XML 34 R11.htm IDEA: XBRL DOCUMENT v2.4.0.6
Segments
 9 Months Ended
Oct. 31, 2012
Segments [Abstract]  
Segments

Note 6 - Segments

The Company’s reportable segments are business units that offer products through different channels of distribution and are managed separately. The Company operates in four segments: wholesale licensed products, wholesale non-licensed products, retail operations and other. The other segment consists of the operations of the Vilebrequin business added as a result of the Company’s acquisition of Vilebrequin in August 2012. There is substantial intersegment cooperation, cost allocations and sharing of assets. As a result, the Company does not represent that these segments, if operated independently, would report the operating results set forth in the table below. The following information, in thousands, is presented for the three and nine month periods indicated below:

 

                                                 
    Three Months Ended October 31, 2012  
    Wholesale
Licensed		     Wholesale
Non-Licensed		     Retail     Other     Elimination (1)     Total  

Net sales

   $ 402,734     $ 102,616     $ 44,655     $ 6,834     $ (13,326 )    $ 543,513  

Cost of goods sold

     270,308       71,916       22,401       2,007       (13,326 )      353,306  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Gross profit

     132,426       30,700       22,254       4,827       —         190,207  

Selling, general and administrative (2)

     67,385       14,204       19,788       4,910       —         106,287  

Depreciation and amortization

     539       1,030       693       549       —         2,811  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Operating profit (loss)

   $ 64,502     $ 15,466     $ 1,773     $ (632 )    $ —       $ 81,109  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
     
          Three Months Ended October 31, 2011  
          

Wholesale
Licensed

     Wholesale
Non-Licensed		     Retail     Elimination (1)     Total  

Net sales

           $ 374,171     $ 109,915     $ 36,880     $ (10,957 )    $ 510,009  

Cost of goods sold

             262,483       77,171       19,037       (10,957 )      347,734  
           

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Gross profit

             111,688       32,744       17,843       —         162,275  

Selling, general and administrative

             55,774       13,419       17,765       —         86,958  

Depreciation and amortization

             344       1,000       531       —         1,875  
           

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Operating profit (loss)

           $ 55,570     $ 18,325     $ (453 )    $ —       $ 73,442  
           

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
   
    Nine Months Ended October 31, 2012  
    

Wholesale
Licensed

     Wholesale
Non-Licensed		     Retail     Other     Elimination (1)     Total  

Net sales

   $ 738,108     $ 198,218     $ 113,705     $ 6,834     $ (32,424 )    $ 1,024,441  

Cost of goods sold

     518,684       143,517       58,918       2,007       (32,424 )      690,702  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Gross profit

     219,424       54,701       54,787       4,827       —         333,739  

Selling, general and administrative ( 3 )

     149,303       33,880       54,262       4,910       —         242,355  

Depreciation and amortization

     1,542       3,007       1,866       549       —         6,964  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Operating profit (loss)

   $ 68,579     $ 17,814     $ (1,341 )    $ (632 )    $ —       $ 84,420  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
     
          Nine Months Ended October 31, 2011  
          

Wholesale
Licensed

     Wholesale
Non-Licensed		     Retail     Elimination (1)     Total  

Net sales

           $  659,985     $ 207,433     $ 97,721     $ (28,284 )    $ 936,855  

Cost of goods sold

             475,029       150,291       52,518       (28,284 )      649,554  
           

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Gross profit

             184,956       57,142       45,203       —         287,301  

Selling, general and administrative

             122,941       32,112       49,655       —         204,708  

Depreciation and amortization

             916       2,950       1,385       —         5,251  
           

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Operating profit (loss)

           $ 61,099     $ 22,080     $ (5,837 )    $ —       $ 77,342  
           

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

(1) Represents intersegment sales to the Company’s retail operations.
(2) Includes $1.8 million of expenses and integration costs associated with the Vilebrequin acquisition which have been allocated across the segments.
(3) Includes $3.7 million of expenses and integration costs associated with the Vilebrequin acquisition which have been allocated across the segments.

Included in finished goods inventory at October 31, 2012 are approximately $198.3 million, $38.9 million, $55.0 million and $7.6 million of inventories for wholesale licensed products, wholesale non-licensed products, retail operations and other segments, respectively. Included in finished goods inventory at October 31, 2011 are approximately $175.6 million, $37.3 million and $52.3 million of inventories for wholesale licensed products, wholesale non-licensed products and retail operations segments, respectively. Substantially all other assets are commingled.