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Segments | 9 Months Ended
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Oct. 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 which is expected to be completed by the end of fiscal 2021. 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 nine-month periods indicated below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended October 31, 2020
​ |  | Wholesale |  | Retail |  | Elimination (1) |  | Total
​ | ​ | (In thousands)
Net sales | ​ | $ | 783,030 | ​ | $ | 57,982 | ​ | $ | (14,451) | ​ | $ | 826,561
Cost of goods sold | ​ | ​ | 504,919 | ​ | ​ | 38,338 | ​ | ​ | (14,451) | ​ | ​ | 528,806
Gross profit | ​ | ​ | 278,111 | ​ | ​ | 19,644 | ​ | ​ | — | ​ | ​ | 297,755
Selling, general and administrative expenses | ​ | ​ | 134,050 | ​ | ​ | 43,575 | ​ | ​ | — | ​ | ​ | 177,625
Depreciation and amortization | ​ | ​ | 8,472 | ​ | ​ | 1,715 | ​ | ​ | — | ​ | ​ | 10,187
Asset impairments, net of gain on lease modifications | ​ | ​ | (102) | ​ | ​ | (15) | ​ | ​ | — | ​ | ​ | (117)
Operating profit (loss) | ​ | $ | 135,691 | ​ | $ | (25,631) | ​ | $ | — | ​ | $ | 110,060
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended October 31, 2019
​ |  | Wholesale |  | Retail |  | Elimination (1) |  | Total
​ | ​ | (In thousands)
Net sales | ​ | $ | 1,067,858 | ​ | $ | 89,671 | ​ | $ | (29,126) | ​ | $ | 1,128,403
Cost of goods sold | ​ | ​ | 713,063 | ​ | ​ | 45,447 | ​ | ​ | (29,126) | ​ | ​ | 729,384
Gross profit | ​ | ​ | 354,795 | ​ | ​ | 44,224 | ​ | ​ | — | ​ | ​ | 399,019
Selling, general and administrative expenses | ​ | ​ | 190,166 | ​ | ​ | 56,414 | ​ | ​ | — | ​ | ​ | 246,580
Depreciation and amortization | ​ | ​ | 7,748 | ​ | ​ | 1,953 | ​ | ​ | — | ​ | ​ | 9,701
Gain on lease modifications | ​ | ​ | — | ​ | ​ | (124) | ​ | ​ | — | ​ | ​ | (124)
Operating profit (loss) | ​ | $ | 156,881 | ​ | $ | (14,019) | ​ | $ | — | ​ | $ | 142,862
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended October 31, 2020
​ |  | Wholesale |  | Retail |  | Elimination (1) |  | Total
​ | ​ | (In thousands)
Net sales | ​ | $ | 1,428,711 | ​ | $ | 126,397 | ​ | $ | (26,204) | ​ | $ | 1,528,904
Cost of goods sold | ​ | ​ | 914,900 | ​ | ​ | 83,359 | ​ | ​ | (26,204) | ​ | ​ | 972,055
Gross profit | ​ | ​ | 513,811 | ​ | ​ | 43,038 | ​ | ​ | — | ​ | ​ | 556,849
Selling, general and administrative expenses | ​ | ​ | 323,377 | ​ | ​ | 130,970 | ​ | ​ | — | ​ | ​ | 454,347
Depreciation and amortization | ​ | ​ | 25,155 | ​ | ​ | 4,590 | ​ | ​ | — | ​ | ​ | 29,745
Asset impairments, net of gain on lease modifications | ​ | ​ | 505 | ​ | ​ | 16,867 | ​ | ​ | — | ​ | ​ | 17,372
Operating profit (loss) | ​ | $ | 164,774 | ​ | $ | (109,389) | ​ | $ | — | ​ | $ | 55,385
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended October 31, 2019
​ |  | Wholesale |  | Retail |  | Elimination (1) |  | Total
​ | ​ | (In thousands)
Net sales | ​ | $ | 2,227,404 | ​ | $ | 255,282 | ​ | $ | (76,839) | ​ | $ | 2,405,847
Cost of goods sold | ​ | ​ | 1,480,678 | ​ | ​ | 135,156 | ​ | ​ | (76,839) | ​ | ​ | 1,538,995
Gross profit | ​ | ​ | 746,726 | ​ | ​ | 120,126 | ​ | ​ | — | ​ | ​ | 866,852
Selling, general and administrative expenses | ​ | ​ | 478,964 | ​ | ​ | 165,923 | ​ | ​ | — | ​ | ​ | 644,887
Depreciation and amortization | ​ | ​ | 23,033 | ​ | ​ | 5,930 | ​ | ​ | — | ​ | ​ | 28,963
Gain on lease modifications | ​ | ​ | — | ​ | ​ | (2,346) | ​ | ​ | — | ​ | ​ | (2,346)
Operating profit (loss) | ​ | $ | 244,729 | ​ | $ | (49,381) | ​ | $ | — | ​ | $ | 195,348
​ (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:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | October 31, 2020 |  | October 31, 2019 |  | January 31, 2020
​ | ​ | (In thousands)
Wholesale | ​ | $ | 2,028,798 | ​ | $ | 2,342,209 | ​ | $ | 1,912,175
Retail | ​ | ​ | 105,702 | ​ | ​ | 348,898 | ​ | ​ | 272,832
Corporate | ​ | ​ | 334,916 | ​ | ​ | 237,500 | ​ | ​ | 380,130
Total assets | ​ | $ | 2,469,416 | ​ | $ | 2,928,607 | ​ | $ | 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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