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v3.10.0.1

Segment Information (Details) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Aug. 04, 2018 USD ($) | Jul. 29, 2017 USD ($) | Aug. 04, 2018 USD ($) segment | Jul. 29, 2017 USD ($)
Segment Reporting Information |  |  |  |  |
Number of reportable segments | segment |  |  |  | 5 |
Net revenue | [1],[2] | $ 645,871 | $ 568,292 | $ 1,167,160 | $ 1,022,637
Royalty revenue |  | 19,709 | 16,498 | 39,493 | 32,523
Earnings (loss) from operations | [1],[3] | 31,881 | 23,787 | 6,993 | (1,188)
Net gains on lease terminations |  | 0 | 0 | 152 | 0
Asset impairment charges |  | (2,981) | (1,233) | (3,740) | (3,995)
Selling, general and administrative expenses |  | 204,569 | 173,007 | 402,788 | 339,862
Corporate overhead |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Earnings (loss) from operations | [1],[3],[4] | (25,647) | (23,551) | (51,492) | (43,960)
Reconciling items |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Net gains on lease terminations | [4],[5] | 0 | 0 | 152 | 0
Asset impairment charges | [4],[6] | (2,981) | (1,233) | (3,740) | (3,995)
Americas Retail | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Net revenue |  | 197,125 | 201,188 | 368,465 | 374,882
Earnings (loss) from operations | [1],[4],[7] | 5,582 | (3,555) | (98) | (25,136)
Americas Wholesale | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Net revenue |  | 34,253 | 32,658 | 74,932 | 68,515
Earnings (loss) from operations | [1],[4],[7] | 5,325 | 5,238 | 11,351 | 12,221
Europe | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Net revenue |  | 311,998 | 255,215 | 517,433 | 420,603
Earnings (loss) from operations | [3],[4],[7] | 30,531 | 30,058 | 10,198 | 29,052
Asia | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Net revenue |  | 82,786 | 62,733 | 166,837 | 126,114
Earnings (loss) from operations | [4],[7] | 1,634 | 2,441 | 5,699 | 2,780
Licensing | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Royalty revenue | [1],[2] | 19,709 | 16,498 | 39,493 | 32,523
Earnings (loss) from operations | [1],[4],[7] | 17,437 | 14,389 | 34,923 | 27,850
Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Earnings (loss) from operations | [1],[3],[4] | 60,509 | $ 48,571 | 62,073 | $ 46,767
Accounting Standards Update 2014-09 | Impact from adoption of new revenue recognition guidance |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Net revenue |  | 2,100 |  | 4,400 |
Earnings (loss) from operations |  | 600 |  | (400) |
Selling, general and administrative expenses |  | 1,500 |  | 4,800 |
Accounting Standards Update 2014-09 | Impact from adoption of new revenue recognition guidance | Corporate overhead |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Selling, general and administrative expenses |  | 500 |  | 1,100 |
Accounting Standards Update 2014-09 | Impact from adoption of new revenue recognition guidance | Americas Retail | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Selling, general and administrative expenses |  | 500 |  | 2,300 |
Accounting Standards Update 2014-09 | Impact from adoption of new revenue recognition guidance | Americas Wholesale | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Selling, general and administrative expenses |  | 200 |  | 900 |
Accounting Standards Update 2014-09 | Impact from adoption of new revenue recognition guidance | Licensing | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Royalty revenue |  | 2,100 |  | 4,400 |
Selling, general and administrative expenses |  | $ 200 |  | $ 400 |
[1] | During the first quarter of fiscal 2019, the Company adopted a comprehensive new revenue recognition standard using a modified retrospective method that does not restate prior periods to be comparable to the current period presentation. The adoption of this guidance primarily impacted the presentation of advertising contributions received from the Company’s licensees and the related advertising expenditures incurred by the Company. The adoption of this guidance resulted in an increase in net royalty revenue within the Company’s Licensing segment of $2.1 million, as well as an increase in SG&A expenses in our Americas Retail, Americas Wholesale and Licensing segments as well as corporate overhead of $0.5 million, $0.2 million, $0.2 million and $0.5 million, respectively, during the three months ended August 4, 2018 compared to the same prior-year period. The net favorable impact on earnings from operations was approximately $0.6 million during the three months ended August 4, 2018 compared to the same prior-year period. During the six months ended August 4, 2018, the adoption of this guidance resulted in an increase in net royalty revenue within the Company’s Licensing segment of $4.4 million, as well as an increase in SG&A expenses in our Americas Retail, Americas Wholesale and Licensing segments as well as corporate overhead of $2.3 million, $0.9 million, $0.4 million and $1.1 million, respectively, during the six months ended August 4, 2018 compared to the same prior-year period. The net unfavorable impact on earnings from operations was approximately $0.4 million during the six months ended August 4, 2018 compared to the same prior-year period. Refer to Note 1 for more information regarding the impact from the adoption of this new standard.
[2] | During the fourth quarter of fiscal 2018, the Company reclassified net royalties received on the Company’s inventory purchases of licensed product from net revenue to cost of product sales to reflect its treatment as a reduction of the cost of such licensed product. Accordingly, net revenue for the three and six months ended July 29, 2017 has been adjusted to conform to the current period presentation. This reclassification had no impact on previously reported earnings (loss) from operations.
[3] | During the first quarter of fiscal 2019, the Company adopted new authoritative guidance which requires that the non-service components of net periodic defined benefit pension cost be presented outside of earnings (loss) from operations. Accordingly, earnings (loss) from operations and segment results for the three and six months ended July 29, 2017 have been adjusted to conform to the current period presentation.
[4] | During the third quarter of fiscal 2018, segment results were adjusted to exclude corporate performance-based compensation costs, net gains (losses) on lease terminations and asset impairment charges due to the fact that these items are no longer included in the segment results provided to the Company’s chief operating decision maker in order to allocate resources and assess performance. Accordingly, segment results have been adjusted for the three and six months ended July 29, 2017 to conform to the current period presentation.
[5] | During the six months ended August 4, 2018, the Company recorded net gains on lease terminations related primarily to the early termination of certain lease agreements in North America. The net gains on lease terminations were recorded during the three months ended May 5, 2018. Refer to Note 1 for more information regarding the net gains on lease terminations.
[6] | During each of the periods presented, the Company recognized asset impairment charges for certain retail locations resulting from under-performance and expected store closures. Refer to Note 14 for more information regarding these asset impairment charges.
[7] | During the first quarter of fiscal 2019, the Company changed the segment accountability for funds received from licensees on the Company’s purchases of its licensed products. These amounts were treated as a reduction of cost of product sales within the Licensing segment but now are considered in the results of the segments that control the respective purchases for purposes of segment performance evaluation. Accordingly, segment results for the three and six months ended July 29, 2017 have been adjusted to conform to the current period presentation.

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