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Segments | 6 Months Ended
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Jul. 31, 2020
Segments [Abstract] |
SEGMENTS | Note 11 – Segments ​ The Company’s reportable segments are business units that offer products through different channels of distribution. The Company has two reportable segments: wholesale operations and retail operations. The wholesale operations segment includes sales of products under the Company’s owned, licensed and private label brands, as well as sales related to the Vilebrequin business. Wholesale revenues also include revenues from license agreements related to our owned trademarks including DKNY, Donna Karan, Vilebrequin, G.H. Bass and Andrew Marc. The retail operations segment consists primarily of direct sales to consumers through Company-operated stores, consisting primarily of Wilsons Leather, G.H. Bass and DKNY stores, substantially all of which are operated as outlet stores. Sales through Company-owned channels, with the exception of Vilebrequin, are also included in the retail operations segment. As a result of the restructuring of the Company’s retail operations, the Company is in the process of closing all of its Wilsons Leather and G.H. Bass retail stores. After completion of the restructuring, the Company’s retail operations segment will consist of DKNY and Karl Lagerfeld Paris stores, as well as the digital channels for DKNY, Donna Karan, Karl Lagerfeld Paris, Andrew Marc, Wilsons Leather and G.H. Bass. ​ The following segment information is presented for the three and six-month periods indicated below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended July 31, 2020
​ |  | Wholesale |  | Retail |  | Elimination (1) |  | Total
​ | ​ | (In thousands)
Net sales | ​ | $ | 266,809 | ​ | $ | 34,507 | ​ | $ | (4,104) | ​ | $ | 297,212
Cost of goods sold | ​ | ​ | 143,340 | ​ | ​ | 23,283 | ​ | ​ | (4,104) | ​ | ​ | 162,519
Gross profit | ​ | ​ | 123,469 | ​ | ​ | 11,224 | ​ | ​ | — | ​ | ​ | 134,693
Selling, general and administrative expenses | ​ | ​ | 76,727 | ​ | ​ | 45,375 | ​ | ​ | — | ​ | ​ | 122,102
Depreciation and amortization | ​ | ​ | 8,392 | ​ | ​ | 1,299 | ​ | ​ | — | ​ | ​ | 9,691
Asset impairments, net of gain on lease modifications | ​ | ​ | 612 | ​ | ​ | 13,690 | ​ | ​ | — | ​ | ​ | 14,302
Operating profit (loss) | ​ | $ | 37,738 | ​ | $ | (49,140) | ​ | $ | — | ​ | $ | (11,402)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended July 31, 2019
​ |  | Wholesale |  | Retail |  | Elimination (1) |  | Total
​ | ​ | (In thousands)
Net sales | ​ | $ | 588,601 | ​ | $ | 83,706 | ​ | $ | (28,415) | ​ | $ | 643,892
Cost of goods sold | ​ | ​ | 395,728 | ​ | ​ | 44,810 | ​ | ​ | (28,415) | ​ | ​ | 412,123
Gross profit | ​ | ​ | 192,873 | ​ | ​ | 38,896 | ​ | ​ | — | ​ | ​ | 231,769
Selling, general and administrative expenses | ​ | ​ | 141,540 | ​ | ​ | 54,908 | ​ | ​ | — | ​ | ​ | 196,448
Depreciation and amortization | ​ | ​ | 7,763 | ​ | ​ | 2,026 | ​ | ​ | — | ​ | ​ | 9,789
Gain on lease modifications | ​ | ​ | — | ​ | ​ | (1,393) | ​ | ​ | — | ​ | ​ | (1,393)
Operating profit (loss) | ​ | $ | 43,570 | ​ | $ | (16,645) | ​ | $ | — | ​ | $ | 26,925
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended July 31, 2020
​ |  | Wholesale |  | Retail |  | Elimination (1) |  | Total
​ | ​ | (In thousands)
Net sales | ​ | $ | 645,681 | ​ | $ | 68,415 | ​ | $ | (11,753) | ​ | $ | 702,343
Cost of goods sold | ​ | ​ | 409,981 | ​ | ​ | 45,021 | ​ | ​ | (11,753) | ​ | ​ | 443,249
Gross profit | ​ | ​ | 235,700 | ​ | ​ | 23,394 | ​ | ​ | — | ​ | ​ | 259,094
Selling, general and administrative expenses | ​ | ​ | 189,327 | ​ | ​ | 87,395 | ​ | ​ | — | ​ | ​ | 276,722
Depreciation and amortization | ​ | ​ | 16,683 | ​ | ​ | 2,875 | ​ | ​ | — | ​ | ​ | 19,558
Asset impairments, net of gain on lease modifications | ​ | ​ | 608 | ​ | ​ | 16,881 | ​ | ​ | — | ​ | ​ | 17,489
Operating profit (loss) | ​ | $ | 29,082 | ​ | $ | (83,757) | ​ | $ | — | ​ | $ | (54,675)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended July 31, 2019
​ |  | Wholesale |  | Retail |  | Elimination (1) |  | Total
​ | ​ | (In thousands)
Net sales | ​ | $ | 1,159,240 | ​ | $ | 165,610 | ​ | $ | (47,406) | ​ | $ | 1,277,444
Cost of goods sold | ​ | ​ | 767,308 | ​ | ​ | 89,709 | ​ | ​ | (47,406) | ​ | ​ | 809,611
Gross profit | ​ | ​ | 391,932 | ​ | ​ | 75,901 | ​ | ​ | — | ​ | ​ | 467,833
Selling, general and administrative expenses | ​ | ​ | 288,797 | ​ | ​ | 109,510 | ​ | ​ | — | ​ | ​ | 398,307
Depreciation and amortization | ​ | ​ | 15,284 | ​ | ​ | 3,978 | ​ | ​ | — | ​ | ​ | 19,262
Gain on lease modifications | ​ | ​ | — | ​ | ​ | (2,222) | ​ | ​ | — | ​ | ​ | (2,222)
Operating profit (loss) | ​ | $ | 87,851 | ​ | $ | (35,365) | ​ | $ | — | ​ | $ | 52,486
​ (1)Represents intersegment sales to the Company’s retail operations segment. ​ The total assets for each of the Company’s reportable segments, as well as assets not allocated to a segment, are as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | July 31, 2020 |  | July 31, 2019 |  | January 31, 2020
​ | ​ | (In thousands)
Wholesale | ​ | $ | 1,685,530 | ​ | $ | 2,109,198 | ​ | $ | 1,912,175
Retail | ​ | ​ | 139,373 | ​ | ​ | 362,595 | ​ | ​ | 272,832
Corporate | ​ | ​ | 444,911 | ​ | ​ | 240,643 | ​ | ​ | 380,130
Total assets | ​ | $ | 2,269,814 | ​ | $ | 2,712,436 | ​ | $ | 2,565,137
​

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- 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
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