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Segment Information
 9 Months Ended
Oct. 27, 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 nine months ended October 27, 2012 and October 29, 2011 (in thousands):

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

 

Oct. 27,
2012

 

Oct. 29,
2011

 

Oct. 27,
2012

 

Oct. 29,
2011

 

Net revenue:

 

 

 

 

 

 

 

 

 

Europe

 

$

202,594

 

$

221,041

 

$

639,326

 

$

720,068

 

North American Retail

 

262,064

 

265,637

 

766,874

 

774,147

 

Asia

 

74,838

 

64,782

 

206,499

 

180,152

 

North American Wholesale

 

57,878

 

57,317

 

143,424

 

146,831

 

Licensing

 

31,454

 

34,026

 

87,364

 

91,008

 

 

 

$

628,828

 

$

642,803

 

$

1,843,487

 

$

1,912,206

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) from operations:

 

 

 

 

 

 

 

 

 

Europe

 

$

14,572

 

$

34,152

 

$

51,675

 

$

111,551

 

North American Retail

 

8,952

 

27,533

 

42,703

 

79,077

 

Asia

 

7,799

 

8,248

 

17,693

 

20,205

 

North American Wholesale

 

14,888

 

16,013

 

31,935

 

37,649

 

Licensing

 

27,103

 

30,698

 

74,558

 

81,188

 

Corporate Overhead

 

(15,197

)

(19,675

)

(64,005

)

(68,239

)

 

 

$

58,117

 

$

96,969

 

$

154,559

 

$

261,431

 

 

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.