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SEGMENTS | 6 Months Ended
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Jul. 31, 2024
SEGMENTS |
SEGMENTS | NOTE 9 – 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 to retailers under owned, licensed and private label brands, as well as sales related to the Vilebrequin and Karl Lagerfeld businesses, including from retail stores operated by Vilebrequin and Karl Lagerfeld, other than sales of product under the Karl Lagerfeld Paris brand generated by the Company’s retail stores and digital outlets. Wholesale revenues also include royalty revenues from license agreements related to the DKNY, Donna Karan, Karl Lagerfeld, Vilebrequin, G.H. Bass, Andrew Marc and Sonia Rykiel trademarks owned by the Company. The retail operations segment consists primarily of direct sales to consumers through Company-operated stores, which consists primarily of DKNY and Karl Lagerfeld Paris stores, as well as the digital channels for DKNY, Donna Karan, Karl Lagerfeld Paris, G.H. Bass and Wilsons Leather. Substantially all DKNY and Karl Lagerfeld Paris stores are operated as outlet stores. ​ The following segment information is presented for the three and six month periods indicated below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended July 31, 2024
​ |  | Wholesale |  | Retail |  | Elimination (1) |  | Total
​ | ​ | (In thousands)
Net sales | ​ | $ | 620,311 | ​ | $ | 37,198 | ​ | $ | (12,754) | ​ | $ | 644,755
Cost of goods sold | ​ | ​ | 364,658 | ​ | ​ | 16,977 | ​ | ​ | (12,754) | ​ | ​ | 368,881
Gross profit | ​ | ​ | 255,653 | ​ | ​ | 20,221 | ​ | ​ | — | ​ | ​ | 275,874
Selling, general and administrative expenses | ​ | ​ | 207,442 | ​ | ​ | 21,588 | ​ | ​ | — | ​ | ​ | 229,030
Depreciation and amortization | ​ | ​ | 4,424 | ​ | ​ | 956 | ​ | ​ | — | ​ | ​ | 5,380
Operating profit (loss) | ​ | $ | 43,787 | ​ | $ | (2,323) | ​ | $ | — | ​ | $ | 41,464
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended July 31, 2023
​ |  | Wholesale |  | Retail |  | Elimination (1) |  | Total
​ | ​ | (In thousands)
Net sales | ​ | $ | 639,184 | ​ | $ | 34,341 | ​ | $ | (13,764) | ​ | $ | 659,761
Cost of goods sold | ​ | ​ | 379,884 | ​ | ​ | 16,988 | ​ | ​ | (13,764) | ​ | ​ | 383,108
Gross profit | ​ | ​ | 259,300 | ​ | ​ | 17,353 | ​ | ​ | — | ​ | ​ | 276,653
Selling, general and administrative expenses | ​ | ​ | 216,489 | ​ | ​ | 22,718 | ​ | ​ | — | ​ | ​ | 239,207
Depreciation and amortization | ​ | ​ | 5,027 | ​ | ​ | 932 | ​ | ​ | — | ​ | ​ | 5,959
Operating profit (loss) | ​ | $ | 37,784 | ​ | $ | (6,297) | ​ | $ | — | ​ | $ | 31,487
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended July 31, 2024
​ |  | Wholesale |  | Retail |  | Elimination (1) |  | Total
​ | ​ | (In thousands)
Net sales | ​ | $ | 1,218,075 | ​ | $ | 67,727 | ​ | $ | (31,300) | ​ | $ | 1,254,502
Cost of goods sold | ​ | ​ | 717,885 | ​ | ​ | 33,150 | ​ | ​ | (31,300) | ​ | ​ | 719,735
Gross profit | ​ | ​ | 500,190 | ​ | ​ | 34,577 | ​ | ​ | — | ​ | ​ | 534,767
Selling, general and administrative expenses | ​ | ​ | 423,017 | ​ | ​ | 42,634 | ​ | ​ | — | ​ | ​ | 465,651
Depreciation and amortization | ​ | ​ | 11,438 | ​ | ​ | 2,710 | ​ | ​ | — | ​ | ​ | 14,148
Operating profit (loss) | ​ | $ | 65,735 | ​ | $ | (10,767) | ​ | $ | — | ​ | $ | 54,968
​ ​ ​ ​ ​ ​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended July 31, 2023
​ |  | Wholesale |  | Retail |  | Elimination (1) |  | Total
​ | ​ | (In thousands)
Net sales | ​ | $ | 1,226,086 | ​ | $ | 64,558 | ​ | $ | (24,294) | ​ | $ | 1,266,350
Cost of goods sold | ​ | ​ | 732,354 | ​ | ​ | 31,837 | ​ | ​ | (24,294) | ​ | ​ | 739,897
Gross profit | ​ | ​ | 493,732 | ​ | ​ | 32,721 | ​ | ​ | — | ​ | ​ | 526,453
Selling, general and administrative expenses | ​ | ​ | 420,578 | ​ | ​ | 46,590 | ​ | ​ | — | ​ | ​ | 467,168
Depreciation and amortization | ​ | ​ | 10,772 | ​ | ​ | 1,763 | ​ | ​ | — | ​ | ​ | 12,535
Operating profit (loss) | ​ | $ | 62,382 | ​ | $ | (15,632) | ​ | $ | — | ​ | $ | 46,750
​ (1)Represents intersegment sales to the Company’s retail operations segment. ​ ​ The total net sales by licensed and proprietary product sales for each of the Company’s reportable segments are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended
​ |  | July 31, 2024 |  | July 31, 2023 |  | July 31, 2024 |  | July 31, 2023
​ | ​ | (In thousands)
Licensed brands | ​ | $ | 286,898 | ​ | $ | 338,656 | ​ | $ | 548,765 | ​ | $ | 636,661
Proprietary brands | ​ | ​ | 333,413 | ​ | ​ | 300,528 | ​ | ​ | 669,310 | ​ | ​ | 589,425
Wholesale net sales | ​ | $ | 620,311 | ​ | $ | 639,184 | ​ | $ | 1,218,075 | ​ | $ | 1,226,086
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Licensed brands | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
Proprietary brands | ​ | ​ | 37,198 | ​ | ​ | 34,341 | ​ | ​ | 67,727 | ​ | ​ | 64,558
Retail net sales | ​ | $ | 37,198 | ​ | $ | 34,341 | ​ | $ | 67,727 | ​ | $ | 64,558
​

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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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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