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Note 11 - Segment Information
 6 Months Ended
Aug. 03, 2024
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

11. Segment Information 

 

The Company’s operations are conducted through three operating segments consisting of direct-to-consumer (“DTC”), commercial and international franchising. The DTC segment includes the operating activities of corporately-managed locations and other retail delivery operations in the U.S., Canada, Ireland and the U.K., including the Company’s e-commerce sites and temporary stores. The commercial segment includes the Company’s transactions with other businesses, mainly comprised of licensing the Company’s intellectual properties for third-party use and wholesale activities. The international franchising segment includes the licensing activities of the Company’s franchise agreements with store locations in select countries in Asia, Australia, the Middle East, Africa, and South America. The operating segments have discrete sources of revenue, different capital structures and different cost structures. These operating segments represent the basis on which the Company’s chief operating decision maker regularly evaluates the business in assessing performance, determining the allocation of resources and the pursuit of future growth opportunities. Accordingly, the Company has determined that each of its operating segments represent a reportable segment. The three reportable segments follow the same accounting policies used for the Company’s consolidated financial statements.

 

Following is a summary of the financial information for the Company’s reportable segments (in thousands):

 

  

Direct-to-

      

International

     
  

Consumer

  

Commercial

  

Franchising

  

Total

 

Thirteen weeks ended August 3, 2024

                

Net sales to external customers

 $103,455  $7,294  $1,049  $111,798 

Income before income taxes

  7,384   3,835   326   11,545 

Capital expenditures

  3,270   -   -   3,270 

Depreciation and amortization

  3,582   54   -   3,636 

Thirteen weeks ended July 29, 2023

                

Net sales to external customers

 $103,465  $4,978  $782  $109,225 

Income before income taxes

  8,037   2,252   190   10,479 

Capital expenditures

  3,073   -   -   3,073 

Depreciation and amortization

  3,141   88   -   3,229 
                 

Twenty-six weeks ended August 3, 2024

                

Net sales to external customers

 $211,323  $13,278  $1,927  $226,528 

Income before income taxes

  19,106   6,942   526   26,574 

Capital expenditures

  5,700   -   -   5,700 

Depreciation and amortization

  7,188   106   -   7,294 

Twenty-six weeks ended July 29, 2023

                

Net sales to external customers

 $215,561  $11,666  $2,048  $229,275 

Income before income taxes

  23,992   5,142   698   29,832 

Capital expenditures

  6,138   -   -   6,138 

Depreciation and amortization

  6,114   195   -   6,309 

Total Assets as of:

                

August 3, 2024

 $268,047  $10,345  $1,067  $279,459 

February 3, 2024

  262,299   8,801   1,225   272,325 

July 29, 2023

  249,021   8,379   1,013   258,413 

 

The Company’s reportable segments are primarily determined by the types of products and services that they offer. Each reportable segment may operate in many geographic areas. Revenues are recognized in the geographic areas based on the location of the customer or franchisee. The following schedule is a summary of the Company’s sales to external customers and long-lived assets by geographic area (in thousands):

 

  

North

             
  

America (1)

  

Europe (2)

  

Other (3)

  

Total

 

Thirteen weeks ended August 3, 2024

                

Net sales to external customers

 $96,766  $14,012  $1,020  $111,798 

Thirteen weeks ended July 29, 2023

                

Net sales to external customers

 $97,336  $11,127  $762  $109,225 
                 

Twenty-six weeks ended August 3, 2024

                

Net sales to external customers

 $196,217  $28,461  $1,850  $226,528 

Property and equipment, net

  49,436   3,867   0   53,303 

Twenty-six weeks ended July 29, 2023

                

Net sales to external customers

 $204,200  $23,785  $1,290  $229,275 

Property and equipment, net

  47,062   3,373   0   50,435 

 

For purposes of this table only:

(1)  North America includes corporately-managed locations in the United States and Canada.

(2)  Europe includes corporately-managed locations in the U.K. and Ireland and sales to wholesale customers in Europe.

(3)  Other includes franchise businesses outside of North America and Europe.