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SEGMENT REPORTING | 6 Months Ended
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Aug. 03, 2025
Segment Reporting [Abstract] |
SEGMENT REPORTING | SEGMENT REPORTING We identify our operating segments according to how our business activities are managed and evaluated. Each of our brands are operating segments. Because they share similar economic and other qualitative characteristics, we have aggregated our operating segments into a single reportable segment. Our single reportable segment derives revenues from sales of merchandise through our e-commerce websites, retail stores and direct-mail catalogs, and includes shipping fees received from customers for delivery of merchandise to their homes. The accounting policies of our single reportable segment are described in the Summary of Significant Accounting Policies within Part II, Item 8 of our Annual Report on Form 10-K for the fiscal year ended February 2, 2025. Our chief operating decision maker (“CODM”) is our Chief Executive Officer. The CODM assesses performance for our single reportable segment and decides how to allocate resources based on operating income, which is reported on the Condensed Consolidated Statements of Earnings. Segment balance sheet information is not regularly provided to the CODM. The CODM uses operating income to decide whether to reinvest profits into our operating segments or allocate to other purposes, such as for repurchases of common stock, payment of dividends or acquisitions. Operating income is used to monitor budget versus actual results. The CODM also uses operating income in competitive analysis by benchmarking to our peers. The competitive analysis, along with the monitoring of budget versus actual results, is used in assessing performance of the segment. The following table summarizes reported net revenues, significant segment expenses, operating income and earnings before income taxes for the thirteen and twenty-six weeks ended August 3, 2025 and July 28, 2024.
| For the Thirteen Weeks Ended |  | For the Twenty-six Weeks Ended |
(In thousands) | August 3, 2025 |  | July 28, 2024 |  | August 3, 2025 |  | July 28, 2024 |
Net revenues | $ | 1,836,760 |  |  | $ | 1,788,307 |  |  | $ | 3,566,873 |  |  | $ | 3,448,655 |  |
Less: |  |  |  |  |  |  |  |
Cost of merchandise and shipping | 770,759 |  |  | 787,124 |  |  | 1,537,395 |  |  | 1,456,149 |  |
Occupancy, excluding depreciation | 145,396 |  |  | 141,699 |  |  | 287,225 |  |  | 281,471 |  |
Employment | 312,467 |  |  | 286,085 |  |  | 582,897 |  |  | 555,172 |  |
Advertising | 133,419 |  |  | 143,771 |  |  | 251,169 |  |  | 267,021 |  |
Other segment items 1 | 89,798 |  |  | 95,989 |  |  | 176,675 |  |  | 181,708 |  |
Depreciation and amortization expense | 56,862 |  |  | 55,739 |  |  | 112,740 |  |  | 112,122 |  |
Operating income | 328,059 |  |  | 277,900 |  |  | 618,772 |  |  | 595,012 |  |
Interest income, net | 9,080 |  |  | 15,208 |  |  | 18,613 |  |  | 31,261 |  |
Earnings before income taxes | $ | 337,139 |  |  | $ | 293,108 |  |  | $ | 637,385 |  |  | $ | 626,273 |  |
1 Other segment items within operating income include general expenses, which consist primarily of credit card fees, data processing expenses and administrative expenses. The following table summarizes our net revenues by brand for the thirteen and twenty-six weeks ended August 3, 2025 and July 28, 2024.
| For the Thirteen Weeks Ended 1 |  | For the Twenty-six Weeks Ended 1
(In thousands) | August 3, 2025 |  | July 28, 2024 |  | August 3, 2025 |  | July 28, 2024
Pottery Barn | $ | 724,579 |  |  | $ | 725,323 |  |  | $ | 1,419,671 |  |  | $ | 1,402,658 |
West Elm | 468,550 |  |  | 458,779 |  |  | 905,635 |  |  | 889,088 |
Williams Sonoma | 249,053 |  |  | 239,867 |  |  | 506,546 |  |  | 478,106 |
Pottery Barn Kids and Teen | 286,749 |  |  | 259,408 |  |  | 516,465 |  |  | 481,210 |
Other 2 | 107,829 |  |  | 104,930 |  |  | 218,556 |  |  | 197,593 |
Total 3 | $ | 1,836,760 |  |  | $ | 1,788,307 |  |  | $ | 3,566,873 |  |  | $ | 3,448,655 |
1 Includes business-to-business net revenues within each brand.
2 Primarily consists of net revenues from Rejuvenation, our international franchise operations, Mark and Graham, and GreenRow.
3 Includes net revenues related to our international operations (including our operations in Canada, Australia, the United Kingdom, and our franchise businesses) of approximately $78.0 million and $79.0 million for the thirteen weeks ended August 3, 2025 and July 28, 2024, respectively, and approximately $155.8 million and $152.5 million for the twenty-six weeks ended August 3, 2025 and July 28, 2024, respectively.
Long-lived assets by geographic location, which excludes deferred income taxes, goodwill, and intangible assets, are as follows:
| As of
(In thousands) | August 3, 2025 |  | February 2, 2025 |  | July 28, 2024
U.S. | $ | 2,320,554 |  |  | $ | 2,268,691 |  |  | $ | 2,199,597 |
International | 63,590 |  |  | 68,425 |  |  | 71,569 |
Total | $ | 2,384,144 |  |  | $ | 2,337,116 |  |  | $ | 2,271,166 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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