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Segment Information
 6 Months Ended
Jul. 28, 2012
Segment Information  
Segment Information

(7)           Segment Information

 

The Company’s businesses are grouped into five reportable segments for management and internal financial reporting purposes:  Europe, North American Retail, Asia, North American Wholesale and Licensing. Management evaluates segment performance based primarily on revenues and earnings from operations. The Company believes this segment reporting reflects how its five business segments are managed and each segment’s performance is evaluated. The Europe segment includes the Company’s wholesale and retail operations in Europe and the Middle East. The North American Retail segment includes the Company’s retail operations in North America. The Asia segment includes the Company’s wholesale and retail operations in Asia. The North American Wholesale segment includes the Company’s wholesale operations in North America and export sales to Central and South America. The Licensing segment includes the worldwide licensing operations of the Company. The business segment operating results exclude corporate overhead costs, which consist of shared costs of the organization. These costs are presented separately and generally include, among other things, the following unallocated corporate costs: information technology, human resources, global advertising and marketing, accounting and finance, executive compensation, facilities and legal.

 

Net revenue and earnings from operations are summarized as follows for the three and six months ended July 28, 2012 and July 30, 2011 (in thousands):

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

July 28,
2012

 

July 30,
2011

 

July 28,
2012

 

July 30,
2011

 

Net revenue:

 

 

 

 

 

 

 

 

 

Europe

 

$

246,917

 

$

288,818

 

$

436,732

 

$

499,027

 

North American Retail

 

253,012

 

261,053

 

504,810

 

508,510

 

Asia

 

66,826

 

55,283

 

131,661

 

115,370

 

North American Wholesale

 

41,628

 

43,868

 

85,546

 

89,514

 

Licensing

 

27,010

 

28,137

 

55,910

 

56,982

 

 

 

$

635,393

 

$

677,159

 

$

1,214,659

 

$

1,269,403

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) from operations:

 

 

 

 

 

 

 

 

 

Europe

 

$

24,622

 

$

44,218

 

$

37,103

 

$

77,399

 

North American Retail

 

16,761

 

32,914

 

33,751

 

51,544

 

Asia

 

4,019

 

4,856

 

9,894

 

11,957

 

North American Wholesale

 

7,701

 

10,522

 

17,047

 

21,636

 

Licensing

 

22,869

 

25,200

 

47,455

 

50,490

 

Corporate Overhead

 

(18,671

)

(24,181

)

(48,808

)

(48,564

)

 

 

$

57,301

 

$

93,529

 

$

96,442

 

$

164,462

 

 

Due to the seasonal nature of the Company’s business segments, the above net revenue and operating results are not necessarily indicative of the results that may be expected for the full fiscal year.