XML 31 R20.htm IDEA: XBRL DOCUMENT
v3.20.2

Segment Reporting | 9 Months Ended
--- | ---
Oct. 31, 2020
Segment Reporting [Abstract] |
Segment Reporting | 13. Segment Reporting The Company offers lifestyle-oriented general merchandise and consumer products and services through a portfolio of global consumer brands. The Company operates three reportable segments – “Retail,” “Wholesale” and “Subscription.” The Company’s Retail segment consists of the Anthropologie, Bhldn, Free People, FP Movement, Terrain, Urban Outfitters and Menus & Venues brands. The Company has aggregated its brands into the Retail segment based upon their shared management, customer base and economic characteristics. Reporting in this format provides management with the financial information necessary to evaluate the success of the segments and the overall business. The Company’s Retail segment omni-channel strategy enhances its customers’ brand experience by providing a seamless approach to the customer shopping experience. All available Company-owned Retail segment shopping channels are fully integrated, including stores, websites, mobile applications, catalogs and customer contact centers. The Company’s Wholesale segment consists of the Free People and Urban Outfitters brands. The Wholesale segment sells through department and specialty stores worldwide, digital businesses and the Retail segment. The Anthropologie brand exited the wholesale business in the third quarter of fiscal 2021. The Subscription segment consists of the Nuuly brand, which is a monthly women’s apparel subscription rental service that launched on July 30, 2019. The Company evaluates the performance of each segment based on the net sales and pre-tax income from operations (excluding intercompany charges) of the segment. The Company accounts for intersegment sales and transfers as if the sales and transfers were made to third parties making similar volume purchases. Corporate expenses include expenses incurred and directed by the corporate office that are not allocated to segments. The principal identifiable assets for the Retail and Wholesale segments are inventory and property and equipment. The principal identifiable assets for the Subscription segment are rental product and property and equipment. The accounting policies of the reportable segments are the same as the policies described in Note 2, “Summary of Significant Accounting Policies,” in the Notes to Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2020. All of the Company’s segments are highly diversified. No one customer constitutes more than 10% of the Company’s total consolidated net sales. A summary of the information about the Company’s operations by segment is as follows:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | October 31, |  |  | October 31, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Net sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Retail operations |  | $ | 895,608 |  |  | $ | 897,130 |  |  | $ | 2,214,311 |  |  | $ | 2,558,386 |
Wholesale operations |  |  | 71,118 |  |  |  | 93,311 |  |  |  | 146,707 |  |  |  | 263,829 |
Subscription operations |  |  | 6,742 |  |  |  | 2,032 |  |  |  | 17,684 |  |  |  | 2,032 |
Intersegment elimination |  |  | (3,861 | ) |  |  | (5,004 | ) |  |  | (17,346 | ) |  |  | (10,036 | )
Total net sales |  | $ | 969,607 |  |  | $ | 987,469 |  |  | $ | 2,361,356 |  |  | $ | 2,814,211 |
Income (loss) from operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Retail operations |  | $ | 101,969 |  |  | $ | 83,687 |  |  | $ | 24,873 |  |  | $ | 197,378 |
Wholesale operations |  |  | 14,947 |  |  |  | 10,204 |  |  |  | (16,520 | ) |  |  | 42,319 |
Subscription operations |  |  | (4,004 | ) |  |  | (6,320 | ) |  |  | (14,579 | ) |  |  | (11,957 | )
Intersegment elimination |  |  | 116 |  |  |  | 300 |  |  |  | (378 | ) |  |  | 549 |
Total segment operating income (loss) |  |  | 113,028 |  |  |  | 87,871 |  |  |  | (6,604 | ) |  |  | 228,289 |
General corporate expenses (1) |  |  | (14,520 | ) |  |  | (12,602 | ) |  |  | (24,204 | ) |  |  | (34,939 | )
Total income (loss) from operations |  | $ | 98,508 |  |  | $ | 75,269 |  |  | $ | (30,808 | ) |  | $ | 193,350 |
(1) General corporate expenses during the nine months ended October 31, 2020 benefitted from the recognition of coronavirus related government relief packages. |
|  | October 31, |  |  | January 31, |  |  | October 31, |
|  | 2020 |  |  | 2020 |  |  | 2019 |
Inventory |  |  |  |  |  |  |  |  |  |  |  |
Retail operations |  | $ | 450,312 |  |  | $ | 347,837 |  |  | $ | 468,810 |
Wholesale operations |  |  | 38,922 |  |  |  | 61,697 |  |  |  | 62,755 |
Total inventory |  | $ | 489,234 |  |  | $ | 409,534 |  |  | $ | 531,565 |
Rental product, net (1) |  |  |  |  |  |  |  |  |  |  |  |
Subscription operations |  | $ | 14,053 |  |  | $ | 16,447 |  |  | $ | 10,865 |
Total rental product, net |  | $ | 14,053 |  |  | $ | 16,447 |  |  | $ | 10,865 |
(1) Rental product, net is included in "Deferred income taxes and other assets" in the Condensed Consolidated Balance Sheets. |
Property and equipment, net |  |  |  |  |  |  |  |  |  |  |  |
Retail operations |  | $ | 901,817 |  |  | $ | 859,918 |  |  | $ | 863,234 |
Wholesale operations |  |  | 2,212 |  |  |  | 2,577 |  |  |  | 2,496 |
Subscription operations |  |  | 26,535 |  |  |  | 27,537 |  |  |  | 24,808 |
Total property and equipment, net |  | $ | 930,564 |  |  | $ | 890,032 |  |  | $ | 890,538 |
The following tables summarize net sales and percentage of net sales from contracts with customers by merchandise category:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | October 31, |  |  | October 31, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Net sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Apparel (1) |  | $ | 622,776 |  |  | $ | 671,142 |  |  | $ | 1,501,053 |  |  | $ | 1,902,782 |
Home (2) |  |  | 189,527 |  |  |  | 146,249 |  |  |  | 455,947 |  |  |  | 415,759 |
Accessories (3) |  |  | 116,417 |  |  |  | 124,760 |  |  |  | 276,361 |  |  |  | 341,641 |
Other (4) |  |  | 40,887 |  |  |  | 45,318 |  |  |  | 127,995 |  |  |  | 154,029 |
Total net sales |  | $ | 969,607 |  |  | $ | 987,469 |  |  | $ | 2,361,356 |  |  | $ | 2,814,211 |
As a percentage of net sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Apparel (1) |  |  | 64 | % |  |  | 68 | % |  |  | 64 | % |  |  | 68 | %
Home (2) |  |  | 20 | % |  |  | 15 | % |  |  | 19 | % |  |  | 15 | %
Accessories (3) |  |  | 12 | % |  |  | 13 | % |  |  | 12 | % |  |  | 12 | %
Other (4) |  |  | 4 | % |  |  | 4 | % |  |  | 5 | % |  |  | 5 | %
Total net sales |  |  | 100 | % |  |  | 100 | % |  |  | 100 | % |  |  | 100 | %
(1) Apparel includes intimates and activewear |
(2) Home includes home furnishings, electronics, gifts and decorative items |
(3) Accessories includes footwear, jewelry and handbags |
(4) Other includes beauty, shipping and handling, the Menus & Venues brand and the Subscription segment |
Apparel, Home, and Accessories are sold through both the Retail and Wholesale segments. Revenue recognized from the Other category is primarily attributable to the Retail segment. The Company has foreign operations primarily in Europe and Canada. Revenues and long-lived assets, based upon the Company’s domestic and foreign operations, are as follows:
|  | October 31, |  |  | January 31, |  |  | October 31, |
|  | 2020 |  |  | 2020 |  |  | 2019 |
Property and equipment, net |  |  |  |  |  |  |  |  |  |  |  |
Domestic operations |  | $ | 747,273 |  |  | $ | 763,411 |  |  | $ | 779,018 |
Foreign operations |  |  | 183,291 |  |  |  | 126,621 |  |  |  | 111,520 |
Total property and equipment, net |  | $ | 930,564 |  |  | $ | 890,032 |  |  | $ | 890,538 |
|  | Three Months Ended |  |  | Nine Months Ended |
|  | October 31, |  |  | October 31, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Net Sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic operations |  | $ | 847,898 |  |  | $ | 865,586 |  |  | $ | 2,081,151 |  |  | $ | 2,468,991 |
Foreign operations |  |  | 121,709 |  |  |  | 121,883 |  |  |  | 280,205 |  |  |  | 345,220 |
Total net sales |  | $ | 969,607 |  |  | $ | 987,469 |  |  | $ | 2,361,356 |  |  | $ | 2,814,211 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration