERP assets - employee\tOther non-current assets\t43049\t0\t0\t43049\nDefined benefit plan assets\tOther non-current liabilities\t0\t0\t33312\t33312\nHedge derivatives\tOther current assets\t0\t79\t0\t79\nTotal\t\t44662\t79\t33312\t78053\nLiabilities:\t\t\t\t\t\nSERP liabilities - employee\tOther non-current liabilities\t43049\t0\t0\t43049\nHedge derivatives\tAccrued liabilities\t0\t83\t0\t83\nContingent consideration\tOther non-current liabilities\t0\t0\t1918\t1918\nTotal\t\t43049\t83\t1918\t45050\n", "q10k_tbl_16": "\tThree Months Ended October 31\n(In thousands)\t2019\nBalance at July 31 2019\t1900\nPayments\t0\nAdjustments included in income before income taxes\t18\nAdjustments to deferred compensation\t0\nEnding Balance\t1918\n", "q10k_tbl_17": "\tNine Months Ended October 31\n(In thousands)\t2019\nBalance at January 31 2019\t16718\nPayments\t0\nAdjustments included in income before income taxes\t(13443)\nAdjustments to deferred compensation\t(1357)\nEnding Balance\t1918\n", "q10k_tbl_18": "\t\tMovado Group Inc. Shareholders' Equity\t\t\t\t\t\t\t\t\n\tPreferred Stock\tCommon Stock (1)\tClass A Common Stock (2)\tCapital in Excess of Par Value\tRetained Earnings\tAccumulated Other Comprehensive Income\tTreasury Stock\tNoncontrolling Interest\tTotal Movado Group Inc. Shareholders' Equity\tRedeemable Noncontrolling Interest\nBalance January 31 2020\t0\t279\t65\t208473\t455479\t85050\t(222809)\t707\t527244\t3165\nNet income/(loss) attributable to Movado Group Inc.\t\t\t\t\t(141783)\t\t\t571\t(141212)\t(556)\nStock options exercised\t\t2\t\t(2)\t\t\t(497)\t\t(497)\t\nSupplemental executive retirement plan\t\t\t\t69\t\t\t\t\t69\t\nStock-based compensation expense (4)\t\t\t\t4190\t\t\t\t\t4190\t\nNet unrealized loss on investments net of tax benefit of $10\t\t\t\t\t\t(31)\t\t\t(31)\t\nAmortization of prior service cost net of tax provision of $12\t\t\t\t\t\t42\t\t\t42\t\nForeign currency translation adjustment (3)\t\t\t\t\t\t818\t\t35\t853\t163\nBalance October 31 2020\t0\t281\t65\t212730\t313696\t85879\t(223306)\t1313\t390658\t2772\n\tPreferred Stock\tCommon Stock (1)\tClass A Common Stock (2)\tCapital in Excess of Par Value\tRetained Earnings\tAccumulated Other Comprehensive Income\tTreasury Stock\tNoncontrolling Interest\tTotal Movado Group Inc. Shareholders' Equity\tRedeemable Noncontrolling Interest\nBalance January 31 2019\t0\t277\t65\t201814\t431180\t80507\t(217188)\t0\t496655\t3721\nNet income/(loss) attributable to Movado Group Inc.\t\t\t\t\t39195\t\t\t\t39195\t(349)\nDividends ($0.60 per share)\t\t\t\t\t(13796)\t\t\t\t(13796)\t\nStock repurchase\t\t\t\t\t\t\t(4199)\t\t(4199)\t\nStock options exercised\t\t2\t\t154\t\t\t(1405)\t\t(1249)\t\nSupplemental executive retirement plan\t\t\t\t99\t\t\t\t\t99\t\nStock-based compensation expense\t\t\t\t4658\t\t\t\t\t4658\t\nAmortization of prior service cost net of tax provision of $11\t\t\t\t\t\t39\t\t\t39\t\nForeign currency translation adjustment (3)\t\t\t\t\t\t(721)\t\t\t(721)\t(109)\nBalance October 31 2019\t0\t279\t65\t206725\t456579\t79825\t(222792)\t0\t520681\t3263\n", "q10k_tbl_19": "\tOctober 31 2020\tJanuary 31 2020\tOctober 31 2019\nForeign currency translation adjustments\t86163\t85345\t80087\nAvailable-for-sale securities\t93\t124\t119\nUnrecognized prior service cost related to defined benefit pension plan\t(325)\t(367)\t(381)\nNet actuarial loss related to defined benefit pension plan\t(52)\t(52)\t0\nTotal accumulated other comprehensive income\t85879\t85050\t79825\n", "q10k_tbl_20": "\tFor the Three Months Ended October 31\t\tFor the Nine Months Ended October 31\t\nCustomer Type\t2020\t2019\t2020\t2019\nWholesale\t135605\t168558\t248977\t402855\nDirect to consumer\t33508\t36059\t77500\t104149\nAfter-sales service\t750\t1001\t1590\t2979\nNet Sales\t169863\t205618\t328067\t509983\n", "q10k_tbl_21": "\tNine Months Ended October 31 2020\nExpected volatility\t50.79%\nExpected life in years\t6.0\nRisk-free interest rates\t0.34%\nDividend rate\t4.29%\nWeighted average fair value per option at date of grant\t3.87\n", "q10k_tbl_22": "\tOutstanding Options\tWeighted Average Exercise Price per Option\tOption Price Per Share\tWeighted Average Remaining Contractual Term (years)\tAggregate Intrinsic Value $(000)\nOptions outstanding at January 31 2020 (399905 options exercisable)\t561110\t28.41\t23.35-$42.12\t5.2\t0\nGranted\t200000\t12.42\t12.42\t\t\nExercised\t0\t\t\t\t\nCancelled\t0\t\t\t\t\nOptions outstanding at October 31 2020\t761110\t24.21\t12.42-$42.12\t5.8\t0\nExercisable at October 31 2020\t561110\t28.41\t\t4.4\t0\nExpected to vest at October 31 2020\t172959\t12.42\t\t9.6\t0\n", "q10k_tbl_23": "\tNumber of Stock Award Units\tWeighted- Average Grant Date Fair Value\tWeighted- Average Remaining Contractual Term (years)\tAggregate Intrinsic Value $(000's)\nUnits outstanding at January 31 2020\t490239\t33.50\t1.4\t8442\nUnits granted\t89289\t10.02\t\t\nUnits vested\t(212070)\t26.05\t\t\nUnits forfeited\t(31084)\t31.11\t\t\nUnits outstanding at October 31 2020\t336374\t32.19\t0.9\t3670\n", "q10k_tbl_24": "\tNet Sales\t\n\t2020\t2019\nWatch and Accessory Brands:\t\t\nOwned brands category\t55774\t76120\nLicensed brands category\t95576\t108336\nAfter-sales service and all other\t758\t1149\nTotal Watch and Accessory Brands\t152108\t185605\nCompany Stores\t17755\t20013\nConsolidated total\t169863\t205618\n", "q10k_tbl_25": "\tOperating Income (3)\t\n\t2020\t2019\nWatch and Accessory Brands\t19810\t20206\nCompany Stores\t3257\t2432\nConsolidated total\t23067\t22638\n", "q10k_tbl_26": "\tNet Sales\t\n\t2020\t2019\nWatch and Accessory Brands:\t\t\nOwned brands category\t112757\t184729\nLicensed brands category\t177674\t258617\nAfter-sales service and all other\t3152\t10560\nTotal Watch and Accessory Brands\t293583\t453906\nCompany Stores\t34484\t56077\nConsolidated total\t328067\t509983\n", "q10k_tbl_27": "\tOperating (Loss)/Income (3)(4)(5)\t\n\t2020\t2019\nWatch and Accessory Brands\t(169756)\t28999\nCompany Stores\t1744\t7389\nConsolidated total\t(168012)\t36388\n", "q10k_tbl_28": "\tTotal Assets (A)\t\t\n\tOctober 31 2020\tJanuary 31 2020\tOctober 31 2019\nWatch and Accessory Brands\t640652\t782339\t799887\nCompany Stores\t61126\t64969\t67168\nConsolidated total\t701778\t847308\t867055\n", "q10k_tbl_29": "\tNet Sales\t\tOperating (Loss)/Income (3)(5)\t\n\t2020\t2019\t2020\t2019\nUnited States (1)\t65485\t85634\t(6684)\t(7077)\nInternational (2)\t104378\t119984\t29751\t29715\nConsolidated total\t169863\t205618\t23067\t22638\n", "q10k_tbl_30": "\tNet Sales\t\tOperating (Loss)/Income (3)(4)(5)\t\n\t2020\t2019\t2020\t2019\nUnited States (1)\t128785\t211657\t(140993)\t(19280)\nInternational (2)\t199282\t298326\t(27019)\t55668\nConsolidated total\t328067\t509983\t(168012)\t36388\n", "q10k_tbl_31": "\tTotal Assets (1)\t\t\n\tOctober 31 2020\tJanuary 31 2020\tOctober 31 2019\nUnited States\t300351\t425018\t465630\nInternational\t401427\t422290\t401425\nConsolidated total\t701778\t847308\t867055\n", "q10k_tbl_32": "\tProperty Plant and Equipment Net\t\t\n\tOctober 31 2020\tJanuary 31 2020\tOctober 31 2019\nUnited States\t15884\t18852\t19613\nInternational\t8118\t10386\t9662\nConsolidated total\t24002\t29238\t29275\n", "q10k_tbl_33": "\tThree Months Ended October 31\t\n\t2020\t2019\nWatch and Accessory Brands:\t\t\nUnited States\t48403\t66287\nInternational\t103705\t119318\nTotal Watch and Accessory Brands\t152108\t185605\nCompany Stores:\t\t\nUnited States\t17082\t19347\nInternational\t673\t666\nTotal Company Stores\t17755\t20013\nNet Sales\t169863\t205618\n", "q10k_tbl_34": "\tThree Months Ended October 31\t\n\t2020\t2019\nWatch and Accessory Brands:\t\t\nOwned brands category\t55774\t76120\nLicensed brands category\t95576\t108336\nAfter-sales service and all other\t758\t1149\nTotal Watch and Accessory Brands\t152108\t185605\nCompany Stores\t17755\t20013\nNet Sales\t169863\t205618\n", "q10k_tbl_35": "\tNine Months Ended October 31\t\n\t2020\t2019\nWatch and Accessory Brands:\t\t\nUnited States\t95605\t156856\nInternational\t197978\t297050\nTotal Watch and Accessory Brands\t293583\t453906\nCompany Stores:\t\t\nUnited States\t33180\t54801\nInternational\t1304\t1276\nTotal Company Stores\t34484\t56077\nNet Sales\t328067\t509983\n", "q10k_tbl_36": "\tNine Months Ended October 31\t\n\t2020\t2019\nWatch and Accessory Brands:\t\t\nOwned brands category\t112757\t184729\nLicensed brands category\t177674\t258617\nAfter-sales service and all other\t3152\t10560\nTotal Watch and Accessory Brands\t293583\t453906\nCompany Stores\t34484\t56077\nNet Sales\t328067\t509983\n", "q10k_tbl_37": "Period\tTotal Number of Shares Purchased\tAverage Price Paid Per Share\tTotal Number of Shares Purchased as Part of Publicly Announced Plans or Programs\tMaximum Amount that May Yet Be Purchased Under the Plans or Programs\nAugust 1 2020 - August 31 2020\t1753\t11.57\t0\t36405816\nSeptember 1 2020 - September 30 2020\t228\t11.57\t0\t36405816\nOctober 1 2020 - October 31 2020\t0\t0\t0\t36405816\nTotal\t1981\t11.57\t0\t36405816\n", "q10k_tbl_38": "10.1*\tLicense Agreement dated as of 19 August 2020 among Calvin Klein Inc. Movado Group Inc. and Swissam Products Limited.\n31.1\tCertification of the Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.\n31.2\tCertification of the Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.\n32.1\tCertification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.\n32.2\tCertification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.\n101\tThe following financial information from Movado Group Inc.'s Quarterly Report on Form 10-Q for the quarter ended October 31 2020 filed with the SEC formatted in Inline Extensible Business Reporting Language (iXBRL): (i) the Consolidated Balance Sheets; (ii) the Consolidated Statements of Operations; (iii) the Consolidated Statements of Comprehensive Income; (iv) the Consolidated Statements of Cash Flows; and (v) the Notes to the Consolidated Financial Statements. XBRL Instance Document - the XBRL Instance Document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL Document.\n104\tCover Page Interactive Data File formatted in Inline Extensible Business Reporting Language (iXBRL).\n"}{"bs": "q10k_tbl_3", "is": "q10k_tbl_4", "cf": "q10k_tbl_6"}None
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the Quarterly Period Ended October 31, 2020
☐
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
Commission File Number: 1-16497
MOVADO GROUP, INC.
(Exact Name of Registrant as Specified in its Charter)
New York
13-2595932
(State or Other Jurisdiction
of Incorporation or Organization)
(IRS Employer
Identification No.)
650 From Road, Ste. 375
Paramus, New Jersey
07652-3556
(Address of Principal Executive Offices)
(Zip Code)
(201) 267-8000
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading
Symbol(s)
Name of each exchange on which registered
Common Stock, par value $0.01 per share
MOV
New York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for that past 90 days. Yes☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,’’ “accelerated filer,’’ “smaller reporting company,’’ and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer
☐
Accelerated filer
☒
Non-accelerated filer
☐
Smaller reporting company
☐
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
The number of shares outstanding of the registrant’s Common Stock and Class A Common Stock as of November 19, 2020 were 16,585,236 and 6,608,548 respectively.