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Note 11 - Segment Information
 9 Months Ended
Nov. 02, 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 November 2, 2024

                                

Net sales to external customers

   $ 109,503     $ 8,580     $ 1,347     $ 119,430  

Income before income taxes

     8,544       4,381       156       13,081  

Capital expenditures

     3,871       -       -       3,871  

Depreciation and amortization

     3,633       55       -       3,688  

Thirteen weeks ended October 28, 2023

                                

Net sales to external customers

   $ 100,411     $ 6,020     $ 1,131     $ 107,562  

Income before income taxes

     7,233       2,740       375       10,348  

Capital expenditures

     4,986       -       -       4,986  

Depreciation and amortization

     3,152       79       -       3,231  
                                 

Thirty-nine weeks ended November 2, 2024

                                

Net sales to external customers

   $ 320,826     $ 21,858     $ 3,274     $ 345,958  

Income before income taxes

     27,650       11,323       682       39,655  

Capital expenditures

     9,571       -       -       9,571  

Depreciation and amortization

     10,822       161       -       10,983  

Thirty-nine weeks ended October 28, 2023

                                

Net sales to external customers

   $ 315,972     $ 17,686     $ 3,179     $ 336,837  

Income before income taxes

     31,225       7,882       1,073       40,180  

Capital expenditures

     11,124       -       -       11,124  

Depreciation and amortization

     9,266       274       -       9,540  

Total Assets as of:

                                

November 2, 2024

   $ 271,691     $ 11,405     $ 2,766     $ 285,862  

February 3, 2024

     262,299       8,801       1,225       272,325  

October 28, 2023

     238,604       10,753       1,186       250,543  

 

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 November 2, 2024

                                

Net sales to external customers

   $ 100,835     $ 16,080     $ 2,515     $ 119,430  

Thirteen weeks ended October 28, 2023

                                

Net sales to external customers

   $ 93,431     $ 13,037     $ 1,094     $ 107,562  
                                 

Thirty-nine weeks ended November 2, 2024

                                

Net sales to external customers

   $ 297,052     $ 44,541     $ 4,365     $ 345,958  

Property and equipment, net

     50,585       3,913       0       54,498  

Thirty-nine weeks ended October 28, 2023

                                

Net sales to external customers

   $ 297,631     $ 36,822     $ 2,384     $ 336,837  

Property and equipment, net

     48,631       3,283       0       51,914  

 

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.