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SEGMENT INFORMATION | 3 Months Ended
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Mar. 29, 2025
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION The Company has identified three operating and reportable segments: U.S. Retail, U.S. Wholesale, and International. The U.S. Retail segment consists of revenue primarily from sales of products in the United States through our retail stores and eCommerce websites. Similarly, the U.S. Wholesale segment consists of revenue primarily from sales in the United States of products to our wholesale partners. The International segment consists of revenue primarily from sales of products outside the United States, largely through our retail stores and eCommerce websites in Canada and Mexico, and sales to our international wholesale customers and licensees. The Company sells similar products in each of its three segments. The Company’s chief operating decision maker is the Chief Executive Officer. The chief operating decision maker evaluates the operating performance of the segments based upon each segment’s net sales and segment operating income. Segment operating income includes net sales, royalty income, and related cost of goods sold and selling, general, and administrative expenses attributable to each segment. Segment operating income excludes unallocated corporate expenses as well as specific charges that are not directly attributable to segment operations, including restructuring costs, operating model improvement costs, leadership transition costs, and impairment charges related to goodwill and indefinite-lived intangible assets. In fiscal 2024, the Company changed its measure of segment profitability to segment operating income, which excludes the charges mentioned above, and which were included in our previous measure of segment profitability, to better align with management’s assessment of segment performance and to provide better insights into segment performance. Prior period segment operating income for the first fiscal quarter ended March 30, 2024 has been recast to conform to the current presentation. The Company does not evaluate performance or allocate resources based on segment asset data, and therefore total segments assets are not presented. Certain costs, including incentive compensation for certain employees, and various other general corporate costs that are not specifically allocable to segments, are included in unallocated corporate expenses below. Segment Performance The tables below present certain segment information for our reportable segments for the periods indicated:
| Fiscal quarter ended March 29, 2025
(dollars in thousands) | U.S. Retail |  | U.S. Wholesale |  | International |  | Total
Net sales | $ | 294,432 |  |  | $ | 250,096 |  |  | $ | 85,299 |  |  | $ | 629,827 |
Cost of goods sold | 120,649 |  |  | 170,608 |  |  | 47,480 |  |  | 338,737 |
Selling expenses(1) | 121,522 |  |  | 2,389 |  |  | 24,254 |  |  | 148,165 |
Distribution expenses(2) | 19,250 |  |  | 15,227 |  |  | 6,116 |  |  | 40,593 |
Other segment items(3) | 30,703 |  |  | 6,563 |  |  | 7,664 |  |  | 44,930 |
Segment operating income (loss) | $ | 2,308 |  |  | $ | 55,309 |  |  | $ | (215) |  |  | $ | 57,402 |
(1)Selling expenses include the costs of operating our retail stores and eCommerce channels, as well as wholesale sales management costs. (2)Distribution expenses include payments to third-party shippers and handling costs to process product through our distribution facilities, including eCommerce fulfillment costs, and delivery to our wholesale customers and to our retail stores. (3)Other segment items include royalty income and overhead costs that are attributable to our reportable segments and include allocated accounting, finance, human resources, and information technology expenses, occupancy costs, and other benefit and compensation programs, including performance-based compensation.
| Fiscal quarter ended March 30, 2024
(dollars in thousands) | U.S. Retail |  | U.S. Wholesale |  | International |  | Total
Net sales | $ | 307,642 |  |  | $ | 264,131 |  |  | $ | 89,719 |  |  | $ | 661,492 |
Cost of goods sold | 123,523 |  |  | 176,938 |  |  | 45,841 |  |  | 346,302 |
Selling expenses | 115,020 |  |  | 3,011 |  |  | 26,607 |  |  | 144,638 |
Distribution expenses | 20,044 |  |  | 14,878 |  |  | 5,543 |  |  | 40,465 |
Other segment items | 34,761 |  |  | 5,976 |  |  | 9,542 |  |  | 50,279 |
Segment operating income | $ | 14,294 |  |  | $ | 63,328 |  |  | $ | 2,186 |  |  | $ | 79,808 |
The table below presents a reconciliation of reportable segment operating income to Income before income taxes:
| Fiscal quarter ended
| March 29, 2025 |  | March 30, 2024
Total segment operating income | $ | 57,402 |  |  | $ | 79,808 |
Items not included in segment operating income: |  |  |
Unallocated corporate expenses(1) | (22,012) |  |  | (24,773) |
Leadership transition costs(2) | (6,126) |  |  | — |
Operating model improvement costs(3) | (3,162) |  |  | — |
Consolidated operating income | 26,102 |  |  | 55,035 |
Interest expense | 7,819 |  |  | 7,905 |
Interest income | (3,142) |  |  | (3,089) |
Other expense (income), net | 76 |  |  | 274 |
Income before income taxes | $ | 21,349 |  |  | $ | 49,945 |
(1)Unallocated corporate expenses include corporate overhead expenses that are not directly attributable to one of our reportable segments and include unallocated accounting, finance, legal, human resources, and information technology expenses, occupancy costs for our corporate headquarters, and other benefit and compensation programs, including performance-based compensation. (2)Related to costs associated with the transition of our former CEO, including accelerated vesting of outstanding time-based restricted stock awards pursuant to a retirement agreement approved by the Board of Directors, executive recruiting costs, and other related costs. (3)Primarily related to third-party consulting costs to support operating model improvement costs. Additional Data by Segment The tables below present additional information for our reportable segments for the periods presented: Depreciation and amortization expense
| Fiscal quarter ended
| March 29, 2025 |  | March 30, 2024
U.S. Wholesale | $ | 2,177 |  |  | $ | 2,324 |
U.S. Retail | 8,300 |  |  | 8,944 |
International | 2,322 |  |  | 2,995 |
Unallocated corporate | 455 |  |  | 571 |
Total | 13,254 |  |  | 14,834 |

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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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