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Quarterly Information (Unaudited) | 12 Months Ended
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Feb. 02, 2019
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Information (Unaudited) | Quarterly Information (Unaudited) The following is a summary of the unaudited quarterly financial information for fiscal 2019 and fiscal 2018 (in thousands, except per share data):
|  | Quarterly Periods Ended1
Year Ended February 2, 2019 |  | May 5, 2018 |  | Aug 4, 2018 |  | Nov 3, 2018 |  | Feb 2, 2019
Net revenue2 |  | $ | 521,289 |  |  | $ | 645,871 |  |  | $ | 605,407 |  |  | $ | 837,127 |
Gross profit |  | 173,938 |  |  | 239,431 |  |  | 220,143 |  |  | 306,092 |
Net earnings (loss) |  | (20,987 | ) |  | 25,734 |  |  | (12,816 | ) |  | 25,235 |
Net earnings (loss) attributable to Guess?, Inc. |  | (21,221 | ) |  | 25,530 |  |  | (13,442 | ) |  | 23,232 |
Net earnings (loss) per common share attributable to common stockholders3,4,5,6,7,8,9: |  |  |  |  |  |  |  |
Basic |  | $ | (0.27 | ) |  | $ | 0.32 |  |  | $ | (0.17 | ) |  | $ | 0.29 |
Diluted |  | $ | (0.27 | ) |  | $ | 0.31 |  |  | $ | (0.17 | ) |  | $ | 0.28 |
|  | Quarterly Periods Ended1
Year Ended February 3, 2018 |  | Apr 29, 2017 |  | Jul 29, 2017 |  | Oct 28, 2017 |  | Feb 3, 2018
Net revenue2 |  | $ | 454,345 |  |  | $ | 568,292 |  |  | $ | 548,953 |  |  | $ | 792,164 |
Gross profit |  | 144,642 |  |  | 198,027 |  |  | 191,109 |  |  | 295,070 |
Net earnings |  | (21,227 | ) |  | 15,881 |  |  | (1,662 | ) |  | 3,107 |
Net earnings attributable to Guess?, Inc. |  | (21,293 | ) |  | 15,219 |  |  | (2,860 | ) |  | 1,040 |
Net earnings per common share attributable to common stockholders3,5,6,7,8,9: |  |  |  |  |  |  |  |
Basic |  | $ | (0.26 | ) |  | $ | 0.18 |  |  | $ | (0.04 | ) |  | $ | (0.01 | )
Diluted |  | $ | (0.26 | ) |  | $ | 0.18 |  |  | $ | (0.04 | ) |  | $ | (0.01 | )
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1 | All fiscal quarters presented consisted of 13 weeks with the exception of the quarter ended February 3, 2018 which consisted of 14 weeks.
2 | Net revenue for the quarters in fiscal 2019 reflects the adoption of the new revenue recognition standard and is not presented comparable to the quarters in fiscal 2018.
3 | Per common share amounts for the quarters and full years have been calculated separately. Accordingly, quarterly amounts may not add to the annual amount because of differences in the average common shares outstanding during each period. In addition, holders of the Company’s restricted stock awards are not required to participate in losses of the Company. Therefore, in periods in which the Company reported a net loss, such losses were not allocated to these participating securities, and, as a result, basic and diluted net loss per share were the same in those periods.
4 | On January 28, 2019, the Company announced the departure of its Chief Executive Officer and the terms of his separation. As a result, the company recorded $5.2 million in severance-related charges during the fourth quarter of fiscal 2019. These charges are comprised of $2.4 million in cash related future severance payments and $2.8 million in non-cash stock-based compensation expenses representing the accelerated vesting of previously granted stock awards.
5 | The Company recorded certain professional service and legal costs and related costs of $3.8 million, $2.0 million, $0.1 million and $0.2 million during the first, second, third and fourth quarters of fiscal 2019, respectively. The Company recorded $0.5 million of certain professional service and legal costs and related costs during the fourth quarter of fiscal 2018. There were no certain professional service and legal costs and related costs during the first, second and third quarters of fiscal 2018.
6 | The Company recorded net gains on lease terminations of $0.2 million and $0.3 million during the first and fourth quarters of fiscal 2019, respectively. There were no net gains (losses) on lease terminations recognized during the second or third quarters of fiscal 2019. During the third and fourth quarters of fiscal 2018, the Company recorded net gains (losses) on lease terminations of $(11.5) million and $0.1 million, respectively. There were no net gains (losses) on lease terminations recognized during the first and second quarters of fiscal 2018. Refer to Note 1 for further information regarding net gains (losses) on lease terminations.
7 | During each of the periods presented, the Company recognized asset impairment charges for certain retail locations resulting from under-performance and expected store closures. The Company recorded asset impairment charges of $0.7 million, $3.0 million, $1.3 million and $1.9 million, respectively, during the first, second, third and fourth quarters of fiscal 2019, respectively. The Company also recorded asset impairment charges of $2.8 million, $1.2 million, $2.0 million and $2.5 million, respectively, during the first, second, third and fourth quarters of fiscal 2018. Refer to Note 5 for further detail regarding asset impairment charges.
8 | During the third quarter of fiscal 2018, the Company recognized a charge of €37.0 million ($42.4 million) related to a fine expected to be imposed on the Company by the European Commission related to alleged violations of European Union competition rules by the Company. In December of fiscal 2019, the European Commission published its findings and levied a total fine of €39.8 million ($45.6 million), which the Company paid in the first quarter of fiscal 2020. As a result, during the fourth quarter of fiscal 2019, the Company recorded additional charges of €2.8 million ($3.2 million).
9 | During the fourth quarter of fiscal 2018, the Company recognized additional tax expense of $47.9 million related to the enactment of the Tax Reform. Of these charges, $24.9 million related to reduction in deferred tax assets due to lower future U.S. corporate tax rates and $23.0 million related to the deemed repatriation of foreign earnings. During the quarter ended November 3, 2018, the Company revised the provisional amounts previously recorded related to the estimated amounts due related to deemed repatriation of foreign earnings, and recorded income tax benefits of $6.3 million. During the third quarter of fiscal 2019, the Company reversed a portion of provisional amounts initially recorded during the three months ended February 3, 2018 and recorded a benefit of $19.6 million. During the fourth quarter of fiscal 2019, the Company concluded based on additional regulatory guidance issued during the quarter, related to the Tax Reform, that the Company would owe transition taxes if proposed legislation that clarifies existing tax regulation with respect to the dividends received deduction calculation is passed into law. As a result, during the three months ended February 2, 2019, the Company recorded additional charges due to the Tax Reform of $25.8 million. Refer to Note 11 for further detail.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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