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Condensed Consolidated Statements of Earnings - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jul. 29, 2018
Jul. 30, 2017
Jul. 29, 2018
Jul. 30, 2017
Net revenues [1] $ 1,275,174 $ 1,201,606 $ 2,478,174 $ 2,313,113
Cost of goods sold 811,232 778,895 1,582,068 1,494,642
Gross profit 463,942 422,711 896,106 818,471
Selling, general and administrative expenses 389,776 341,127 755,390 674,413
Operating income [2] 74,166 81,584 140,716 144,058
Interest (income) expense, net 1,584 483 2,785 380
Earnings before income taxes 72,582 81,101 137,931 143,678
Income taxes 20,869 28,184 41,050 51,206
Net earnings $ 51,713 $ 52,917 $ 96,881 $ 92,472
Basic earnings per share $ 0.63 $ 0.61 $ 1.17 $ 1.07
Diluted earnings per share $ 0.62 $ 0.61 $ 1.16 $ 1.06
Shares used in calculation of earnings per share:        
Basic 82,342 86,429 82,867 86,696
Diluted 83,167 86,848 83,519 87,238
E-commerce        
Net revenues $ 686,942 $ 630,793 $ 1,333,122 $ 1,211,303
Retail        
Net revenues $ 588,232 $ 570,813 $ 1,145,052 $ 1,101,810
[1] Includes net revenues related to our international operations (including our operations in Canada, Australia, the United Kingdom and our franchise businesses) of approximately $80.7 million and $80.6 million for the thirteen weeks ended July 29, 2018 and July 30, 2017, respectively, and $160.1 million and $150.0 million for the twenty-six weeks ended July 29, 2018 and July 30, 2017, respectively.
[2] The thirteen and twenty-six weeks ended July 29, 2018 includes: $5.3 million of expense related to impairment and early lease termination charges which is primarily recorded in the retail segment, $5.0 million and $11.9 million of expense, respectively, related to our acquisition of Outward, Inc., (primarily acquisition-related compensation costs, the amortization of intangible assets acquired, and the operations of the Outward business), of which $3.6 million and $9.1 million, respectively, is recorded in the e-commerce segment and $1.4 million and $2.8 million, respectively, is recorded in the unallocated segment, as well as $1.9 million and $3.6 million, respectively, of employment-related expense in our corporate functions, which is recorded within the unallocated segment. The twenty-six weeks ended July 30, 2017 includes $5.7 million of severance-related charges in our corporate functions, which is recorded within the unallocated segment.