XML 31 R22.htm IDEA: XBRL DOCUMENT v3.22.2
SEGMENT INFORMATION
 6 Months Ended
Jul. 02, 2022
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The tables below presents certain information for the Company’s reportable segments and unallocated corporate expenses for the periods indicated:
Fiscal quarter endedTwo fiscal quarters ended
(dollars in thousands)July 2, 2022% of
consolidated
net sales		July 3, 2021% of
consolidated
net sales		July 2,
2022		% of
consolidated
net sales		July 3,
2021		% of
consolidated
net sales
Net sales:
U.S. Retail$379,097 54.1 %$423,627 56.8 %$745,455 50.3 %$830,694 54.2 %
U.S. Wholesale224,016 32.0 %231,630 31.0 %531,317 35.9 %515,007 33.6 %
International    97,582 13.9 %91,143 12.2 %205,208 13.8 %188,060 12.2 %
Consolidated net sales$700,695 100.0 %$746,400 100.0 %$1,481,980 100.0 %$1,533,761 100.0 %
Operating income:
% of
segment
net sales
% of
segment
net sales
% of
segment
net sales		% of
segment
net sales
U.S. Retail$55,540 14.7 %$87,080 20.6 %$105,534 14.2 %$163,600 19.7 %
U.S. Wholesale33,593 15.0 %40,592 17.5 %94,099 17.7 %110,650 21.5 %
International12,163 12.5 %9,007 9.9 %22,551 11.0 %18,741 10.0 %
Corporate expenses(*)
(25,878)n/a(29,097)n/a(44,142)n/a(57,913)n/a
Consolidated operating income$75,418 10.8 %$107,582 14.4 %$178,042 12.0 %$235,078 15.3 %
(*)Corporate expenses include expenses related to incentive compensation, stock-based compensation, executive management, severance and relocation, finance, office occupancy, information technology, certain legal fees, consulting fees, and audit fees.
(dollars in millions)Fiscal quarter ended July 3, 2021Two fiscal quarters ended July 3, 2021
Charges:U.S. RetailU.S. WholesaleInternationalU.S. RetailU.S. WholesaleInternational
Incremental costs associated with COVID-19 pandemic$0.5 $0.4 $0.1 $1.6 $1.3 $0.3 
Organizational restructuring(1)
(0.6)— 2.3 (0.6)0.1 2.3 
Gain on modification of retail store leases(2)
(0.4)— — (1.9)— — 
Total charges(3)
$(0.5)$0.4 $2.4 $(0.9)$1.4 $2.6 
(1)Fiscal quarter and two fiscal quarters ended July 3, 2021 include $2.3 million of costs associated with the early exit of the Canada corporate office lease. Fiscal quarter and two fiscal quarters ended July 3, 2021 also includes corporate charges related to organizational restructuring of $0.5 million and $0.9 million, respectively.
(2)Related to gains on the modification of previously impaired retail store leases.
(3)Total charges for two fiscal quarters ended July 3, 2021 exclude a customer bankruptcy recovery of $38,000.