XML 29 R12.htm IDEA: XBRL DOCUMENT v3.2.0.727
Segments
 6 Months Ended
Jul. 31, 2015
Segment Reporting [Abstract]  
Segments

Note 7 – Segments

 

The Company’s reportable segments are business units that offer products through different channels of distribution. Commencing with the first quarter of fiscal 2016, the Company changed its segment reporting to two reportable segments: wholesale operations and retail operations. This change in the Company’s reportable segments is intended to better represent how the Company’s resources are allocated and its performance is assessed by its Chief Operating Decision Maker. The wholesale operations segment mainly consists of the Company’s former licensed products and non-licensed products segments and includes sales of products under brands licensed by the Company from third parties, as well as sales of products under the Company’s own brands and private label brands. The retail operations segment consists primarily of the Wilsons Leather and G.H. Bass stores, as well as a limited number of Calvin Klein Performance stores.

  

The following information, in thousands, is presented for the three month and six month periods indicated below:

 

    Three Months Ended July 31, 2015  
    Wholesale     Retail     Elimination (1)     Total  
Net sales   $ 391,461     $ 111,497     $ (29,074 )   $ 473,884  
Cost of goods sold     275,308       59,310       (29,074 )     305,544  
Gross profit     116,153       52,187       —       168,340  
Selling, general and administrative     87,081       54,402       —       141,483  
Depreciation and amortization     4,055       1,859       —       5,914  
Operating profit (loss)   $ 25,017     $ (4,074 )   $ —     $ 20,943  

 

    Three Months Ended July 31, 2014  
    Wholesale     Retail     Elimination (1)     Total  
Net sales   $ 341,866     $ 99,393     $ (17,249 )   $ 424,010  
Cost of goods sold     238,512       54,363       (17,249 )     275,626  
Gross profit     103,354       45,030       —       148,384  
Selling, general and administrative     79,222       52,387       —       131,609  
Depreciation and amortization     3,314       1,641       —       4,955  
Operating profit (loss)   $ 20,818     $ (8,998 )   $ —     $ 11,820  

 

    Six Months Ended July 31, 2015  
    Wholesale     Retail     Elimination (1)     Total  
Net sales   $ 743,945     $ 214,026     $ (51,122 )   $ 906,849  
Cost of goods sold     520,717       114,487       (51,122 )     584,082  
Gross profit     223,228       99,539       —       322,767  
Selling, general and administrative     171,675       106,841       —       278,516  
Depreciation and amortization     7,987       3,614       —       11,601  
Operating profit (loss)   $ 43,566     $ (10,916 )   $ —     $ 32,650  

 

    Six Months Ended July 31, 2014  
    Wholesale     Retail     Elimination (1)     Total  
Net sales   $ 626,935     $ 194,421     $ (31,154 )   $ 790,202  
Cost of goods sold     437,808       105,030       (31,154 )     511,684  
Gross profit     189,127       89,391       —       278,518  
Selling, general and administrative     149,920       104,130       —       254,050  
Depreciation and amortization     6,145       3,036       —       9,181  
Operating profit (loss)   $ 33,062     $ (17,775 )   $ —     $ 15,287  

 

(1) Represents intersegment sales to the Company’s retail operations.

 

The total assets for each of the Company’s reportable segments are as follows:

 

    July 31, 2015     July 31, 2014     January 31, 2015  
    (In thousands)  
Wholesale   $ 875,347     $ 820,479     $ 684,479  
Retail     223,829       169,268       182,363  
Corporate     90,303       87,671       179,876  
Total Assets   $ 1,189,479     $ 1,077,418     $ 1,046,718