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OTHER COMMENTS | 6 Months Ended
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Jul. 31, 2022
Other Comments [Abstract] |
OTHER COMMENTS | OTHER COMMENTSThe Company records warehousing and distribution expenses, which are subject to exchange rate fluctuations, as a component of SG&A expenses in its Consolidated Statements of Operations. Warehousing and distribution expenses incurred in the thirteen and twenty-six weeks ended July 31, 2022 totaled $82.0 million and $166.8 million, respectively. Warehousing and distribution expenses incurred in the thirteen and twenty-six weeks ended August 1, 2021 totaled $81.1 million and $164.0 million, respectively.The Company is exposed to credit losses primarily through trade receivables from its customers and licensees. The Company records an allowance for credit losses as a reduction to its trade receivables for amounts that the Company does not expect to recover. An allowance for credit losses is determined through an analysis of the aging of accounts receivable and assessments of collectibility based on historical trends, the financial condition of the Company’s customers and licensees, including any known or anticipated bankruptcies, and an evaluation of current economic conditions as well as the Company’s expectations of conditions in the future. The Company writes off uncollectible trade receivables once collection efforts have been exhausted and third parties confirm the balance is not recoverable. The allowance for credit losses on trade receivables was $49.1 million, $61.9 million and $65.8 million as of July 31, 2022, January 30, 2022 and August 1, 2021, respectively.

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