Good day, everyone, and welcome to the Movado Group, Inc. Fourth Quarter 2020 Earnings Conference Call. As a reminder, today’s call is being recorded and may not be reproduced in whole or in part without permission from the Company. At this time, I would like to turn the call over to Rachel Schacter of ICR. You may now begin.

Thank you. Good morning, everyone. With me on the call is Efraim Grinberg, Chairman and Chief Executive Officer; and Sallie DeMarsilis, Chief Financial Officer. Before we get started, I would like to remind you the Company’s safe harbor language, which I’m sure you’re all familiar with. The statements contained in this conference call, which are not historical facts, may be deemed to constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual future results may differ materially from those suggested in such statements due to a number of risks and uncertainties, all of which are described in the Company’s filings with the SEC, which includes today’s press release. If any non-GAAP financial measure is used on this call, a presentation of the most directly comparable GAAP financial measure to this non-GAAP financial measure will be provided as supplemental financial information in our press release. Now, I’d like to turn the call over to Efraim Grinberg, Chairman and Chief Executive Officer of Movado Group.

Good morning, and welcome to Movado Group’s year-end conference call. I will keep my remarks brief and then Sallie will review our fourth quarter and full year financial results in greater detail. Since we are operating remotely, we will not be taking any questions. We are today faced with an unprecedented global health crisis. And at this time, our principal concern is the wellbeing of our associates and partners around the world. We hope for a return to a more stable environment, as soon as possible where the massive threat to people’s health and wellbeing diminishes. This pandemic has created a severe decline in discretionary consumer spending. As I speak to you today, all of our offices around the world with the exception of China and Hong Kong are closed, and employees are working remotely. All of our retail stores in the U.S., Canada and the United Kingdom are closed. Our warehouse in New Jersey, which is operating on a skeleton crew in order to promote the safety of our people is delivering ecommerce orders for Movado and Olivia Burton. Our European, Hong Kong and Kentucky warehouses are still open with skeleton crews. Most of our customers have closed their stores, as have many malls around the world. We’re working on contingencies so that we can exit these unprecedented times successfully and for the long-term. Fortunately, we ended the year with a very-strong balance sheet and a strong cash position. We’re carefully managing our cash and minimizing our expenses in order to be in a strong position when we exit into a more normalized environment. While it seems like a long time ago, a number of our brands performed very well at retail over the holiday season in very-challenging environment for the category and retail in general, including Tommy Hilfiger in Europe, India and Mexico, as well as HUGO BOSS and Lacoste in Europe and Movado within the department store channel in United States. In our e-commerce business, Movado continued to show strong growth. MVMT faced some significant performance challenges with its current website over the holiday season. Although, we have now partially rectified these issues, we are focusing on upgrading to Salesforce’s Commerce Cloud platform this coming June. Olivia Burton and Coach, both performed well in e-commerce in China. We have a fabulous portfolio of brands, customers and partners and a dedicated team of employees. We’re reducing costs and inventory, and reallocating our resources to the areas of the business that we believe will drive our long-term success. We have been in this business for many years and endured many downturns, and believe our powerful brands, focus on innovation and operating discipline, position us well to successfully navigate through these unprecedented times. Before I turn the call over to Sallie to conclude the call with her remarks, I would like to thank all of you for listening and hope that all of you and your families remain safe. Sallie?

Thank you, Efraim, and good morning, everyone. For today’s call, I will review our financial results for fiscal 2020. Before I begin, I would like to point out the special items included in our fourth quarter and full year results for fiscal 2020 and fiscal 2019. Our press release also describes these items and includes the table of GAAP and non-GAAP measures. Movado Group acquired MVMT on October 1, 2018. Included in the annual consolidated results for fiscal 2020 was $4.6 million of pre-tax charges, primarily comprised of the amortization of intangible assets, purchase accounting adjustments and deferred compensation related to the MVMT acquisition. After-tax, the charge equates to $3.5 million, or $0.15 per diluted share. $1 million pre-tax dollars or $800,000 after-tax of this charge was in the fourth quarter of fiscal 2020. Our consolidated GAAP results for fiscal 2019 included $14.4 million of pre-tax charges, primarily related to the integration and acquisition of MVMT. After-tax, this charge equates to $11.4 million or $0.48 per diluted share. $2.4 million pre-tax dollars or $2.5 million after-tax of this charge was recorded in the fourth quarter. Additionally, non-operating income for fiscal 2020 included a non-cash gain associated with the remeasurement of a contingent consideration liability related to the MVMT acquisition of $15.4 million pre-tax. $1.7 million of this gains was recorded in the fourth quarter and $13.6 million of this gain was recorded in the second quarter. After tax, the full year benefit equates to $11.7 million or $0.50 per diluted share. Movado Group acquired Olivia Burton on July 3, 2017. Included in the results for fiscal 2020 was approximately $2.8 million of non-cash amortization of the acquired intangible assets, of which approximately $700,000 was in the fourth quarter. After tax, the charge for the full year related to the acquisition…