XML 58 R19.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Segment Information | 9 Months Ended
--- | ---
Dec. 27, 2014
Segment Information | 12. Segment Information The Company operates its business through three operating segments—Retail, Wholesale and Licensing—which are based on its business activities and organization. The operating segments are segments of the Company for which separate financial information is available and for which operating results are evaluated regularly by executive management in deciding how to allocate resources, as well as in assessing performance. The primary key performance indicators are net sales or revenue (in the case of Licensing) and operating income for each segment. The Company’s reportable segments represent channels of distribution that offer similar merchandise, customer experience and sales/marketing strategies. Sales of the Company’s products through Company owned stores for the Retail segment include “Collection,” “Lifestyle” including “concessions,” and outlet stores located throughout North America, Europe, and Japan. Products sold through the Retail segment include women’s apparel, accessories (which include handbags and small leather goods such as wallets), footwear and licensed products, such as watches, jewelry, fragrances and eyewear. The Wholesale segment includes sales primarily to major department stores and specialty shops throughout North America and Europe. Products sold through the Wholesale segment include accessories (which include handbags and small leather goods such as wallets), footwear and women’s and men’s apparel. The Licensing segment includes royalties earned on licensed products and use of the Company’s trademarks, and rights granted to third parties for the right to sell the Company’s products in certain geographical regions such as the Middle East, Eastern Europe, Latin America and the Caribbean, throughout all of Asia (excluding Japan), as well as Australia. All intercompany revenues are eliminated in consolidation and are not reviewed when evaluating segment performance. Corporate overhead expenses are allocated to the segments based upon specific usage or other allocation methods. The Company has allocated $12.1 million and $1.9 million of its recorded goodwill to its Wholesale and Licensing segments, respectively. The Company does not have identifiable assets separated by segment. The following table presents the key performance information of the Company’s reportable segments (in thousands):
|  |  |  | Three Months Ended |  |  | Nine Months Ended |
|  |  |  | December 27, 2014 |  |  | December 28, 2013 |  |  | December 27, 2014 |  |  | December 28, 2013 |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales: |  | Retail |  | $ | 689,388 |  |  | $ | 503,380 |  |  | $ | 1,665,209 |  |  | $ | 1,184,625 |
|  | Wholesale |  |  | 573,838 |  |  |  | 461,407 |  |  |  | 1,494,723 |  |  |  | 1,103,854 |
Licensing |  |  |  |  | 51,500 |  |  |  | 47,442 |  |  |  | 130,553 |  |  |  | 104,912 |
Total revenue |  | $ | 1,314,726 |  |  | $ | 1,012,229 |  |  | $ | 3,290,485 |  |  | $ | 2,393,391 |
Income from operations: |
Retail |  | $ | 214,928 |  |  | $ | 171,281 |  |  | $ | 484,951 |  |  | $ | 377,528 |
Wholesale |  |  | 170,487 |  |  |  | 140,685 |  |  |  | 444,811 |  |  |  | 320,262 |
Licensing |  |  | 33,062 |  |  |  | 31,274 |  |  |  | 71,044 |  |  |  | 64,472 |
Income from operations |  | $ | 418,477 |  |  | $ | 343,240 |  |  | $ | 1,000,806 |  |  | $ | 762,262 |
Depreciation and amortization expense for each segment are as follows (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | December 27, 2014 |  |  | December 28, 2013 |  |  | December 27, 2014 |  |  | December 28, 2013 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Retail |  | $ | 22,414 |  |  | $ | 12,316 |  |  | $ | 62,401 |  |  | $ | 32,749 |
Wholesale |  |  | 15,007 |  |  |  | 9,145 |  |  |  | 37,505 |  |  |  | 22,519 |
Licensing |  |  | 71 |  |  |  | 194 |  |  |  | 648 |  |  |  | 419 |
Total depreciation and amortization |  | $ | 37,492 |  |  | $ | 21,655 |  |  | $ | 100,554 |  |  | $ | 55,687 |
Total revenue (as recognized based on country of origin), and long-lived assets by geographic location of the consolidated Company are as follows (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | December 27, 2014 |  |  | December 28, 2013 |  |  | December 27, 2014 |  |  | December 28, 2013 |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America (U.S. and Canada) |  | $ | 1,057,281 |  |  | $ | 862,619 |  |  | $ | 2,578,396 |  |  | $ | 2,032,450 |
Europe |  |  | 241,415 |  |  |  | 140,294 |  |  |  | 664,836 |  |  |  | 335,822 |
Japan |  |  | 16,030 |  |  |  | 9,316 |  |  |  | 47,253 |  |  |  | 25,119 |
Total revenue |  | $ | 1,314,726 |  |  | $ | 1,012,229 |  |  | $ | 3,290,485 |  |  | $ | 2,393,391 |
|  | December 27, 2014 |  |  | March 29, 2014 |
Long-lived assets: |  |  |  |  |  |  |  |
North America (U.S. and Canada) |  | $ | 411,669 |  |  | $ | 283,162 |
Europe |  |  | 173,010 |  |  |  | 108,074 |
Japan |  |  | 11,269 |  |  |  | 7,476 |
Total Long-lived assets: |  | $ | 595,948 |  |  | $ | 398,712 |

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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration