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Quarterly Information (Unaudited) (Tables) | 12 Months Ended
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Feb. 01, 2020
Quarterly Financial Information Disclosure [Abstract] |
Summary of the unaudited quarterly financial information | The following is a summary of the unaudited quarterly financial information for fiscal 2020 and fiscal 2019 (in thousands, except per share data):
|  | Quarterly Periods Ended 1
Year Ended February 1, 2020 |  | May 4, 2019 |  | Aug 3, 2019 |  | Nov 2, 2019 |  | Feb 1, 2020
Net revenue |  | $ | 536,691 |  |  | $ | 683,220 |  |  | $ | 615,944 |  |  | $ | 842,254 |
Gross profit |  | 181,949 |  |  | 265,666 |  |  | 229,499 |  |  | 338,594 |
Net earnings (loss) |  | (20,581 | ) |  | 26,176 |  |  | 13,585 |  |  | 82,049 |
Net earnings (loss) attributable to Guess?, Inc. |  | (21,374 | ) |  | 25,322 |  |  | 12,423 |  |  | 79,604 |
Net earnings (loss) per common share attributable to common stockholders 2,3,4,5,6: |  |  |  |  |  |  |  |
Basic |  | $ | (0.27 | ) |  | $ | 0.36 |  |  | $ | 0.19 |  |  | $ | 1.21 |
Diluted |  | $ | (0.27 | ) |  | $ | 0.35 |  |  | $ | 0.18 |  |  | $ | 1.18 |
|  | Quarterly Periods Ended 1
Year Ended February 2, 2019 |  | May 5, 2018 |  | Aug 4, 2018 |  | Nov 3, 2018 |  | Feb 2, 2019
Net revenue |  | $ | 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 stockholders 2,4,5,6,7,8,9: |  |  |  |  |  |  |  |
Basic |  | $ | (0.27 | ) |  | $ | 0.32 |  |  | $ | (0.17 | ) |  | $ | 0.29 |
Diluted |  | $ | (0.27 | ) |  | $ | 0.31 |  |  | $ | (0.17 | ) |  | $ | 0.28 |
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1 | All fiscal quarters presented consisted of 13 weeks.
2 | 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.
3 | Per common share amounts for fiscal 2020 reflect the net impact of share repurchases, cash interest expense and amortization of debt discount and debt issuance costs related to the $300 million convertible senior notes issued during the first quarter of fiscal 2020. Refer to Note 23 and Note 10 for further information regarding share repurchases and the Company’s convertible senior notes.
4 | On January 28, 2019, the Company announced the departure of its former Chief Executive Officer and the terms of his separation. As a result, the Company recorded $5.2 million in separation-related charges during the fourth quarter of fiscal 2019. These charges were comprised of $2.4 million in cash related severance payments and $2.8 million in non-cash stock-based compensation expenses representing the accelerated vesting of previously granted stock awards. The Company also recorded $0.4 million during the fourth quarter of fiscal 2020 mainly related to non-cash stock-based compensation expense resulting from changes in expected performance conditions of certain previously granted stock awards that were no longer subject to service vesting requirements after his departure.
5 | The Company recorded certain professional service and legal costs and related (credits) costs of $0.3 million, $0.4 million, $(1.4) million and $(0.1) million during the first, second, third and fourth quarters of fiscal 2020, respectively. The Company recorded $3.8 million, $2.0 million, $0.1 million and $0.2 million of certain professional service and legal costs and related costs during the first, second, third and fourth quarters of fiscal 2019.
6 | During each of the periods presented, the Company recognized asset impairment charges related primarily to impairment of certain retail locations resulting from under-performance and expected store closures. During the third quarter of fiscal 2020, asset impairment charges also included impairment charges related to certain operating right-of-use assets. During the fourth quarter of fiscal 2020, asset impairment charges also included impairment charges related to goodwill associated with the Company’s China retail reporting unit and impairment charges related to certain operating lease right-of-use assets. The Company recorded asset impairment charges of $1.8 million, $1.5 million, $1.8 million and $4.9 million, respectively, during the first, second, third and fourth quarters of fiscal 2020, respectively. The Company also 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. Refer to Note 5, Note 6 and Note 9 for further information.
7 | 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. Refer to Note 1 for further information regarding net gains (losses) on lease terminations.
8 | During the third quarter of fiscal 2019, 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 third quarter of fiscal 2019, the Company revised the provisional amounts previously recorded related to deemed repatriation of foreign earnings under the Tax Reform, and recorded an income tax 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 12 for further detail.

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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118952077&loc=d3e1280-108306 + Details
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